Concers About Going in Business with a Friend

[mvdheuvel1983]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

[1715279520]

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[bittraffic]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.
Success stories are likely to be friends who have the kind of personality that is really trustworthy and the two give importance to the relationship.
 
They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

[KingsDen]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.
Success stories are likely to be friends who have the kind of personality that is really trustworthy and the two give importance to the relationship.
 
They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

You guys can be very good friends and surely you must have known the character of your friend and your friend must have also known yours. So, it's fine that friends go into business because they will synergize with the same spirit and friendship and make the business successful. But what happens is that ones it comes to business, there is nothing like friendship or family, everything should be documented and agreement made in a legal form. The document should capture the responsibilities and the sharing of profits. Every thing should be spelt out correctly before you start business with your friend, or even your brother. That understanding that relationship is different from business will keep the business going.
If you go into business with your friendly blindly, there must be some problems in the future, either from you or your friend or relatives.

[royalfestus]

Treat business as business irrespective of relationship. Choosing the right partners for your business is crucial. Prioritize careful selection by considering factors such as their financial stability, integrity, and alignment with your business goals. Conduct thorough due diligence on potential partners, including reviewing their financial history, creditworthiness, and business experience. It's essential to establish a legal and financial relationship, so opt for partners who are reliable and trustworthy. Avoid giving a single individual sole access to funds, particularly the bank account, to mitigate risks and ensure financial security.

[DeathAngel]

It’s difficult to mix business with pleasure aka business with friends & family. It can work but you have to lay ground rules.

Are you both going to invest the same amount of money at start up?
Who is going to make final decisions?
Can you both solve problems?
What happens if you disagree on something important?

It can work but you are going to need to separate business & friendship in the workplace. 

[Fortify]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Like many things in life, stress, greed or close proximity can bring out traits in people that you have never seen before. You better be damn sure that you know the person you're going into business with very well, even then it is liable to end up in disaster. There have been circumstances where it has worked for people in the past, it takes a very narrow set of the right ingredients, but what you don't hear about as much as the many failures and falling outs that have occurred. Disputes about money or whether people are contributing the same non-monetary inputs can put huge strains on relationships, so you'd probably be better off not going into business with people that you really want to remain close to.

[South Park]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I have always thought that starting a business with a friend is a bad idea, in theory everything should be about being as efficient as possible and increase your profits margin, but when friendship is on the way things are never that simple as now you have to care about how the other person may take your criticism regarding something they did wrong, considerations you will never have to take were that person be a stranger which you just hired to do a job for you.

[SOKO-DEKE]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

As you have said their many people that do join business with their friends and both due succeed  without betraying each other and are also many to that did and betrayed. we should know that all human beings cannot have perfect mind and with that they can't be all truthful.but all it requires is trust, once you are able to study your friend well and found he/she with truthful character and you believe it will be very hard for someone to convince he/she away from the truth line,why will I be afraid of doing business with such person?as for me i believe much about many friends I have because their character toward make me, make me believe much in them that they can't betrayed me on any way but they may surely be some among them that may have bad mind ooo but I never witness that habit from them any of them because I don't make much friends and even before we agree on any business there are will be agreements between both of us.some people say trust nobody, but we need to trust some one in order to make some our ways easier.

[Captain Corporate]

Don't, don't ever do it. I have done it multiple times in my life and its always a hard work. Its not even about the money part, and yeah money part could be a problem too I have heard stories but mine was not about money. Mine was about the fact that he was too hyped and too dreamy and that is why it failed. This happened about 10 years ago or so when I was a lot more younger and obviously a lot less experienced, but when we started it, it was a simple idea that couldn't really go anywhere, and yet he believed that we could start there and make it to the top, like literally dreaming to become a billionaire one day. Its great to feel like that and work hard, but he was lazy at the same time and focused too much into the future and not about today. Which meant that he lacked working today, and always dreamed about whats to come, which ended up resulting with us losing what we have, and not have a better future at all.

[ajiz138]

Sometimes when a business has been running for a long time from one of them there is always someone who cheats with his dirty deeds, (I'm not saying all of this) indeed because I have experienced when running a business with a friend that initially went well but after a few years he taking actions that are not transparent to the point of making higher profits compared to others, this makes us no longer trust and I decide to leave with the initial capital and some income that must be shared with several people, because I run a business with 3 people.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

If you find an honest friend then the business will be successful and growing, but if this is your concern then just don't do it again because they always have bad intentions in the future so this will still be your worry too.

I prefer to do my own business in the sense that those involved are family or relatives who can be fully trusted.

[Hyphen(-)]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

If it's a joint business with different signatories, I don't think only one person has the right to run with the entire company's money without the other person's signature, or is it a physical business where only one person is in charge of keeping the company's money?

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Every advantage has a disadvantage; some businesses succeeded through partnerships with friends and family, while others failed due to a lack of trust.

Trust is the most important issue that is causing problems in various businesses, which is why it is important to have a signed agreement with a lawyer to avoid trust issues in a business so that it ends well.

[Smartvirus]

I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.

To some extent, this sums it all but, its one sided. It only centers on the chances that your friend won't run away with company funds but, don't say much about managing or running a business.

Though, it is important that, one have a steady cash flow so as to be able to separate himself from the business. We know business is a separate entity of its own, it ought to take care of itself while, you can benefit from the profits it generates after settling all that need be in running the business, encroaching would lead to some gradual decline for sure.

But again, before going into a partnership business with anyone, it must be someone you've really known all about and your sure could separate himself from the business. That's just how your likely to have a successful business and you shouldn't leave all the managing to your partner. The business should operate a double signatory account and ensure you get mails on happenings within the business and finance.

