🤝Do You Believe That It Is a Bad Idea to Go Into Business With a Friend?
When establishing a new business, asking a friend to join or support that business is often the first option.
However, getting into business with a friend involves two types of relationship, friendship and business relationship. In most cases, these two types of relationship cannot co-exist well with each other.
There are cases where friendship is broken because of a business conflict. In that case, the business is not profitable, and friendship is not sustained.
What do you think about it? Is it a bad idea to go into business with a friend? Please, if any, share your experience.
In my opinion involving friends with business definitely strains the friendships and definitely puts the friendship to new test however some people do manage to work with their friends easily in some cases I can not say it is advisable not unless you are really willing to risk the friendship because you may end up being only business partners or walk away with a broken friendship.
Going into a business with Freinds is not a bad ideas if you have the same vision and goals. Many companies have been founded by friends ;if you trust each other it is better to run a business with your friends and closest persons than run a business with someone else you do not know well.
Its depends also on the business and the relationship between you and your friends.
Shane — Thank you for your answer, Shane. I agree with you that going into business with a friend put the friendship into a test. If we passed the test, the business relationship will be so strong. But, if we fail, there is a risk of losing the business as well as a friend.
Leno — Yes, that is the case when we have trusted each other very well. By the way, have you any experience with that?
many friends have started businesses successfully.however you all need to have the same goals and objectives.If personality characteristics is different you cannot succeed .These personality characteristics may include eating behavior,drinking behavior,saving culture.If they completely differ from one another,you cannot succeed.I currently,i cannot start a business owned jointly,may be if it is a family business or big businesses which have a high rate of sales.
Yes, is a very bad idea to engage in business with your friend, even though u trusted that person, business is business.
I think it depends on type of business. Some busineses are good to with friends and therefore, this doesn’t apply to all business types.
Yes business is business and the rules for relationships must be put aside in order to run a business with Freinds.
Its good to start a business with a friend. Both of them having same common interest and know each other . But the problem is both of them must fully committed to the success of the business . If the business is very dependent on one of them , then in future the business might face some turbulence.
To me it’s not a bad idea. Many times we need those friends to contribute in order to raise enough capital for business start up or expansion
Some of the cases I have encountered are like that. This is because of a friend’s incompatibility as well as mistakes he can make. We just need to find good friends to build a business with.
Yes, to me is a very big bad idea. There’s no friend in money, once money is involved
Kenneth — I agree with you. There many cases I personally observe where friendship end because of money.
Ad — Yes, that is the key. If we decide to get into business with a friend, we have also to make sure that he is professionally able to run the business.
It’s not bad, but you must respect bussiness ethics and everything that goes around. Being professional ,respecting rules and regulations.
Yes I agree, friendship in business must be separated inorder to taste success.
Bad business with friends will cause fights and eventually break down the friendship. It was very uncomfortable for me.
We can do bussiness with your Freind and become successful if you apply work ethics strictly. In business the most important is to avoid rulind out some people. Everyone should follow the rules strictly.
Strict business rules are a very important determinant factor in the survival of any business. I agree with you Leno, if rules are not followed, survival is at stake.