Are Family/Friends Taking Advantage Of Your Business?

It’s a common issue with owners of SME’s – family members and friends taking advantage of your products/services. While it’s good to be generous, Entrepreneur argues that your generosity may be hurting your bottom line more than you might think. The Entrepreneur article suggests 3 tips for setting limits when offering your loved ones those expected freebies:

  • Set limits from the very start. You’ll need to decide what these are and what you can afford. You can always raise the bar later on.
  • Focus on the things you can offer and don’t be worried by letting people know you cannot offer any more just now.
  • Confront anyone taking undue advantage as soon as possible.