Starting a business with friends is easier and more fun than building it with someone new to you.
Understanding each other’s character can be the initial capital to strengthen this cooperation.
Unfortunately, there are also some people who end up with hostilities, because there are differences in one thing or another.
If you can’t separate personal relationships from work, this can be a problem for you. Therefore, do not arbitrarily choose friends as your working partners.
Here are 5 tips that you should do if you want to start your business with friends.
Make Work Agreement Obviously
One thing you should always remember is to distinguish your friendship affairs from work. You must arrange a ‘black and white’ agreement before starting the business.
Many business cases that fail and end in dispute because there is no agreement in various ways, such as regulating the distribution of profits, position, as well as decisions if things happen unexpectedly.
Express Vision and Mission
Vision and Mission in a business can lead you towards your and your friend’s business goals.
Equalizing this vision and mission can certainly help you and your friends to be more compact and easier in terms of decision making.
Transparent and Trust Your Friends
Don’t let the crisis of trust befall you and your friends because it can be the biggest risk.
Transparency in all things is needed to build a trust between you so that both parties can be fair.
Especially the problem of weekly operational reports, financial, and many other things.
Don’t be selfish
Bringing together two ideas from two different individuals will certainly be difficult. Thus, throw your ego so that the business can be well in accordance with the plan.
Prioritize shared interests in order to achieve your business goals. If your idea is indeed not good for running a business, then lower your ego and use the best ideas for the progress of the business.
Ready to accept risks
According to entrepreneur.com, if you aren’t prepared to take risks, you have no business being an entrepreneur. Entrepreneurship is fundamentally linked to risk-taking.
Don’t be afraid to take and accept risks. Be prepared to act bravely in accepting all the possibilities that can happen to your business.
Learn first all the consequences that can be generated from your policies and your friends and bear it together, so as not to end up being a dispute in the future.