“Should You Work with Family?”

Hiring a friend or family member may pose a conundrum when the business flounders.

Mike Brown’s business in the oil and gas industry began making eight figures within two years of opening. As the success allowed him to expand his team, he decided to hire his brothers. However, his business has been struggling, and his business partner believes the company can’t afford to continue paying Brown’s brothers. But Brown feels responsible for luring his brothers away from their previous jobs, and isn’t sure he can let them go.

When Brown decided to hire his brothers, he was melding a personal decision with a business decision. Since Brown had personal reasons for hiring his brothers, basing the...