Comments on: Question: Would you prefer starting a business with a friend or a reliable non-friend contact?

By: muntero

muntero — Fri, 15 Aug 2008 07:44:25 +0000

i prefer to do business with no friends, it’s better

By: sawai

sawai — Fri, 01 Aug 2008 07:14:54 +0000

Well, reading this post after having a littlle bit of experience and burning my hands, I would any day prefer starting business with a reliable person who is not a friend over starting business with a friend.

I would also like to add that it does not matter if somebody is a friend or not. It only matters if a person is reliable. Things will always work out till you make sure emotions stay out.

This is just my opinion.

By: Company Formation

Company Formation — Wed, 30 Jul 2008 15:35:48 +0000

When entering into a business relationship with another person you need to consider the exit strategy. I would strongly recommend getting a partnership agreement drafted for any partnership or a shareholder agreement for members of a limited company. This should include clauses on what to do if one partner wishes to leave. There must be an amicable way of resolving any separation between business partners or the business as an entity may suffer.

By: Bes

Bes — Tue, 05 Feb 2008 06:01:41 +0000

Thanks for sharing Sawai. How is your site coming along? Long time no update. [sorry for the late response, am getting back to a lot of things including comments and responses]

By: Sawai

Sawai — Tue, 13 Nov 2007 19:24:14 +0000

I know what you are talking about…

I wouldnt mind starting one at all with you! But if it were somebody else, I will be forced to think

Cheers!

By: Bes

Bes — Tue, 13 Nov 2007 03:19:56 +0000

Sawai, thanks.

How about you: would you open a business with a friend? That reminds me about something…

By: Sawai

Sawai — Thu, 08 Nov 2007 08:48:36 +0000

lol mate!.

Very good topic…

By: Bes

Bes — Sun, 04 Nov 2007 20:10:41 +0000

Thanks for the comment Zimmermann, I really appreciate it.

Congrats on the business. How long has it been open [I am guessing since 2006]? You do share the risks and the work, indeed. I tried browsing the site a bit and wanted to find some products but I am sure I got lost somewhere in the shirts section, heh.

If you had a choice now, would you prefer opening another business with that friend? Do you think the reason your business is going well is because of the friend you chose to start the business with?

Thanks again.

By: Nils Zimmermann

Nils Zimmermann — Thu, 01 Nov 2007 23:24:45 +0000

Hi.

I have started an online business. Its an online-shop (it is german), that is not existing in this form in germany.
I startet the Emo Shop with a friend. I think it has only positive effects, if you start a business with a friend. You share the risk, the work… Isnt it?

Bye,
Nils

By: Bes

Bes — Wed, 31 Oct 2007 08:44:03 +0000

Hi again TigerTom, and thanks for explaining further. Maybe there should be a post about mixing business and family, as those are some good points. Being the boss brings leverage in many cases indeed, heh.

I wonder whether the relationships of parents and children, who work together in places like grocery stores, is the direct result of their work experience: good work experience = good relationship, and bad work experience = bad relationship.

By: TigerTom

TigerTom — Mon, 29 Oct 2007 22:28:27 +0000

The business relationship will affect the familial one, and vice versa. I would hate to work with my wife or girlfriend. A bad day at the office would mean a bad night at home.

The only exceptions to this would be:

1. Put a family member on the till, if you take cash in your business.
2. Influencing family life will be a lot easier, if you are the big boss: more leverage

By: Bes

Bes — Mon, 29 Oct 2007 18:50:41 +0000

Toronto Web Design, thank you for commenting.

That is a good example, specially if your friend was a best friend for you. Do you think the friendship had anything to do with the business results, or did friendship increase/decrease/affect the business directly [meaning if friendship wasn't there, business would have ended in a different manner/result]?

Jagad Guru das, thanks for the comment.

So in your case, you found out that a supposed-friend was not a friend in a business, and you saw their different nature.

I think you have a very good and important point, that in a business with someone you do not know you can be or may be more alert in order to figure out the other person.

Gorilla trades, thanks also for sharing your thoughts on this.

So in your view, friends should not become business partners? Do you think it is possible for friends to start a business and keep it away from their personal and friendship aspect of their lives?

TigerTom, thanks for sharing. Do you think any business or personal relationship can help each other?

I like your comment; it can be read as a famous quote.

AdoptionMoM, thanks for the comment. A very memorable username you have, by the way.

So you are for a different idea than what Gorilla trades or TigerTom [above] think; you think that with starting a business with a friend things have a much better chance of surviving than a stranger.

When you say it is “a personal choice”, do you mean it depends on every situation or that it depends on whether or not we want to do it, or something else?

—-
Sorry for the late response everyone; I really apologize for that. I am catching up now to several comments and replying, and took more time to think of different things and answers to a lot of comments here before responding.

By: AdoptionMoM

AdoptionMoM — Mon, 15 Oct 2007 22:21:15 +0000

i would prefer to go into business with a friend because it is someone you can trust and be open with and you wouldn’t (shouldn’t) have to worry about being stabbed in the back or anything like that. they both have their pros and cons, so its all really a personal choice.