tctrills:

M

I can keep going but I am sure you get it.

Why are you making references to places where 95 percent of the people are honest.
Restrict your analysis to Nigeria where even your brother, wife, sister, is ready to finish the business by stealing from the business

Crownbackhome:
For you don't know that, " if you're trying to help a drowning Man, you don't know that, you're only precipitating your own disaster"

u didn't even read what is up there.

George2164:
Is amazing to speak polished English, am still yet to comprehend the meat of your message, especially what actually happened and how it was resolved. The purpose of what we do here is to learn from people's life experiences and probably take informed decisions about our life .

It was all shades of AI and the op also seems clueless.

Sharing my friend's story, who in his good heart borrowed out the sum of #5Million to his in-law who needed it to run a contract he got in Abuja under one of the Ministries since 2020. The money was to be paid back in 6 Months as promised, in fact his sis who's married to the man kept assuring him that they were going to refund the money before the promised 6 Months, but it's 4yrs now and his money not refunded back, he has been having running battles with them for years now which has led to a big quarrel in the family. His own business has gone down for it for trying to render a helping hand to his sister's husband. At the moment he is considering filing a Court case against them, it's getting uglier by the day.
So for me, i'd advice we all be extremely careful when it comes to family and business collaboration

Gentlesniper:


Aswear, this one is obviously visible to the blind and audible to the deaf...

how do you guys know

Never do business with family.

Never.

In this Naija oo, it is a disaster waiting to happen simply because we are always to emotional.

Except you do the right things legally which we mostly don't, the business will always run into issues when getting to the 2nd generation.


I heared MOKO was founded by 4 friends and it's still running well, also heared the children are now involved.

oluwaseyi0:
most family-member run business doesn't end well

I bought a brand new tryicycle for my brother to ride with him keeping all the money made because he has nothing doing

all he has to do is take care of the Maruwa and renew the documents

yet he failed at this, he was very busy lavishing the money he makes on olosho and othe rrandom things

paper expires, authority seized the maruwa

I have to bail it myself and renew paper of less than 10k, spent almost 100k to bail and service the machine

I never collect a dime from him since buying it and neither do I intend to collect money but how can he not be able to renew common document

There is an adage in Yoruba that say "ohun ti a ko ba jiya fun, se kii tojo. Ohun ti a ba fi ara sise fun, ni oun pe lowo eni. Meaning, "free things don't last long but what we worked hard to acquire will definitely last long.

Ishilove:

Oh... Really? How are you able to differentiate between human and AI posts?

An AI generated contents, for now, does not make complete sense. It says many things and at the same time says nothing. It's simply a regurgitation of well known facts. It gives you the feeling that this article is not complete, that something seems to be missing in it

GodWrites:
What's up with all these AI generated posts?

very Good! Now see what I'm talking about. Anytime I speak of A.I some people start talking shit, Imagine people now create Threads with A.I responses, it doesn't even feel human

Ishilove:

Oh... Really? How are you able to differentiate between human and AI posts?

Common sense and a bit knowledge on how humans Talk and write. When someone writes, you can feel the emotions and Connection even if it's a bad writer you can still feel the emotions but won't be connected. A.I writes perfect gibberish, A.I can never recreate the Human touch of a write up, even if it does you'll still feel it off.

oluwaseyi0:
most family-member run business doesn't end well

I bought a brand new tryicycle for my brother to ride with him keeping all the money made because he has nothing doing

all he has to do is take care of the Maruwa and renew the documents

yet he failed at this, he was very busy lavishing the money he makes on olosho and othe rrandom things

paper expires, authority seized the maruwa

I have to bail it myself and renew paper of less than 10k, spent almost 100k to bail and service the machine

I never collect a dime from him since buying it and neither do I intend to collect money but how can he not be able to renew common document

In my opinion you had a good intention but the execution was wrong.
I am sure you understand his personality to a large extent. That is enough to help you set up rules and expectations.

If I were you, even if I intend to release all the income to him, I won't ever mention it to him, I will make it appear like he will be be doing either daily/weekly/monthly remittance. This will make him sit up and stay committed to the course knowing fully well that he has a target to meet.

Some people take small opportunity given to them for granted on the altar of friendship and family relationship.

When I was serving I set up a business for an indigene. My intention was to dash her everything I invested in the business, but I didn't mention that to her.
This lady was so committed , enterprising and resourceful. In less than 1 month this lady returned the capital, when she did I told her I wanted her to expand the business, so she should add that money back to the business. This was how this lady became big in that business.

