Going into business with a friend, wise or not?

[Irfan Aslam]

Management it need to be founded on the strong relationship between the ceo and co, so that it can accomplish its expected objectives effectively. But because both business partners have the same ambitions and are willing to take part in the various roles they play in the business growth, as long as we already know that the companies can advance and achieve more benefit than anticipated, I see nothing negative in doing business with a friend.

 

[Sunny cent]

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 ala good business partner. When you work with a friend, your relationship will change. Integrity: This is the key characteristic you should look for when assessing a friend as a potential partner. I don't care how close you are - if the person lacks integrity, bringing them onboard is simply too risky.
Persistent:With a large percentage of startup ending in failure, you need someone by your side that will remain persistent and dedicated through the challenging times.
The talker:If your friend is all talk and no action, this can be very disruptive and unproductive in a business environment.

 

[Heatman]

It is very good to run business with friends because the friendship will more stronger than before and the cold of friendship is to help each other. Business that run with fri friend create more example for up coming family generation.

I'm a living witness where only two things have destroyed good friendships that have lasted more than 20 years and it's money and woman. So, in order to avoid money to come between me and my good friend, I rather go ahead with my business all alone by myself.

 

[Ezydan]

Well it all depend on the kind of Friend you are going to do business with. There are some friends that is impossible to do business with, those friends will kill the business. Anyway their are still some friends that are very reliable in business

 

[Blessedsam60]

It's a nice idea. You have to give in a trial. Make sure you both are fully interested in the business and are ready to sacrifice a lot. And I will also implore both of you should understand that business sometimes might fail or be successful.

 

[Victor001]

It's dependent on your understanding,trust and nature, personally I like to give account for my self, there is this peace of mind you have when you are in charge of your investment, nobody to make report to,just you and your business.

 

[jagabaney]

Entrepreneur forums are online communities of new & seasoned entrepreneurs. These forums serve as a platform to exchange ideas about how to set up a new business, grow, and exit. It’s a great way to generate new business ideas, share marketing practices, find a mentor, seek out potential clients, and find friends with whom to share your unique journey.

 

[Asma]

firtly its important to know that a person or friend is loyal or not before starting business with a friend, after that think about the mutal understanding on both sides. because umderstanding make relation good. and in business trusth understanding, loyatly is the key of any partnership business

Post automatically merged: Feb 21, 2021

firtly its important to know that a person or friend is loyal or not before starting business with a friend, after that think about the mutal understanding on both sides. because umderstanding make relation good. and in business trusth understanding, loyatly is the key of any partnership business

 

[Godleads1]

Going into business with a friend is just like a coin. It always has two sides depending on the kind of friendship and agreement between the two of us. All I can say is that we should be wise while going into a business with a friend as a partner. Because it can turn out to sour at times.

 

[Sincerem]

I never liked to venture into partnership business with any one, i just like to be alone. I love sole proprietorship business option than any thing else, already that's what I'm practicing. I just don't like dual decision making when it comes to making plans for the business.

 

[Oche Diligence]

I will never encourage anyone to do business with people, although in terms of exchanging ideas will better but the other disadvantages attached to do business with mankind is deadly but it actually determine who you met , because people are perfectly different in terms of behaviors. People can be laughing and Happy with you, still have bad plans for you, so doing business with people is a susside mission, it's better to start business all alone and enjoy the benefits of your freedom you deserve, there are people or billionaires that started alone and still make it, business is not all about a cooperate group but also only one person can do and succeed.

 

[Sincerem]

Lol, their are some partnership that brings long time business success while some brings nightmares. So when we're going into business will should make our preferences and determine the one that best suits us.

 

[Deebabs123]

If you’ve known a friend for a long time, you probably have intimate knowledge of what they are good or bad at (and vice versa). This allows you to appropriately allocate responsibilities across the business.
You may be a great people person - in which case you’d be best positioned front facing potential clients and selling them on the product. Your friend may be more introverted and detail oriented in which case, they would be best positioned working on improving the product.

 

[Setho]

In business, two heads are in most cases better than a single one. So you can start a business with your provided that he has a very good knowledge about the business dealings and is commited to work. There should also be a high level of understanding and trust between you two.

 

[Samuel77]

I see nothing wrong in going into business with a friend. I will say it's a wise decision to make but you need to be considerate if the friend is trusted or not.

 

[Muhammadawais]

If you and your buddy are both entrepreneurs (or aspiring entrepreneurs), you're probably used to brainstorming new business ideas. You'll want to take the creative spirit out of your friend's living room couch and into the boardroom when you come up with a great business idea. That could be a fantastic choice! But keep in mind that there is a proper way to go about starting a company.

 

[Akinwale701]

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'S GOOD and sometimes it's bad. if the so-called friend is someone that is very trustworthy and stays by his words, it's worth it, but if no, kindly avoid such

 

[Spicywilfred]

How well do you know your friend?. For me I wouldn't advise any one to go inti business with a friend, the only way u can do such is having it at the back of your mind that the business is temporary.

 

[Setfragil]

Going into business with someone you have to be sure of the type of person he or she is as not all friends are good friend. You have to study the so called friend very well before you partner with him because people change easily once money is involved.

 

[Ziki]

One shouldn't go into business with an individual on the basis of friendship but on the fact that the person knows how to handle a business and is worthy to be a good business partner.