Will you start a business together with your best friend?

China
June 2, 2009 3:02am CST
Good day everyone, Will you start a business together with your best friend. The reason i bring this up is because i've heard one of my cusions say " Never ever doing business together with your best friend, because you will end up lose him/her". Per his idea, when you and you best friend have no conflict, everything seems to be perfect, when there is arguement about money, that's how your friendship start breaking. What is your opinion? Will you ever start a busniess together with your best friend? Do you have good faith that you guys can went through thin and thick together?
2 people like this
19 responses
@xixi_abby (211)
• Indonesia
4 Jun 09
Hi, Vivian. i think yes. because i think i better start a business with my best friend than a strange person. i think we know each other already and beside that we must trust each other and about the money problem we must clear. the important thing we must respect each other. thank you and have a nice day :)
2 people like this
• China
4 Jun 09
Hi Xixi, I alway think that doing something together with my best friend will be great. If we can earn money together, that will be great, if not ,then what?
1 person likes this
• Philippines
4 Jun 09
yes, everything that i know that will make us earn together,i'll probably share it with my bestfriends.like here in my lot and other sites.i make it sure that my friends will earn too.
1 person likes this
• United States
3 Jun 09
I don't think I could have a business with any of my friends. Because like you said there would be a lot of arguing on how things are going to go. And who makes what kind of money. I would rather have my friends then to argue about money or how much me or the other person will make. I think it also depends on what kind of business you are going to run to. I mean like craft shops,or part stores for car parts.
2 people like this
• China
4 Jun 09
I think doing somethings that you both interest in will help to resolve some of the worries that you have.
• United States
4 Jun 09
very true. If 2 people agree on what to do in working together it might not be so bad. It could just work out working together.
@coon123 (14)
• China
4 Jun 09
i have some terrible experience about co-business with my friend so i will not do this thing forever
2 people like this
• Philippines
4 Jun 09
i wonder how's your relationship with your friend now. maybe you need talking a lot and resolve problems with your friend.backing out just don't solve the problem.
@Loverbear (4928)
• United States
3 Jun 09
Yes, I would go into business with my best friend, but I would go to an attorney and get a limited liability partnership drawn up. There are several good reasons for doing this. First, it will take a lot of strain off the friendship by having everything in writing. It will set down the paramaters of who earns what etc. It also will provide survivorship provisions for the remaining partner if one of them should die. (that saves you from the family selling off the partners share in the business to someone who you wouldn't want to do business with.) It will provide for the disposition of assets if the partnership should dissolve. It isn't saying that you wouldn't trust the friend, it is just setting up the business in a legal way that would help the friendship survive the pressures experienced from setting up and establishing a business.
2 people like this
• China
4 Jun 09
Hello there, I should said that is a very smart idea of having the attorney involved. But you got to be carefully, you'd better assume that your best friend know you that well that he/she won't get your wrong!
1 person likes this
@macel19 (202)
• Philippines
3 Jun 09
If you're bestfriend is trustworthy and know how to separate personal life and bussiness works then why not.In putting up a bussiness you should also considre the streghts of your bestfriend and his/her line of expertise. You should not get your bestfriend as a bussiness partner only because of how long you've stayed as friends or for friendship sake. You should plan things out and reflect what will happened in your bussiness if you're working with that person. Make sure that you have the same interest and his/her skills is line with the bussiness your putting up, because if it's not then it will not work and your friendship will eventually be affected.Running a bussiness even if it is small or big ones are not easy there are a lot of factors to consider so that there will be a positive outcome. It is really important to consider who your working or dealing with.
• China
4 Jun 09
Hi Macel, What you say is really ture! I've heard that two of the best friends became the business partner, due to the bad operation and reasons, the busiess failed. They are no longer friendss, they are more like stranger to each other. I can't let that happen to me.
1 person likes this
@jayrene (2713)
• Philippines
3 Jun 09
no i wont... again... i have a bad experience with that kind... although we never really fought for it, but the thing i went through was really bad. i did almost everything, from money to work, i mean almost everything... it was not really fair. i dont know what that person was thinking... it seems like all they want was the money, when the profit was divided i divide it equally but when it comes to work, i did most of it. i will never trust a friend with a business again.
1 person likes this
• China
4 Jun 09
Hi Jayerne, I am sorry about what happened. I think you should have told your friend about your feeling. If you don't tell, no one ever knows what you want, right?
@jayrene (2713)
• Philippines
4 Jun 09
i dont know if it is needed to be told on what to do, because at the very beginning, we already discussed about the sharing of workload. anyway, it was over now and i will never do the same thing again...