Well you have done your best, the joke is on him.

henrimoto:
...The lack of human touch. Emotions.

Exactly.

BabaCommander:

An AI generated contents, for now, does not make complete sense. It says many things and at the same time says nothing. It's simply a regurgitation of well known facts. It gives you the feeling that this article is not complete, that something seems to be missing in it

If you are avid novel reader, you will notice some novels these days are AI generated. Some movie and drama scripts. That's why there is no emotion no matter how the actors tried.

oluwaseyi0:
how can he not be able to renew common document

Because you are there!

I have learnt never to do business with family or close friends. If you value the relationship, keep money out of it.

Ishilove:

Oh... Really? How are you able to differentiate between human and AI posts?

you are such a møron

neztar:
you are such a møron

Your father is the môron, that's why you are online writing rubbish and showing us you are truly his son.

BabaCommander:

An AI generated contents, for now, does not make complete sense. It says many things and at the same time says nothing. It's simply a regurgitation of well known facts. It gives you the feeling that this article is not complete, that something seems to be missing in it

Thank you. With the way things are moving, what we are seeing in sci-fi movies will become our reality.

henrimoto:
...The lack of human touch. Emotions.

Thank you. I felt something was off. The article felt impersonal

dare56610:
As a family-oriented entrepreneur, I was excited about the prospect of starting a business with my relatives. We all shared a passion for the industry and believed that working together would strengthen both our family bonds and our business venture.

In the beginning, everything seemed promising. We communicated well, understood each other's strengths, and divided responsibilities accordingly. It felt like a dream come true, blending our personal and professional lives.

However, as time went on, we encountered unforeseen challenges. Disagreements on business decisions started to spill over into family gatherings, causing tension during what were once joyful moments. Emotions ran high, making it difficult to separate family dynamics from business discussions.

Furthermore, favoritism emerged unintentionally, creating a sense of inequality among non-family employees. This led to resentment and negatively affected the overall team morale.

As the business faced tough decisions, we found it challenging to objectively assess and implement necessary changes. Personal biases and loyalties clouded our judgment, hindering the growth and success of the company.

Through these experiences, we realized that merging family and business requires careful consideration and open communication. It is crucial to establish clear boundaries between personal relationships and professional responsibilities. Regular family meetings and defined roles can help address issues before they escalate.

By acknowledging these challenges and striving to strike a balance between family bonds and business goals, we found ways to navigate the complexities. Open dialogue, empathy, and a shared vision for both the family and the business were key to finding harmony and success.

Share your own stories of running a family business, the challenges you faced, and how you managed to find a harmonious balance between your family life and entrepreneurial pursuits. Let's learn from each other's experiences and build stronger, thriving family businesses together.

Na GPT write this thing.

Offpoint1:

Not that hard, you can always notice from the first line of sentence.

There is even AI WhatsApp chat now. Interesting

Ishilove:

There is even AI WhatsApp chat now. Interesting

What they are calling AI is really just scraping millions of comments and posts and recycling them. Which is why we are getting 'rate limiting' which is blocking external access to information on sites like reddit.

So for AI to work, it needs to aggregate human content. But if AI puts people out of work, then there will be no more human content and eventually AI will simply be recycling it's own resources over and over again.

GodWrites:
What's up with all these AI generated posts?

Bruvvvv, it's becoming too much

TolkowskyCut:


99% of the companies you listed are either American or European family owned businesses. I challenge you to name just 5 family owned businesses that are in their third generation now

Madhvani Group (Uganda), Remgro, Kongo Gumi, NASCO group, Dantata Organization (Nigeria), Schwarz Group, Moët Hennessy Louis Vuitton SE (OTC: LVMUY) and many more.

Family-owned is family -owned. American or not

GloriousGbola:


What they are calling AI is really just scraping millions of comments and posts and recycling them. Which is why we are getting 'rate limiting' which is blocking external access to information on sites like reddit.

So for AI to work, it needs to aggregate human content. But if AI puts people out of work, then there will be no more human content and eventually AI will simply be recycling it's own resources over and over again.

I trust you to always give me the nitty gritty of these computer things

falcon01:
very Good! Now see what I'm talking about. Anytime I speak of A.I some people start talking shit, Imagine people now create Threads with A.I responses, it doesn't even feel human

AI is going to be humanity's undoing. They have not even perfected it, but they are already rushing to upload it in a mechanical body for commercial use. Imagine what will happen if these AI gain control of the nukes and decide that humans are a waste of resources? I will be underground when that happens lol

dare56610:
As a family-oriented entrepreneur, I was excited about the prospect of starting a business with my relatives. We all shared a passion for the industry and believed that working together would strengthen both our family bonds and our business venture.

