Sibling relationships can be tough and typically the term sibling rivalry is so much more popular than sibling synergy. Is it possible to harness this family dynamic for success in a business setting? I was cautious yet optimistic about starting a business with my brother, Slade. Working with your sibling can be a lot of fun if you keep in mind these six aspects of a business partnership.
My business partnership with Slade began with a phone call. Slade is eleven years my junior and has a completely different educational and career background. He frequently vetted my business ideas so, in that regard, this phone call was not unique. But this outcome was life changing. This phone call led to two changed career paths and the possibility to either grow or destroy a relationship.
Slade’s experience is in business as a C-level executive in Silicon Valley. He grew businesses from 1 million in income to 100 million. He was known as the “Slade of all Trades” because he could do virtually anything in a business from human resources, to marketing, to financial projections.
As for me, I am a physician who has created and built my own private practice. I knew how to run a small practice and enjoyed the business aspect of medicine- which led me to my grand idea. Our phone call in the spring of 2019 led to the opening of our flagship location of Kalvera Skin Therapy in Jacksonville Beach, FL in the midst of a world-wide pandemic.
The following questions have been essential in the success of our business venture and the health of our sibling relationship.
The following questions have been essential in the success of our business venture and the health of our sibling relationship.
1. What is the dynamic of the relationship? Do you generally “get” each other and share similar view points on the big things? Or do you constantly butt heads over even small issues?
Because Slade and I have a significant age gap, we never had the typical sibling relationship. I left the house when he was seven, and we really started our relationship as adults which created an entirely different dynamic.. This may be the reason we chose to go into business together. Despite the age difference, we view and respect each other as equals.
2. How do each of you communicate? How do you handle disagreements?
Slade and I have had disagreements over the years. Disagreements aren’t necessarily a problem but the way they are handled can be. We found success by carefully listening to each other in order to reach mutual understanding. We both recognize that this can be unusual in a sibling relationship but is possible with intentional communication. .
Siblings can choose to either fight fair or nasty. Although disagreements are common and expected in a business, there should be a no tolerance policy for rude behavior, name-calling or silent treatment in a business setting.
3. How are your personalities similar/different?
Both Slade and I are committed over-achievers in different industries. I am an ENTJ Myers-Briggs Commander Prototype and Slade is an INTJ, the Architect prototype. I am an extrovert and he is an introvert. We have different strengths and weaknesses and have purposefully created the best environment for us to flourish in our work and personal relationships.. Don’t be afraid to have an introvert and an extrovert in business together.
4. What strengths do each of you bring to the partnership?
In our business partnership, I brought the medical background, spa experience and understanding of what the clients want. Slade had experience in creating strategies, marketing and procedures to exponentially grow a business - all of which I lacked. Our combined experiences and areas of expertise have built our business to be much more than either could have achieved individually.
5. How do each of you view your relationship with money?
Money can be the making or breaking point in a business and business partnership.. Before starting a business together make sure both you and your sibling have a healthy understanding of - and relationship to - money.. Starting a business is a financial strain. Make sure you both can handle the ebbs and flows.
6. What is your risk tolerance?
Entrepreneurship is like a roller coaster. It’s easy to go from elation to despair very quickly. Before starting a business with a sibling, make sure you both like rollercoasters!
As a sibling team, Slade and I share the same enthusiasm to be entrepreneurs. We respect and admire each other and most of all, when things get tough, we know how to get each other through the rough patches. As a result of our business venture, our sibling relationship "synergy" has improved and evolved in ways I could have never expected.