A few years ago, my friends and I decided to start a business. We had the experience of successful cooperation of old friends: our acquaintances were the owners of a successful web studio, where they shared the rights and responsibilities peacefully. We knew that this quite successful studio was not their first business experience, but the result of trial and error, but it did not stop us.
We talked about it this way: we have excellent experience in related fields, we trust each other, and if we invest together, we won't have to take a loan to start the project.
Looking ahead, I would say that our joint business with friends did not last a year. The reason, as I now understand it, is unjustified optimism about each other. We were ready for the challenges of the market, but not at all ready for the specifics of business cooperation. Therefore, first I will talk about the disadvantages, and only then about the advantages of a joint venture with close people.
So, what's wrong with your friend being a business partner?
First of all, you don't really know if you can work together, but you're risking both business and friendship.
Because a company may not get along because of conflicts, and this will affect personal relationships. Where you disperse with a stranger like in a sea of ships, you can become enemies with a friend. It is difficult to maintain a balance between work and personal life in such situations. As a rule, if you have diametrically opposed approaches to business, it will become clear at the stage of developing a business plan and corporate culture.
Secondly, legal registration can turn into a problem. It's like a prenuptial contract: many people at the stage of being in love believe that a contract is a manifestation of distrust, and then they tear their hair out.
At the initial stage, no one thinks about how to resolve conflicts in the future, does not calculate the efforts invested, and sometimes even the funds, does not seek to hedge against fraud or just not too fair distribution of profits. Over time, therefore, there may be serious conflicts over recognition or allocation of funds.
Finally, when you decide to start a business with friends, it can be difficult to identify a leader. We didn't have them because the main engine of the project was originally one person, but with a more even distribution of ideas and efforts, unforeseen conflicts can arise. Planning vacations and weekends will also be difficult at first, especially if you are used to having a rest together. Until you find a reliable person who will monitor the business in the absence of all its owners, joint vacations and weekends will not be. And at the start of the project you will not find such a person.
However, business with a friend has not only disadvantages, but also pluses: - -
- Reducing financial risks. You don't have to go to your bank: starting investments and financial risks can be divided into all, without contacting the credits.
- Reduction of personnel costs. At the start, you can perform a wide range of duties, not involving outside workers, and therefore not paying their salaries.
- More useful connections. Links are key to business, and the more people in the business, the more useful connections you make.
- Psychological support. Starting a business is a difficult, stressful time. Friends will support and help you to keep up the good fight.
To be continued in the next part https://zen.yandex.ru/media/id/5d7b86692fda8600ad99b36b/a-business-story-with-friends-part-2-5d92143a98fe7900ae82fff0