Blood is thicker than water but when it comes to mixing family with business, success might be better achieved working with strangers.
Sure, knowing each other so well can be a bonus, but that same closeness grants an easy ability to push each other's buttons. Adults can revert to childhood behavior and treat each other in ways they'd never treat regular employees.
"Typically I encourage people not to hire family members," said Marcus Lemonis, CEO of the multibillion-dollar company Camping World and star of CNBC's "The Profit."
Lemonis invests in "sick businesses" to turn them around both in real life and on the show. His latest project is Courage.b—a family-run clothing company with seven retail stores in the New York City area.
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Despite generating more than $5 million in sales last year, Courage.b is operating in the red; and it's happening because of a family power struggle.
"There's a big dilemma between who's really in charge of that business," Lemonis said. "And in order for this business to succeed there has to be one clear leader."