Doing business with your friends ?

Doing business with your friends ?

When we want to become independent, do our own thing, the best way we can do it is by having our own business.

In case we don’t have enough money to do that, we can find a solution in our family and our friends. But is it that easy ? Family can forgive you almost anything, but when you are working with your friend, and something bad happens, will it be so easy to move on, or not?
First you need to ask yourself, to what extent you do trust your friend. You tell him/her everything, know their secrets, etc, but we are talking about business here. Could you trust them with your life or sometimes yes, sometimes no ?

That is the first question you need to ask yourself, because if your relationship lacks trust, everything else is less important.
When you decide what you will do with your company, you need to figure out if your friend knows “ the subject “, because if he has no experience or knowledge, he/she might ruin your business.
They need to be skilled, and if they are better at something than you, in case you don’t know something, they will be able to do it instead.  At the end of the day, your partner should have a compelling value proposition that you lack.

If he/she “ passes the test “, the next thing you both should do is do a trail before fully committing to anything.
Create a project, see how your future partner will act and if the two of you make a good team, and if it goes well, then it is a sign you should choose him as your partner.
Just don’t do anything too hasty.

 

 

 

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