Working with friends and family can be amazing. Imagine how good of a time you have with your friends and family but then you ALL get to make money. In my experience, making money together with friends is an awesome experience because you and your friends are both succeeding. You and your friends learn and grow together, end up sharing the same beliefs as a result of the growth, and when you are successful, you become closer together. It can be a beautiful thing.
Realizing Where it can go Wrong
But unfortunately, all of this only happens if the pieces of the puzzle fit together. Working with friends can be easily compared to living with friends. You two may get along great, but once you hang around them enough to see their habits or their toenail collection (I’m looking at you Venrick) you begin to see them differently and enjoy being around them less. In a position where you are working with your friend, that weird habit could be a motivation issue and that super interesting toenail collection could be a devious side where your friend gets greedy and screws you over.
The Big Concern
So the biggest worry about going into business with friends is that you guys won’t be friends anymore afterwards. A lot can go wrong when going into business with anyone, and there are no exceptions to when it’s a friend. I’ve gone into business with a best friend a number of times, and I don’t think any of those times we were successful, and I am still very close with all of those people today. On the flip side, I know people who have worked for more than twenty years together when one of the partners took the business from under the other. I’ve experienced being screwed over before by people who I hardly know, and I’ve built incredible relationships with people who I met in a random forum online.
Balance your Options and Take a Chance
There is no right answer to whether or not you should go into business with friends. It’s running the same risk of making a deal with a guy you hardly know, you two may hate each other as soon as money gets involved or you could be starting an amazing new relationship. The magician duo Penn & Teller started off as a strictly business relationships and became friends overtime, and they say that they have a stronger business and personal relationship as a result. Anything can happen in any way. Just keep on your toes and use your best judgement.