Over familiarity is not good in business matters

[Kelward]

Anytime wey you want to do business with anybody make you make sure say una get a solid agreement before una start. To make di agreement to get legal backing una need to involve a lawyer wey go write a comprehensive partnership deed for una. Di aim na to make official every partner's contributions, positions and to know how to share profit.

Why I bring dis matter up be say I know two cousins wey be best friends before, as I de talk now dem families be serious enemies. One of di cousins get land for better site but e no get money to develop am. Di other cousin wey get money begin to de fund di building of di house wey don reach completion stage now. Unfortunately di cousin wey get di land come die and di wife and children come claim di house as di property of dem late father. Di cousin wey dem take im hard earned money to build di house no get any legal documents to show say na him money dem take de build di house. I hear say di matter don enter court case. Assuming say di cousins comot familiarity and get a legal document wey clearly state di contributions and di entitlements of each partner before money begin to enter problems no go de

Money matter na serious matter, e de cause problems for relationships so to avoid am e de better to have a solid agreement wey no go be ordinary verbal agreement if na business matter. So far na business matter di solid agreement supposed to be in writing with each partner's signatures, possibly make a lawyer write di agreement for dem. Incase of problems in the future di partnership deed go solve di matter.

[Dreadboost]

It's very important to leave family and friends out of business and if you are to have anything to do with them when it comes to business,  it's very important that it's documented, so everyone understands what they are getting from the business. I still wonder why people still make this mistake,  you don't mix friendship or family with business.  I think there is time for everything,  time for business and time for friendship and family.  When it comes to business,  it has to be business and don't mix it up, because you tend to lose when you mix this things together.

[Salahmu]

Anybody who disregard this business principles will see the bad side of it because when familiarity is put at first in business it means that you are trusting even the person you are not supposed to be trusting. Na why people they cry later say there closeness with people done spoil everything for them. In agreement is not that you cannot type or write your agreement yourself but when you do it doesn't have any recognition because they assume anybody can come up with agreement that's falsified even with the third party signature but is different when a lawyer is part of the process, some person go they think about money way lawyer go they call for them whether in worth am but the truth is that there is no process better than that.

[Cyber_warrior]

Why I bring dis matter up be say I know two cousins wey be best friends before, as I de talk now dem families be serious enemies.

If u get business, no Dey involve family and friends ooo, because if u try am, ur business fit run down ooo. If you Dey run business, if any of ur friend or family members wan patronize u, make sure say u collect money, nothing like family and friends when it’s comes to business, if u no wan collect money from ur family or ur friends, u don Dey prepare d downfall of ur business already, most especially if u are still trying to grow, if u never establish well. Even if u go reduce money for them, maybe u will reduce profits wey u suppose make into their head, but make sure say u collect money.

[ThankGodkk2]

Anytime wey you want to do business with anybody make you make sure say una get a solid agreement before una start. To make di agreement to get legal backing una need to involve a lawyer wey go write a comprehensive partnership deed for una. Di aim na to make official every partner's contributions, positions and to know how to share profit.

Why I bring dis matter up be say I know two cousins wey be best friends before, as I de talk now dem families be serious enemies. One of di cousins get land for better site but e no get money to develop am. Di other cousin wey get money begin to de fund di building of di house wey don reach completion stage now. Unfortunately di cousin wey get di land come die and di wife and children come claim di house as di property of dem late father. Di cousin wey dem take im hard earned money to build di house no get any legal documents to show say na him money dem take de build di house. I hear say di matter don enter court case. Assuming say di cousins comot familiarity and get a legal document wey clearly state di contributions and di entitlements of each partner before money begin to enter problems no go de

Money matter na serious matter, e de cause problems for relationships so to avoid am e de better to have a solid agreement wey no go be ordinary verbal agreement if na business matter. So far na business matter di solid agreement supposed to be in writing with each partner's signatures, possibly make a lawyer write di agreement for dem. Incase of problems in the future di partnership deed go solve di matter.

Over familiarity and business are two words that should even be found together, when we get too familiar with either family, friends, and even clients most times it doesn’t always turn out well.

Over familiarity with family and friends in business triggers them to always seek for free or almost free services from our business and when you decide to set your boundaries they see it as you being inconsiderate so it’s better this boundaries are set from the beginning because once you start off with offering free services it’s very likely impossible to take a turn later on.
When its time for business some level of seriousness should be maintained, those who truly want to patronize us will still go ahead.

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