Path to Business Podcast: Episode #74 – Handling Friends & Family as an Entrepreneur by Bethany and Luc Barrette from Grey Loft Studio, a wedding photographer & videographer husband and wife duo.
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Starting a business can be thrilling, but what happens when your closest circle doesn’t fully support your entrepreneurial journey? In our candid chat, we delved into the complexities of starting a business amidst skeptical friends and family.
🤔 Skepticism & Support: It’s common for loved ones to express doubt when you embark on entrepreneurship. They might worry about the viability of your venture or recall past experiences with MLM schemes. But beneath the skepticism lies genuine care and concern.
💼 Professional Perception: As entrepreneurs, we understand the importance of professionalism. Yet, our friends may struggle to view us in a business context, especially if they’ve known us in a different light—perhaps as the life of the party rather than serious professionals.
Handling Friends & Family as an Entrepreneur
📸 Photographer Predicament: As wedding photographers, we’ve encountered scenarios where friends opted for competitors over us, leaving us questioning their faith in our abilities. The disappointment stung, but it also highlighted the need for clear communication and expectation-setting.
💰 Discount Dilemma: Offering discounts to friends can be a tricky territory. While it may seem like a gesture of goodwill, it’s essential to consider the value of your services and the impact on your business’s bottom line.
👫 The Value of Trust: When friends do choose to support our businesses, it’s more than a transaction—it’s a testament to the trust they have in us. Their belief in our abilities fuels our passion and drives us to deliver our best work.
🔄 Turning Skeptics into Supporters: While not everyone may immediately grasp the value of our services, it’s our responsibility to educate them. By showcasing our expertise, professionalism, and dedication, we can turn skeptics into staunch supporters.
💡 Finding Common Ground: Open communication is key. When friends express reservations about hiring us, it’s an opportunity to address their concerns and find common ground. Explaining the intricacies of our work and the value we bring can bridge the gap between skepticism and support.
Handling Friends & Family as an Entrepreneur is tricky & you may lose friendships
🌟 Celebrating Supportive Allies: To those friends and family members who believe in us, we express our deepest gratitude. Your unwavering support means the world to us, and we’re committed to exceeding your expectations every step of the way.
🤝 In Conclusion: Entrepreneurship isn’t just about building a business—it’s about forging connections and nurturing relationships. While skepticism may linger, it’s the bonds of trust and support that propel us forward on our entrepreneurial journey.
Whether you’re an entrepreneur navigating the challenges of starting a business or a friend contemplating hiring a loved one’s services, remember this: behind every venture is a passionate individual striving to make their mark on the world. Together, let’s champion each other’s dreams and celebrate the power of friendship and entrepreneurship.
Watch the full episode on our Youtube page.
