Going into business with a friend, wise or not?

[Erik4150]

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.

You are right. But a friend who is selfish and only after himself should not be called a friend in the first place.
There are friends, strong loyal and intelligent friends that you can still do business with. Doing business with a friend is not always a bad idea.

 

[Waqas wajid]

I don't think you should do business with friends because business is something that has no relatives.Nor is there a friend. Doing business with friends in this way also affects the friendship and business should still always do business alone without partnership.

 

[Funufidelis]

Starting a business with a friend can be one of the greatest experiences of your life. But it's not a decision to make lightly. ... A good friend does not always equal a good business partner. When you work with a friend, your relationship will change

 

[eojo2401]

I can't go into business with friends anymore. I have tried it on several occasions but I paid for it seriously. I was betrayed and the friend I trusted so much broke my heart. The mistake I made before our partnership agreement was that we didn't used God of iron to take a oath.

 

[Esther]

Well in my opinion it depends on the type of friend because some friends can make you or break. You have to know your circle and know the ones that love you with all their heart. Friends can be so good so it can either be wise or not it is dependent on the type of friends you have.

 

[Dammy]

Joint partnership has been in existence for a long time. It's an avenuy to leverage on the strength of more than one person to start or run a business. Either you are starting a business with a friend or relatives or any other person, it is not a bad idea. I will only advocate that boundaries should be set legally and a legal agreement about the terms and conditions of each co- funder be well spell out and backed by law.

 

[Victakin83]

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?

There is nothing bad in doing joint business but there only issue there is about trust. I will advise anyone going into business to be very careful and be vigilant about the kind of friend he or she planning to engage with.

 

[Sanusi]

It is wise and not a wise idea because am always skeptical about this kind of issue, the reason why it is wise is that there are some friends that supports this kind of idea. But there are some friends that don't like a joint business, in the end that friend will betray so its depends.

 

[miztersam]

An adages says show me your friend ane i will tell you who you are, some friendship exist in which third party cannot see through them due to the bond they've shared so this kind friendship can be business partners without any future conflicts

 

[Psalmseen]

It is actually unwise to go into business with your friends without any proper examination. There are some friends that doesn't have the same mindset as you which you have to stay away from I business. If you go into business with them, they will definitely serve as stumbling block to it cos they will be bringing it down while you are elevating it

 

[Onyinye]

Going into business with friends is not bad but while doing so, one should endeavor to make sure that there is a written agreement as to how the business should be run, how to share profit and loss . This will enable them avoid problems that might affect their friendship in the fulture

 

[Husnainali]

Starting a business with a friend can be one of the greatest experiences of your life. But it's not a decision to make lightly. ... A good friend does not always equal a good business partner. When you work with a friend, your relationship will change.

 

[Profwriter]

Partnering with a friend in business is not a bad idea as both of you can compliment each other. Two heads are always better than one. You must be willing to share the risks as well as the profits and also contribute to the business capital.

 

[Goodday]

It's wise to go into a business with a real friend but not anyone you call a friend. You need to know such friend very well, study his attitude too and lastly make such the business is backed by legal documents showing you are partners. With this, whenever something unexpected happens, the law will take full responsibility of it and resolve the situation.

 

[flowreal]

Going into business with a friend, you have to make sure you have same mind set towards the business, and can put equal amount of work. If one partner puts in the majority of work, it could lead to resentment and ultimately jeopardize the relationship and likely the business.

 

[Keibah]

I've seen businesses like that going down the drain. Not because the owners are friends but because they treated the business so casually as the side of their friendship. That's where people get it wrong.

A business with a friend should be a partnership. One with written terms under the rules and laws. After all, partners become friends.

 

[Segshowee]

With doing business with a neighbor, I see nothing wrong. Although I realize that if you guys fight, the end of the friendship can mean. That's right, I feel like you guys are matured enough to differentiate emotions from business, so you are good to do, but it's hard to do that.

Going into business with a friend is not an unwise decision to take. Partnership has proven to be so effective in the business world. What need to be considered is, is the friend in question a like mind, does he share same ideology, dream and aspiration with you.

 

[Princeeffiong]

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.

 

[Lawal]

Going into a business with a friend is a good idea at time and it a bad idea at time because if you have a good friend two of you can have a good business relationship and it will lead to success but at time if you have a bad friend that doesn’t care about the business, the business can collapse

 

[Kunkun]

Before going into a business with a friend, make sure it's a trustworthy one because business and friendship do not mix. Dont just go into a partnership because he or she is your friend so as not to end up with regrets