How to be in business with friends

There is no consensus about whether to open a business with friends: many claim that this cannot be done, as you can lose friends and business. At the same time, there are many enterprises that were opened specifically by friends. Accordingly, their owners only welcome this idea.

Instruction manual

1

The idea of ​​creating a business with friends has its pros and cons, supporters and opponents, therefore, it cannot be unequivocally argued that this is ineffective or, conversely. Each case, moreover, is individual.

2

The advantages of creating a business with friends are usually considered a sense of security, support, mutual assistance. In the early stages, this is often of great importance. In addition, you know your friends, respectively, and you know about their professional qualities, you can assume how they will behave in a particular non-standard situation. If you start a business with a partner from the outside, then, as a rule, you know a little about it.

3

However, in a business with friends there are many disadvantages or risks. It can sometimes be difficult with them to agree on the performance of a particular work, since everyone will hope that he will be given "part of the friendship" to the part that he wants to do, they will forgive mistakes. If this does not happen, and one of the partners is more stringent and demanding of others, quarrels arise. In addition, your business goals with friends may diverge, which in the future will lead to misunderstanding and, at the very least, complication of relations.

4

If you still decide to start a business with friends, remember the basic rules:

1. do not do anything by verbal agreement, conclude written agreements on everything related to business management, profit distribution, etc.;

2. if your friend works less than you, while demanding an equal share of profit, if he lacks the ability or will to do business, then it is better to part with him, and the sooner the better;

3. Strictly separate responsibilities.

5

It is important to remember that in business, your friend is primarily a partner, and only then a friend. Thus, before deciding on such cooperation, think about whether your friends can be good business partners, if they have enough abilities for this, how serious they are in their intention.