My best friend thinks I backstabbed him
June 19, 2008 3:30pm CST
My best friend, Jamie, had started an online business about 2 years ago and about a year ago he invited me as a co partner and invester. I said yes, trusting his business, and invested $2,000 dollars. Over the past year, I have invested about $5,000 and his business hasn't been making any profits at all. So, I had to break to him the news that I wouldn't be investing in his business anymore. He, being the stubborn guy he is, got mad at me saying that I didn't believe in him and all that nonsense. I can't believe that he doesn't realize his business is going nowhere. Do you guys have any advice for him and what I should do to make him not hate me?
• United States
20 Jun 08
It would be a shame for a friendship to deteriorate because of money, so I hope that you can work it out as friends. It sounds like he should be more grateful that you have been so willing to put money into his business for a full year. You have really given him time to work on his business and try to get something going. It should be his job to show you what his business plan is and either show how he is on the right track or how he plans to produce a profit. Otherwise, he has no real right to be upset with you. Hopefully you can just explain that you cannot afford to keep investing without a promise of return on that investment. Honesty is the best policy, so I would advise just being forward with him about how you feel and why you made the decision to pull out. Best of luck to you in your friendship.
19 Jun 08
First and foremost be as open and honest as possible. He has to realize that he is going nowhere with this business and you have to tell him that. Tell him that you don't have the funds to invest anymore and that you have already invest $5000 into a company that is going no where. For over a year you should at least have seen some sort of a profit. I wish you luck.