Going into business with a friend, wise or not?

[Setho]

If you guys are people who have good natural understanding and the experience to take the business forward then that is the best thing that can happen to you. It is going to make decision making in the business to be much faster.

 

[Sotherefore]

I deal with trusted friends and as long as my friends are trusted , I can go into business with them without any problem. I will even like a situation of establishing a business with my friend. It will help us progressed better.

 

[Shigobad2020]

I will always feel safe and secure going into a business with a friend of mine , but some friend are betrayer and thats why you need to first study the person you are dealing with before you can trust him or her with your business.

 

[Shahid987]

It can be wise to go into business with a friend, but it's important to consider a few things before making a decision. Here are some things to think about:
Compatibility: Do you and your friend have compatible goals and work styles? Disagreements and misunderstandings can be more difficult to resolve when you're working with a friend.
Communication: Are you comfortable talking openly and honestly with your friend? It's important to be able to have frank discussions about the business, including any problems or concerns that arise.
Risk: Are you both willing to take risks and work hard to make the business a success? Starting a business is always risky, and it's important to make sure you're both committed to seeing it through.
Legal considerations: It's a good idea to have a written agreement in place that outlines the terms of the partnership and how decisions will be made. You may want to consult with a lawyer to help you draft this agreement.
Overall, it can be a good idea to go into business with a friend if you have a strong relationship and are committed to making the business a success. However, it's important to be realistic about the potential challenges and be prepared to work through them.

 

[Smiles20]

If you and your friend has a long history of having a positive relationship then this is definitely something that you should consider. You should look for a way of ensuring that you guys have good knowledge about the business you want to go into and delegation of responsibilities.

 

[Eli342]

It is recommended to start a business with a friend if they need legal support and terms and conditions that clearly define the program's goals, objective policies, and other elements that can promote its growth and productivity.

 

[Shigobad2020]

What you need to think about is the money you will be making from the business you are transacting with your partner at that particular period , and you need to have a rule and agreement signed between both party not minding your relationship

 

[Abigael]

You and your friend need to have a high level of professionalism in business despite your friendship. This is the only thing that will save your friendship and business.

 

[Skysaint]

There's actually nothing wrong with that as long as they understand that friendship should not in any way interfere with carrying out business activities and making business related decisions.

 

[Heatman]

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.

I also believe that it depends on the kind of friend that you are actually going into business with because if it's someone that is business-oriented and not a greedy friend, I'm sure that the business is going to work out well.

 

[Trey]

That friend must demonstrate that he shares the same visions, aspirations and mindset with me. He must think the same way about finances and management. If all these click, we can do business together.

 

[Connor909]

It can be a wise choice to start a business with a friend, but you should be aware of the potential hazards. Making sure that everyone is committed to the success of the company and that everyone is on the same page in terms of expectations and obligations is crucial.

 

[Robert90]

It can be a wise choice to partner up in business with a buddy, but it's crucial to be aware of the risks involved and to proceed carefully. Make sure your friend is prepared for the task and that you both have the same aims and ideals.

 

[Jonaville]

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?

It is a good idea to go into a business with your friend but the person should be someone that you can trust. The person should also be someone that will contribute to the growth of the business