Going into business with a friend, wise or not?

[Dowenship]

First of all..I think your other friend is either jeolous or doesn't want you to involve with the business friend you are talking about. But sometimes we need to be careful. Why can't u start the business on your own. Although U guys can go into signed agreement to limit your fears. But I prefer you do the business alone.

 

[Seyesystem]

Getting into business with a friend depends on the kind of friend the person is but to me no matter how good that friend is I won't do business with a friend because business is business and friendship is different from business. Doing business with friends is very risky when money begging to flow now someone friend may change because you can know an individual well until when he get money. So in order not to go into problems with friend I will rather avoid doing business with them.

 

[Abibatabosede]

First you need to be aware of the partner you want to go into business with if the partner is trustworthy,honest dedicated,has a right attitude towards the work ,a time consious person. So I would advise that going into business with a partner is not good.

 

[Diamond07]

If your friend can be trusted, there's absolutely no problem to venture into business together. My fear in partnering with someone to start a business is if there is distrust or the person put in equal efforts as you are.

 

[Zamaney]

“Starting a business with your best friend is a special experience, because you get to share your vision and accomplishments with the person closest to you,” Jagadesan says. “As you run your business, there's no doubt that you'll have moments when you feel unmotivated or lost

 

[Yewande]

First of all you need to be aware that a good friend does not and will never equal a good business partner. Make sure you guys agree to put in equal amount of work and dedication because failure of your friend to do that may lead to resentments which is very bad for business. Trust is also key.

Hmmm. Very wise word here. A good friend does not necessarily mean a good business partner. In doing business with your friend as partner, you really need to agree on many things so that your friendship will not come in the way of making a successful business

 

[sam386150]

Going into business with the friend is a wise idea and is very nice, they said two head is better than one, it only depends on the nature of your friend is, so nothing wrong with doing a business with a friend but you must make sure your friend have a very good business idea.

 

[Divulgence]

Certain times friends and family members make good business partners. That said, not all friendships can evolve into business partnerships, so carefully choosing who you work with is essential. The most important part when starting a business is to make sure everyone has similar expectations and values.

 

[Rainlover207]

You don't need to rush this because Going into a business with a friend is something to be debated.
Going into a business with a friend in a way is wise and in a way it is unwise.

 

[Greatguy1]

Going into business with a friend is not a bad idea. You just have to be careful and make sure everything is in order. Write out your plan and ensure that both parties sign proper dotted lines. Ensure you both know much about the business or you get an administrator to run it on your behalf. Friendship can work with business if everything is in order.

 

[Aniwhyte]

Going into business with a friend is not in any way advisable, I won't dare trend such path no matter how close our friendship is. But if such friend is very business oriented then I might give it a shot. But I'm sure going into a strong agreement with him or her with a lawyer as a backup.

 

[Onachukwu]

Well i womt totally say it is bad to go into business with friends but from most experiences it have been sent that it is someone close to u that will stab u at the back. So if u can handle the business yourself i suggest u do it on ur own

 

[Ifective]

Doing business with someone you trust is not a bad idea. Therefore, if the friend in question is a trustworthy person, then why not. It will even help you both to join heads together to move the business forward since you are already use to each other.
However, if the person or even you is a greedy person, it might affect the business and even break your bond of friendship.

 

[Hdre3m3n]

Starting a business with a friend is not a bad thing, but at the same time, it is very risky. You both might share the same business idea but your attitude and mindset towards the business might be different and this could result into misunderstanding.

 

[Machismo]

Going into business with close buddies have both advantages and disadvantages. Firstly, you both share the losses and likewise the profits in the business. And in cases whereby issues arises, and it's not properly managed, it could be the end of the business.

 

[Milz]

Good friend most don't become good business partner. Make sure you guys draw up a contract showing every of your investments and agreement. Money change people so you won't be shocked when you supposed good friend changes when money gets involved.

 

[Shahid Abbas]

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?

If your friend is a good friend and trustful person , then you can start your business with him. First you should sign some document with him and confirm the agreement then you have to join him in any business.

 

[Koldej]

I have always feel going into a business with a friend is something I can't really do, not that I'm feeling so proud , but the truth no matter how much you love or trust each others you will always have issues and sometimes you may not be able to settle your differences which will definitely affect the business

 

[Asma]

business with friend is a good plane. but i think going into a business with friend is risky too because some time issues in a business will break the friendship also the business too.

 

[tuna89]

From my experience I would advise that you do sole proprietorship instead of having a partner in the business , your partner may have a different motive and this is not safe for the business, you have to follow the business plan if you want the business to grow , your partner may have ulterior motives, if you're going to get a partner, make sure a lawyer is involved. instead of having a partner you can employ a professional who can innovate in the business.