Give Your Family a Seat at the Board - Deepstash

Give Your Family a Seat at the Board

While the Western investors may "suggest" for you to not have family members on the board, you must keep as many close ones on the board as possible. Most of the profitable businesses in India are run by families.

Loyalty is not needed in good times but tested in bad times. Expecting Loyalty from your employees or investors is setting yourself up for heartbreak. After all, people are driven by their self-interest (and paychecks). In bad times, only your family stands by you.

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shaminder_pal

Techie. Foodie. Student. Product Manager @ Justdial

Ashneer's story is the story of countless entrepreneurs who have been bullied and ousted of the company they founded by their partners and investors because of lack of sense of dealing with office politics. These ideas are helpful for those jumping into the world of starting a business.

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The idea is part of this collection:

The Psychology of Money

Learn more about books with this collection

How to develop a healthy relationship with money

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The impact of emotions on financial decisions

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