Going into business with a friend, wise or not?

[Grant]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

 

[Oscar]

First of all you need to be aware that a good friend does not and will never equal a good business partner. Make sure you guys agree to put in equal amount of work and dedication because failure of your friend to do that may lead to resentments which is very bad for business. Trust is also key.

 

[Seun4luv]

Going into business with a friend wise or not? In some cases is wise to go into business with a friend while in order cases is not good to do business with a friend. Joint business is good depending on the partner.

 

[WhiteHouse]

You might be enticed to begin a business with a dear companion since both of you manage everything well, except it's not generally the best approach. Working with companions can be a truly charming encounter, however it doesn't come without difficulties. In the event that you put it all on the line, consistently convey desires unmistakably as the line among work and individual life can get foggy.

A business organization resembles a marriage. A portion of the key attributes you would search for in a companion incorporate trust, correspondence, genuineness, regard and the capacity to settle. We likewise esteem these equivalent characteristics when hoping to fabricate a business organization.

 

[Efficient5713]

Going into a business with a friend is something to be debated.
Going into a business with a friend in a way is wise and in a way it is unwise.

When you go into a business with a friend whom you guys have the same mindset, your business will prosper but when you have a friend who is selfish and is always after himself, you won't prosper.

 

[Erik4150]

Don't go into business with friends or family, chances are the business won't run very smoothly. This is because with friends there is an air of familiarity and emotions that might get in the way of business. It is easy to get sentimental around your friends and sentiments will not grow your business, profits will.

 

[Trexxxy]

I don't see anything bad with doing business with a friend. Although I understand the point that if you guys fight it might mean the end of the friendship. This is true, I feel like of you guys are matured enough to separate emotions from business, then you are good to go, however this is hard to do .I wish you guys the best.

 

[Farhan Aslam]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

As far as my experience is concerned, starting a business with friends or family is more difficult. Everyone thinks differently and then it is very difficult to bring all the thoughts together in the same business.

 

[Josemendez]

All things being equal , your friend is the best person you can go into with , because the bond shared can help unite you guys together. However, there is need to have legal document backing the business

 

[Ralphjoe]

Being a business partner with a friend is okay, just that you shouldn't just bank on your friendship and trust for each other to override the voice of reason. You should make sure you guys signs document of agreement for partnership known as partnership deeds in law.
It will spell out everyone's duty and responsibilities to the business, everyone's right is also guaranteed, that way there will be no disagreement whatsoever that will disrupt the business.

 

[Defaith]

It not bad if the friend is someone that have brain and very intelligent.. it not a problem but if it friend that doesn't have sense someone who think negative that kind of friend is not someone that we

 

[Kamon c4]

Don’t answer your friends follw your heart. If you really feel going into partnership with your friend is the right thing for you then do it but make sure you do it with the trusted person. Also follow every legal steps that’s required for a partnership business

 

[Donkiz]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

Partnering with someone in a business is one of the best ways to pull funds and ideas together to create a successful business. Truth is that you cannot go into business with your enemy, so your business partnership must with a friend, family or someone you trust. So if you're comfortable with being in business with this your friend then go ahead with it.

 

[Sincerem]

It is beneficial sometimes to partner with your friend to run a business initiative. Because sometimes two good head is better off than one. Some factors that makes friends to partner in a business organization, might be financial issues, lack of ideas for the business, etc. One of them might be financially backed up and the other having a good idea for the business. Both of them can share their respective idea to form a great partnership.

 

[chalcedony8]

Going into a business with a friend is not advisable, but become a business partner with a friend is still very much advisable as they are not in the organization with you, most business formed by friends doesn't last long only few will last long.

 

[GeneBiz]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

If you have already decided to start the business with your friend and you consider that you guys have what it takes to be successful, the best recommendation is that they consult a lawyer, reach an agreement and have it in writing and duly notarized

 

[Tunnexisco]

Business management has to be based on cordial relationship between the co-managers of the business for it to be able to successfully achieve what it was purported yo achieve. However, since both of the business partners has the same goals towards making profit and are ready to be active in playing their different roles towards the development of the business, I don't see anything harmful in doing business with a friend, as long as we already understand ourselves, the business will sure progress and also earn us more profit than expected.

 

[Dylinks]

Let me start by saying that business can be done with anybody provided you share the same ideology.


In the context of a friend, there must be well defined agreement in black and white backed up by law. From this agreement you will spell out how to generate fund, utilization of it, sharing of profit, director's remuneration etc


Also business is a legal entity that stand out and friendship doesn't come in to play while on it.

 

[Dubai]

There is nothing wrong in going into business with a friend if both of you have the same business idea and passion. If your friend have the skills and interest like you, then you can do the business with him.

 

[Ridorz]

There is nothing much bad in getting business doing with friend. But it's advisable that if you have your capital to start business alone and do it alone. But if you do not have enough capital, you can join it with friend to start it but let it be trustworthy and reliable friend. Therefore, make sure you make a necessary documents.