In the beginning, everything seemed promising. We communicated well, understood each other's strengths, and divided responsibilities accordingly. It felt like a dream come true, blending our personal and professional lives.

However, as time went on, we encountered unforeseen challenges. Disagreements on business decisions started to spill over into family gatherings, causing tension during what were once joyful moments. Emotions ran high, making it difficult to separate family dynamics from business discussions.

Furthermore, favoritism emerged unintentionally, creating a sense of inequality among non-family employees. This led to resentment and negatively affected the overall team morale.

As the business faced tough decisions, we found it challenging to objectively assess and implement necessary changes. Personal biases and loyalties clouded our judgment, hindering the growth and success of the company.

Through these experiences, we realized that merging family and business requires careful consideration and open communication. It is crucial to establish clear boundaries between personal relationships and professional responsibilities. Regular family meetings and defined roles can help address issues before they escalate.

By acknowledging these challenges and striving to strike a balance between family bonds and business goals, we found ways to navigate the complexities. Open dialogue, empathy, and a shared vision for both the family and the business were key to finding harmony and success.

Share your own stories of running a family business, the challenges you faced, and how you managed to find a harmonious balance between your family life and entrepreneurial pursuits. Let's learn from each other's experiences and build stronger, thriving family businesses together.

The Only Advice I will give you now is this.

Go and read 'The Mafia Manager : A Guide to the Corporate Machiavelli ( Thomas Dunne book) by V' .

https://zlibrary.to/filedownload/the-mafia-manager-a-guide-to-the-corporate-machiavelli

It will teach you everything you need to know.

My 2 cents.

Thank me later

Ishilove:

Thank you. With the way things are moving, what we are seeing in sci-fi movies will become our reality.

Yeah well honestly can't wait for the Time Machine to be invented, lots of things to be corrected. 😁😁😁

dare56610:
As a family-oriented entrepreneur, I was excited about the prospect of starting a business with my relatives. We all shared a passion for the industry and believed that working together would strengthen both our family bonds and our business venture.

In the beginning, everything seemed promising. We communicated well, understood each other's strengths, and divided responsibilities accordingly. It felt like a dream come true, blending our personal and professional lives.

However, as time went on, we encountered unforeseen challenges. Disagreements on business decisions started to spill over into family gatherings, causing tension during what were once joyful moments. Emotions ran high, making it difficult to separate family dynamics from business discussions.

Furthermore, favoritism emerged unintentionally, creating a sense of inequality among non-family employees. This led to resentment and negatively affected the overall team morale.

As the business faced tough decisions, we found it challenging to objectively assess and implement necessary changes. Personal biases and loyalties clouded our judgment, hindering the growth and success of the company.

Through these experiences, we realized that merging family and business requires careful consideration and open communication. It is crucial to establish clear boundaries between personal relationships and professional responsibilities. Regular family meetings and defined roles can help address issues before they escalate.

By acknowledging these challenges and striving to strike a balance between family bonds and business goals, we found ways to navigate the complexities. Open dialogue, empathy, and a shared vision for both the family and the business were key to finding harmony and success.

Share your own stories of running a family business, the challenges you faced, and how you managed to find a harmonious balance between your family life and entrepreneurial pursuits. Let's learn from each other's experiences and build stronger, thriving family businesses together.

Doing business with family members doesn’t usually end well especially when they were never successful at it before or they dont have much stake(capital) in the business

MarketDispatch:


Why are you making references to places where 95 percent of the people are honest.
Restrict your analysis to Nigeria where even your brother, wife, sister, is ready to finish the business by stealing from the business

There is no county in the world where 95% of the people are honest. I think you need to travel. The formal president of US is facing multiple charges. The present one is suspected of corruption with his son. Oga stop living in a movie. Humans are basically the same.
What would you say about the Dantata's. Allen Oyema of Airpeace has is entire family in his business. Fela involved his kids in his music. I know at least 2 hospitals run by father and children in Nigeria. So my oga please do your research.

TolkowskyCut:


99% of the companies you listed are either American or European family owned businesses. I challenge you to name just 5 family owned businesses that are in their third generation now

Actually Africans have much stronger family unity than Europeans.
Again, it's very hard to name many African business in it's 3rd generation remember, most of Africa was under colonial rule just 60 years ago so you don't have a strong case. But I can name you many businesses in their second generation.

In business, there is no such thing as family. Profit is the motto and the people, a businessman has something to do with are those that appeal to his self-interest which is to make profit.