Getting into bed with your best friend?

deandean

I mean of course, starting a business with your best friend. It's a completely new dynamic.

I had limited experience of the situation many years ago, and I recall that it is fine when the business is going well (i.e. making money) but the friendship sure as hell sufferers if (when) things get bad in business.

I'm now looking at going into business with my 'current best friend' of may yeatrs and I feel as though I should cancel his "best friend" status as I don't think it coexists well with him being a close business partner.

I'd appreciate any ideas/comments from anyone who is in there before, or currently is in this situation.

Thanks!

The_Pretender

Could you not try find a new business partner and keep your best friend?

irish_goat

You can do it if you clearly define what each persons role is at the start, how much each is investing (time and money) and how much each person owns. Arguments can easily start if one person isn't pulling their weight or starts demanding more of the other without it all being agreed upon at the start.

Peterdalkey

Or just get married to each other, then when it is over it is REALLY REALLY O-V-E-R!! The general experience would not be in your favour.

Buttercake

i would avoid it, i started a business 8 years ago with a very good mate.. honeymoon period for 1year and he decided he wanted out, i continued with the business for another 3 years built it up to sell it, he wanted a share after i sold it. Court cases, we obviously dont speak.

Gloomtastic!

Buttercake wrote: »

i would avoid it, i started a business 8 years ago with a very good mate.. honeymoon period for 1year and he decided he wanted out, i continued with the business for another 3 years built it up to sell it, he wanted a share after i sold it. Court cases, we obviously dont speak.

And did he win his share?

Buttercake

Gloomtastic! wrote: »

And did he win his share?

No

hinault

I think the old adage, keep professional life and personal life separate, is a good one generally.

I hope the OP's new venture works out though.

relaxed

Join nothing except the rosary.

Axwell

Just avoid it, you may think that you will never argue, you are best friends - what could go wrong? But after a while the cracks appear and little things start to add up and it just gets worse and worse. It starts with things like one of you being late a few mornings and coming in an hour late while the other is working or hard, or one feeling left out because they aren't the one speaking to the client on the phone and it will just spiral to the point where its ruining the business and your friendship.

As friends its hard to turn around to to them and pull them up on stuff. When you don't have that friendship and its a business partner its easier to set out rules and if they aren't being followed then bring it up and get it sorted.

moycullen14

As others have stated, fine until it starts going wrong. In my experience, any business venture will veer off plan, at least, if not fail.

I was involved in one a few years back that started to lose money. Jeez, the aggravation that was attributable solely to the fact we were 'friends'. What would/could have been sorted out very easily with an 'arms-length' partner became very difficult to solve. Throw 'the other halves' into the mix - who also, of course, are friends and you have a recipe for disaster.

Any problems/disasters that happen will be much harder to deal with if your partner is a friend (Don't even start me on families ).

I'd avoid it, if I were you.