Going into business with a friend, wise or not?

[Neeta313]

Nobody knows your friend better than you, you know what he/she can do and how starting up with them would be beneficial. Some businesses may require alot and some people may not have the resources or confidence and also time to do it on their own, so they decide to startup a partnership. As long as the business has potential and you trust your friend, I dont think it's a bad idea.

 

[Godleads1]

I am of the opinion that friends should not go into business together. But if you have the same mind set and aims or goals, you must first try to understand his nature when dealing with trivial matters. Can he be curbed, cajole or will he take somethings lightly? Kindly consider this very well

 

[Ayokex]

There is absolutely nothing wrong in going into business with friends but one has to be very careful the kind of friends you engage with. Don't start a business with a friend you've seen for long time or the one you don't trust 100$. Some friends can be deceptive sometimes.

 

[Chumzy]

I believe that everything that has an advantage also has a dis advantage in life. It is now left to you find a balance and manage both factors as they come. Having a friend means more idea and more resources but then it is a risk.

 

[Mahnoor]

You may be tempted to start a business with a close friend because you two get along well, but it’s not always the way to go. Working with friends can be a very enjoyable experience, but it doesn’t come without challenges. If you go for it, always communicate expectations clearly as the line between work and personal life can become blurry.



If you’re unsure whether or not it’s the right thing for you, learn from these founders who’ve managed to run successful businesses with their friends.

 

[Oluwasayofunmi]

Concerning the question on Going into business with a friend, wise or not? Going into business with a friend is a wise idea if your friend has the same mindset or vision as you, if not don't go into business with such friends, or else the business might fail

 

[kayode10]

You guys have to go into agreement before you start up any thing. This will help to avoid conflict in the nearest future when the business is booming. It's is good if you guys pull resources to start a business as this will help to speed up the process of starting the business.

 

[Sotherefore]

there is absolutely nothing wrong with that as far as you're going into this business you are talking about with the trusted friend then you will actually enjoy the business more because your friend will support you in all area as far as he can do it, I think it is the best option only with a trusted friend.

 

[Mostee501]

When the both friends are ambitious,have the same purpose of going into a business,understands each other and being focused on what they want,i don't see reason why they can't work together. But if there plans and purposes are different,i don't think it will work.

 

[Fatima]

There is nothing wrong in going into business with a friend if both of you have the same business idea and passion. If your friend have the skills and interest like you, then you can do the business with him.

I believe there is nothing wrong with it as well but sometimes it might not be a wise decision if a proper legal agreement and legal backing is not put in place, make sure a concrete and legal agreement is reached to avoid Compromise later in future

 

[Khizar iqbal]

I think it's a good thing to do business with friends and not because a lot of friends aren't satisfied with the dog business as well as the friendship is over now.That's why it's not good to do business with a friend. In business, I don't have any friendships or relationships

 

[Luckboy]

When you're starting a business with a friend, you have to make sure you're at the same stage of life and can put in equal amounts of work. If only one partner puts in the majority of the work, it could lead to resentment and ultimately jeopardize the relationship

 

[Bangiszz]

At the point when you're beginning a business with a companion, you need to ensure you're at a similar phase of life and can place in equivalent measures of work. In the event that just one accomplice places in most of the work, it could prompt hatred and at last imperil the relationship.theres nothing awful in beginning a business with a companion simply that everything must be balance.

 

[mayreeh38]

Well, it depends on the type of friend. While some of them have proving that they are and can be trusted, and even besties, they have along the line turned into an half enemy. I personally would not venture into a business with a friend no matter how good they are and how long we've been together.

 

[lelakil3]

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 the friend of yours know how the business works or how to deal with the risk as if knowing the consequence of it, this will be the test also for the friendship of yours as this will also become a success in business this gives a strong bond to it.

 

[Michaellee]

One thing I want to point out is that there is not friendship in business. One you are into business. Its is either the share the profit equally or one person will take more than the other. And in business consent matters a lot .its based on agreement. So business is one thing and friendship is another thing .

 

[Chibson]

There is nothing absolutely wrong in going into business with your friend. but make sure that your friend is intellectually sound and on the same page with you because it is very important that the both of you stand on the same page when running a business for the success of that business.

 

[Damismiling]

Going into a business with a friend, is it a wise decision, I would say yes on one condition, the condition is that the two parties must have a strong and concrete legal agreement and backing, that will bind the two of them together

 

[Alihaider]

When you start a business with a friend, you have to make sure that you are at the same stage of life and you have to work equally. If only one partner puts a majority in the work, it can lead to resentment and ultimately endanger the relationship.

 

[Taimoor Jutt]

There is nothing bad to start a business alongside your friend. Because a friend is who trust you and you trust him anyways try to keep things in limit try not to exceed some limits like too much trust etc but it is good move to go with your friend.