Whenever we are dealing with an unknown situation, it’s in our human nature to turn to people who have our trust. We like to feel supported and within our comfort zones, and for many people, this type of feeling can be found within a family. While others like to turn to their friends.
Therefore, it comes as no surprise that some people decide to start a new business alongside their friends. In the beginning, it might feel like you will have someone beside you that speaks the same language and understands your every idea and plan. However, things can sometimes go downhill. In this article, we’ll explore the good and the bad sides of starting a business with your friend.
The Good Sides
If you decide to start a business with a friend, it means that from the very beginning your business partner will know exactly who you are and what they can expect from you. This means that you will save a lot of time on having to explain your thoughts and ideas since the person you’re talking to already speaks the same language.
Secondly, best friends usually share many interests. This means that it’s very likely that both you and your friend will aim towards the same goals.
No matter if you’re trying to be original or to make a profit if you’re on the same page that most of your business decisions will match.
Also, when you’re starting a business by yourself you have no one else who can understand what you’re going through. You have to do everything on your own, especially in the beginning. But, if you start a business with a friend, you can always have someone beside you who will have a word of encouragement or at least someone who knows exactly what you’re going through on a daily basis.
The Bad Sides
However, not all businesses that started among friends ended with a happily ever after. You must first take into consideration what kind of person your friend is. Your friend can be an excellent buddy, who will always have your back in private life. But in the world of business that isn’t enough. If your friend isn’t responsible or doesn’t want to work as hard as you, eventually, things will fall apart.
Some people decide to start a business with their friends while they are still immature. It might seem that all it takes for a successful job is to be happy and have fun all the time. But if one of the two comes to realize that in order to have a business that is going forward a person needs to be fully committed, then those two friends could end up going their different ways.
The worst-case scenario is that the two friends end their friendship. Some people can’t separate the private from the professional, and can easily get insulted. So, even when you’re giving them professional advice, they might get offended. And when it comes to friends, it can end in a sad and irreversible way.
If you’re considering starting a business with your friend, make sure to think it through. The fact that you get along personally, doesn’t have to mean that it will be the same once you start working together. This can either be the best or the worst decision of your life, so be careful.