Going in with a group of friends good or bad?
- This topic has 3 replies, 4 voices, and was last updated 2 years, 4 months ago by D.Feder.
- January 21, 2021 at 8:11 pm #519FrankyParticipant
A few of my friends and I have been thinking of ideas for a long time, and we came up with a new site idea that we are going to go in on soon. I can’t reveal any details yet, as it’s top secret, but I worry that working with my friends could pose some problems. I’m worried that we’ll end up hating each other if we start to make a lot of money.
What do you guys think though. Would you do a startup with friends? Or would you rather do it with someone else?
I just worry we’ll mess something up, and we’ll all lose each other’s friendships.
- January 21, 2021 at 8:23 pm #524ColeParticipant
There’s always a chance of something like that happening though, and that’s something you and your friends need to understand.
I would love to go in with some friends to be honest. I have a few friends who are very knowledgeable with business too, so if I have to go with anyone, it would be them.
My best suggestion, is to take it slow, and don’t rush into it.
- January 23, 2021 at 8:07 pm #544DavidParticipant
I don’t think I would go in with most of my friends. I think the big problem I have with it, is that if anything goes wrong, I could lose a friend or friends. And I really don’t want to stress about that, so I wouldn’t go into a company with friends, unless they can pull their own weight and do the job good.
- February 4, 2021 at 11:39 am #1087D.FederKeymaster
I believe that truly good friends can enter into a business together. I have seen it first-hand several times, and in every single case, the friendship changed.
In all cases, they have remained close, but the relationship changed.
Business partners will often not see eye to eye on certain issues; this will cause differences in opinion and usually put a strain on a relationship.
Should you do go into a business with a friend that you absolutely trust. You must make sure that everyone knows his position and job. You must set clear expectations and who brings what skill, knowledge to the table. It would say that everyone knowing their job and proper communication is essential.
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