So you want to start a company. Yes, good idea. Not only that, but you want to run it with your best mate. Sound good…to you.
Friends have bled and died for each other. They have been betrayed and made up again. Friends have shared girls/boys, under ware, rooms, booze, family, ideas and road trips. Not much can get between friends, that is true. There are however some instances where friends should not necessary be together. One of those examples is business. When it comes to money and power friendship seems to take a neat third position and very soon your best friend is a lying fake who has done nothing but suck up you energy to promote himself and take the profit!
In other words, be careful. I have attached a link to a good story about this topic and also some use full tips when considering venture like this. Personally, I started a company called “Big Eyed Deer” with three friends and in the end, although very amicable, we struggled to make it a BUSINESS. To come up with a business model we could all agree on or decide what the vision for the company was. Even though it was fantastic to hang with my friends all day and run a “company” in the long run it was not sustainable. Our friendship was more important than the company. We are all still very good friends which may have not been the case we pursued “Big Eyed Deer”.
Some things to consider before starting “Best Mate Inc”
* Make your agreements explicit so that you don’t break implicit promises * Detail your agreements so that your promises are clear * Don’t be afraid of discussing negative scenarios, so that you don’t add the stress of misunderstanding to already bad situations * Write things down so you’ll remember * Don’t make things work at all costs, so that you don’t spend the next years living with a deal that’s not acceptable to you * Don’t assume things will get better with time, so you’re not surprised when they don’t
For more reading on this topic and an in-depth account visit: