I was chatting with a co-worker recently about how we both wanted to start businesses with our sisters.
“Sister entrepreneurship” is all the rage right now: Katherine and Sophie, the “sister-owners” of Georgetown Cupcake now have their own TV show, called DC Cupcakes. The Kardashian sisters co-own Dash, a line of clothing stores. Apparently the rollable footwear line FootzyRolls was started by sisters Sarah and Jenifer.
Who better to start a company with than your sister? In the case of me and my sister, we know each other’s strengths and weaknesses, we push each other in a positive way, we’re more productive when we can bounce ideas off each other..and we have an absolute blast together.
We’ve talked about a promotion company, which would leverage both our shared strengths and our unique skill sets. For example, we are both very capable in terms of promoting, but I am more experienced with social media, while she is great at interpersonal communication.
Sure, there are risks involved. There have been many times that my sister has helped me out financially or I’ve fronted money for our phone bill. Having both of our assets wrapped up in the same company is more financially risky. Most importantly, there is always the possibility that a work issue will affect personal relationships.
Should we decide to move forward with our venture idea, I’d insist on a “sister contract.” This document would essentially say that, if push came to shove, our relationship would take precedence over our business. Also, it sounds incredibly silly, but we take pinky promises very seriously. They basically constitute a sisterhood pact; they are never