When leaving School, college or University and you head into the big bad world of business one of the best things you could do is go into business with your best friend. It feels good to know that you could have a friend by your side helping with a your new venture. Working together will be so much fun. Or so you think!! Have you stopped to think, is this the best thing to do? Have you said to yourself whether or not they have the qualifications to take on the job or whether they have the thick skin and work ethic? Some friendships can work extremely well, but its based on understanding each others strengths and during business making sure that the business comes first over friendship. But these are very few and far between as business and pleasure don’t mix very well. So the first reason you may have thought it was a good idea could be the reason to why its a very bad idea. Myself and Lolo are the best of friends and we respect each others as business partners and our friendship comes a close second place to the business we run with this website and lifestyle.
Well, could your best girlfriends be your business partners? Should they? Here are five key factors to look for if you and your friend are considering running a business together.
1: So, your friend told you numerous stories about how she cheated her way out several responsibilities, and you endured the tales, for whatever reason, and you even consoled her maybe. But, when it comes to forming a business with someone, you literally cannot afford to partner with someone who lacks integrity, because one dishonest move from your partner, and you’re BOTH held accountable. Honesty is one of the biggest traits to seek, when seeking a business partner.
2: Has your potential business partner, a.k.a. girlfriend stood you up “a couple” of times? If so, review those “couple of” times for severity level and determine if she had good enough reasons or not. Nine times out ten, folks who have no respect for your time or expectations will have even less respect for your business needs. Ensure that any business partner, particularly your friends are reliable.
3: What are the qualifications of your potential business partner? Do you actually NEED her to co-own your business, or could she play a smaller role which she actually excels in? For example, if your business partner is really just a great publicist and not much more within the context of the business, figure out whether she’d be best as the company publicist, rather the company president. Co-ownership is not always necessary, Some people just want the role for status but there’s always an employee or consultant option which could be better suited.
4: Does your girlfriend throw tantrums or go crazy for no reason when things don’t go her way? If so, she’s not mature. And guess what? maturity is a major trait to look for when partnering up in business. You don’t want a partner that will cuss out a potential client for no good reason, or someone who will embarrass your brand. If you’re dealing with a friend who’s prone to immaturity, do yourself a favour: don’t go into a business with her.
5: A healthy track record is a key evaluative tool to use if you’re thinking of partnering with your girlfriend, business-wise. If your friend just isn’t used to paying bills, showing up on time, or proving herself in any arenas that overlap your business venture, then you’re in for one rocky business relationship. More than anything else, a track record speaks for itself.
If your friend passes your analyse test then you will be in for the ride of your life in business, there will be arguments, tears, stress, financial l difficulties and challenges but you will go through it together and when you cross that line of success it so rewarded and there’s nothing better then achieving this with a best friend.Awww.
have you gone into business with a best friend, how did it work out?