Going into business with a friend, wise or not?

[Dashpiku]

I will advice you not to go into partnership with a friend . I have fallen in such trap before and i do not want to delve into one again . It's a very sad experience for me . One of the disadvantages of going into partnership business with a friend is that you never can tell if has a negative thoughts.

I have also seen many such example, where the partnership does not last that long. it is therefore very important to file a legal agreement before start a business. A verbal agreement is never a solution.

 

[Mayox25]

There is nothing wrong in going into business partnership with a friend. But I believe everyone knows the type of friends they have. So I will say evaluate the character, values, emotional intelligence, focus and nature of that your friend if it will be in conformity with you in relation to the business you want to jointly go into.

 

[Ralphjoe]

Going into business with a friend wise or not? In some cases is wise to go into business with a friend while in order cases is not good to do business with a friend. Joint business is good depending on the partner.

I think going to be a business with a friend is a wise choice but it needs to be back with a legal document known as partnership deed so that whenever there is a crisis in the business there will be something to resolve it.

 

[Snazzy001]

This decision is probably up to you because it is assumed you must have known your friend in and out and determine the level of trust to which you should place on the friend

 

[Setho]

Going into a business with your friend can actually be a good idea provided that you guys are going to act very professional and that he has the right competencies and skill to drive the business forward.

 

[Kingstone]

If you are considering doing this, one must know what the other partner will bring. If it's all about capital, it will be bad to form one together. But if it's about different skills, both of you can make it work since both skills and expertise are needed to make it work.

I am a writer and I partner with my friend who is a graphic designer. He gets a job for me and I do vice-versa.

 

[eLdavis]

The kind of relationship you have with your friend should also be put under consideration as well before making a final decision. And if the friend is knowledgeable in that field, then go ahead.

 

[Grandeur]

For a business to grow, it needs to apply the use of some other technique, one of such technique is adapting partner to help in a particular aspect of the business.

 

[Dagm1]

I do not view everything poor along with working with a buddy. Although I comprehend the factor that if you men combat it may imply completion of the relationship. This holds true, I seem like of you men are actually developed sufficient to divide feelings coming from company, after that you're great to go, nevertheless this is actually difficult to perform.I want you men the very best.

 

[Setfragil]

It depends on the types of business you want to go into and the relationship between you and your friend. If you trust your friend, you can go into business partnership with him.

 

[akinlolu99]

First of all someone or the person needs to be fully aware that in as much as we are good friends that doesn't mean we are going to be good business partners there are many things that to be my business partner for example the energy the risk the effort how far is the person willing to go. Some people when their business is going through hell and is in need of cash they are willing to sell their cars or houses to pull back how many business Associates or patners are willing to take such risk.

 

[Richard92]

There is nothing much bad in getting business doing with friend. But it's advisable that if you have your capital to start business alone and do it alone. But if you do not have enough capital, you can join it with friend to start it but let it be trustworthy and reliable friend. Therefore, make sure you make a necessary documents.

While going into business with your friend but one thing you will need to consider is they should be trust only trust can enable a successful business.

 

[kayode10]

If care is not taken the business can cause enemy between two friends. the only way to avoid this is to engage in proper documentation of agreement between both parties involved in the business.

 

[Ralphjoe]

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 a very wise decision for you to go into a business with a friend of yours and for that business to be successful without any form of this with you both need to I have a document known as partnership deed that spells out all the steak that everyone have in the business and the amount of profit that is due to every partner according to the amount of money and time that all the partners contribute into the business.

 

[Thinker009]

It depends on the kind of friend you are running the business with , there are some friends that would help you uplift the business and make it acheive sucess , instead of it growing slowly

 

[Ruth]

It depends on the friend, you definitely wouldn't want to start up something with a friend that is extravagant and has the potential to waste resources. I also believe that there should be a drawn out agreement.

 

[Sotherefore]

It depends on the kind of friend you are running the business with , there are some friends that would help you uplift the business and make it acheive sucess , instead of it growing slowly

Yes you can go into a business with trusted people but even with this you have to make all agreement to make sure that the business follows the previous agreement that has been made before the business was even started.

 

[nimzy]

Going into a business cannot be concluded either right or wrong but it depends on the kind of person that is the friend you're engaging a business with if is a person who have the same business agenda with you then it is fine.

 

[Ralphjoe]

It depends on the friend, you definitely wouldn't want to start up something with a friend that is extravagant and has the potential to waste resources. I also believe that there should be a drawn out agreement.

The things that human beings are so complex to know so things can go out of hand within a very short time because you can never predict human beings and you can't know what somebody can do all the time.

 

[Stnicholaz]

Being a business partner with a friend is okay, just that you shouldn't just bank on your friendship and trust for each other to override the voice of reason. You should make sure you guys signs document of agreement for partnership known as partnership deeds in law.
It will spell out everyone's duty and responsibilities to the business, everyone's right is also guaranteed, that way there will be no disagreement whatsoever that will disrupt the business.

Exactly, signing of partnership deeds is a step in right direction. When it comes to business we should not allow sentiments and emotion becloud sense of reason.