• Philippines
2 Jun 09
Yes! For me, if you have a strong foundation with your best friend. You will never have any problem when it comes to money. . . you just need to practice trust and honesty.
1 person likes this
• India
2 Jun 09
yes!.... that is correct.
1 person likes this
• China
2 Jun 09
Hi Shalybhe, I think you have a good point about friendship. But, have you ever try to start a business together with your best friend?
@CHORES (231)
• China
14 Jun 09
I think I'll start a business with my friends, Have you ever seen the movie Bride War?I just believe friends may have conflicts but they will be together finally becuse they are friends,If you lose him/her, that means you're just partner not true friends. Happy today.
1 person likes this
• China
15 Jun 09
Sounds good to me! I agree that start a business with a good friend is more conformtable with a strager. But sometimes, when refer to money, friendship can changed!
@flagella08 (5069)
• Philippines
4 Jun 09
i don't think there's a problem in getting your bestfriend as your business partner.proper business management and communication with each other won't harm the two of you.just make sure that everything in the business is being talked about and a lot.share ideas too.
1 person likes this
• China
4 Jun 09
Hello there, If commucation and proper management can be done, that will surely help alot during the business. I think personality also important too.
• United States
3 Jun 09
depends on your friend ! can they be trusted ? Will they stick it out through tough times ? YOU better amke sure They can ! Business ventures are always risky !
1 person likes this
• China
4 Jun 09
yes, better talk to your friends about the plans before move into reality.
• United States
3 Jun 09
I have always been told never do business or lend money to family/friends. I can see why: although I love my best friend dearly, we are VERY different, and have our own methods of getting things done. I tend to be more aggressive/emotional than him, while he is mellow to a fault. We would be fighting by the end of the week!
1 person likes this
• China
4 Jun 09
We've been told the same thing. You are very clear about the difference between you and your best friend. Being together is cool, but doing business together, think before you lead.
@dianmelydia (2272)
• Indonesia
3 Jun 09
I think i won't. You know that money is a very sensitive matter in a friendship. We can't use our friendship foundation for business trust. We need to know our friend's ability. In my opinion, a business partner is much different with a friend. We need to have business partner for doing business, not a friend. Business friendship is money matter. You are friend with them as long as you are on business with them. It's totally different than a true friendship. When you start to doing business with your friend, that's mean you are ready to lose them as your true friend. That's the consequence and the fact. Have a nice day and happy mylotting.
• China
3 Jun 09
Hi Dianmelydia, You did have a very good point there. That is what i heard of. Some best friends become partners, day after day, when business growing and growing, when they have arguments, friends is no longer friends. Sad story!
@TRS757 (19)
• United States
2 Jun 09
Yes, If you have enough trust in your friend this will be a great thing. I believe working with a friend is better than working with a family as to he/she will know you better. Not saying that our family don't know us....but be honest do you act the same around your friends that you do around your family?
1 person likes this
• China
3 Jun 09
Hi TRS757, Couldn't agree more! We did act differently. Best friends always the one who know you the most!
@Mtherapy (27)
• Indonesia
2 Jun 09
Mtherapy... as long as he/she is really your best friend, why not? You must trust your best friend in deep of your heart... I think it's easy to start business together with your best friend, because you both know each other.... always positive thinking, positif talking and positive behaviour.... you will be success with your best friend.
1 person likes this
• China
3 Jun 09
Hi Mtherapy, Right! Alway behaviour postitive, you and your partner can overcome every difficulities!
@lethalboy (112)
• India
2 Jun 09
Starting a Busssiness with a best friend is the best thing to do cause you would be trusting and he too would be trusting so there would be no bad feelings among you and so your bussiness will be free of fights also the foundation of your friendship should be good in order to be good and understanding partners you must sometimes agree to his decision and also he should do so this make a good rapport among you which increases the prosperity of your busssiness
1 person likes this
• China
3 Jun 09
Hi Lethalboy, I agreed. Repect each other's decision is very important to keep the business running. But what about if you think his decision is wrong and you think your decision is better?
• India
2 Jun 09
yes.. Starting with business with a good and best friend is not a wrong thing... When we r starting with that guy and build the relationships with goodfaith and confidence and believeness to each other.
1 person likes this
• China
3 Jun 09
Hi Venkataramani, I think you are right. Good faith on each other is very important.
@syankee525 (6294)
• United States
2 Jun 09
yeah i would because i trust them all.
1 person likes this
@kunal0099 (234)
• India
2 Jan 10
Well i always believe in good relations no matter if that in business too. I prefer people, to work with, only those i know from a long time and those supported me every time.
@jpertin (60)
• India
2 Jan 10
Most of the times, Best friends are those whose thinking and attitude are like yours. i think starting a business with your trusted friends would be a good idea.