Dr. Samuel Amo Tobin, executive chairman of the Tobinco Group of Companies, recommends to aspiring business owners that they do not include their immediate family members in the business.
At the 2022 Power Wisdom Summit, a successful business leader who spoke on Saturday warned attendees not to hire friends and associates in business roles.
According to Dr. Tobin, business owners that recruit close relatives for positions other than their wives or children run the danger of having their companies fail.
“The best way to grow your business is to be very strict and be firm. If you understand this principle you will never involve your family members in your business,” he stated.
“Is not the best to involve your family in your business nor when is flourishing. Don’t give them sensitive roles like procurement, others, they will kill the company. The only people you can consider is your wife or biological child who’s reasonable,” Chairman Tobinco advised.
When employees who are not members of the family violate company policies, they are swiftly disciplined, while members of the family are allowed to steal money.
Tobinco recommended to workers that they negotiate with their employers over the costs of transportation.
“If your transportation is more than your salary you must tell your HR to talk to management to help. It’s a must to consult management else you will turn out to be a thief or a liar . Never be in a position whereby you spend more than you receive.
“If you receive tips from your bosses then obviously you can depend on those tips to cater for your transportation but, if your transportation is more than your salary then it’s either you ask for increment or resign,” he explained.
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