[arimamib]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

If friends have been entrusted as a whole in building a business, then absolutely no worries will arise in our hearts, I mean if this decision is unanimous, of course we have thought carefully about what we will receive. There doesn't have to be a negative side in our minds towards colleagues, where we have to trust each other in order to create a form of harmony in building a business.

In this option, there are indeed many that we meet out there where the closest friends can destroy you and this is certainly based on several factors, most likely there is no equal distribution when the company gets profits, even when it loses, we blame him as an actor in the company's failure. That should not happen in building a business, everything must be in accordance with whatever results are recorded each year.

[dothebeats]

Have him write a contract. This is the only way to not get screwed IMO. Most of the time, these people who breaches agremeents are brave because they know they wouldn't be held accountable if they are to run with the money. They might face some jail time but the gravity of their actions aren't that severe because they didn't sign any formal agreement or any contract that would pin them even further.

Do not trust anyone fully. Learn to not give them everything and in one go. Let them earn your trust, and if that trust is not earned, don't commit 100% to whatever proposal they might give out.

[Hypnosis00]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

You should also know his lifestyle and how it changes when you are in business together because this will also affect how he manages his finances and it is possible that he/she touches the company's money once got compromised. Because it happens that many business partners got broke due to uncountable expenses that is why it is very important you are also transparent with each other. And I will tell you that it was hard to communicate with someone, your partner when he/she hides something. A reason why we should choose our business partners so well is not just to be a friend but kinda being like a family so you were open to each other and communicate properly.

[irhact]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

A friend who's going to be a bad business partner, the signs are always there from the beginning but we always ignore those bad character and think they'll change or give them a second chance since they're friends. You have to observe your friend to see if he's the greedy or impatient type because this aren't good business partners and they'll be difficult to handle in the future.

I prefer to do business with foreigners than close friends or family members. When strangers do business, they'll respect themselves and put attention to getting that business successful without been concerned about the profits as they would had discussed that before the business started, but friends or family members will always feel they're been cheated.

[odunybiz]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Partnering with a friend in business is something that look easy at the beginning of the business but may come with another story after the success of the business. For me I won't discourage this but both bodies should have a written document with a legal back up to give the financial running of the business. This will help in the future after the success of the business.

[AmoreJaz]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

A friend who's going to be a bad business partner, the signs are always there from the beginning but we always ignore those bad character and think they'll change or give them a second chance since they're friends. You have to observe your friend to see if he's the greedy or impatient type because this aren't good business partners and they'll be difficult to handle in the future.

I prefer to do business with foreigners than close friends or family members. When strangers do business, they'll respect themselves and put attention to getting that business successful without been concerned about the profits as they would had discussed that before the business started, but friends or family members will always feel they're been cheated.

that is correct! look for warning signals and possible reasons why he might do something foolish down the the road. as a friend, you already know some of his weaknesses and strengths. but if you failed to see it and you're already running your business. and that's when he showed up some red flags, confront it right away, don't wait too long or before it's too late. better be frank about what you are seeing rather than regret later on and you can't revive the business anymore. i can compare this with running a business with your family. sometimes you won't address the obvious problem because you're a family.

[goldkingcoiner]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I think that there are times when things do not go the way we want to. This leaves a bad impression on us and a deep scar, which is why the man from your story will find it very hard to trust anyone ever again. But that does not mean that going into business with a partner is a bad thing. It only matters to him because of his own bias against partnerships.

Obviously there is a difference between trust and blind trust. They are not the same thing. Nobody should trust blindly. But without trust, there is no cooperation and no point in any business, because anyone can screw you over. Not only your partner.

Statistically, most partners do not do this to each other. The guy was just very unlucky that it happened to him.

I would not take his story as fact on the matter.

[Unbunplease]

Business with a friend is complicated by the fact that one initially trusts the friend. But that friend may end up being false, jealous, or lacking the right business qualities. Or circumstances may arise when the friend, without wishing it, will be forced to betray (due to financial circumstances or under threats).

[Vaskiy]

Primary thing that needs to be in mind. Just invest and leave it. Try to be happy with what the friend give as profit share or regular basis or for specific time period. When both of you get into business activities it'll pay path for easy growth, but surely the problem arises and there are big chance of the business getting established on two locations providing the same services.

[virasog]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

It all depends upon how the friendship goes on as the business is being developed over time. The partnership can go on forever if both parties prefer friendship over money otherwise, we have seen that people will just forget about the friendship when money is involved in their matters.

Primary thing that needs to be in mind. Just invest and leave it. Try to be happy with what the friend give as profit share or regular basis or for specific time period. When both of you get into business activities it'll pay path for easy growth, but surely the problem arises and there are big chance of the business getting established on two locations providing the same services.

I wished it was as easy as you have explained but when you are doing business together and are the co-owner of the business, disputes may develop over decision-making and control. Many times, we have seen the two persons quitting the joint business and developing new business for themselves as sole owners.

[Alpha Marine]

I don't see anything wrong with doing business with friends or family. In fact, I believe it's friends we should go into business with more. Issues arise when you treat the business relationship as a friendship relationship. There should be a difference.
Take all the precautionary measures you'll take if you were doing that business with someone else when dealing with a friend. Involve contracts, lawyers and every other  paper work necessary.

Also, know the kind of friends you go into a particular business with. Because the person is a friend or relative doesn't mean you should go into business with him. Go into business with a friend because he/she is capable of handling the business and you can trust them to a certain level.

[blue Snow]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

in business, we should not believe anyone even if he is a best friend. I often hear about friends who betrayed us, Because only friends and those who know can invite to join the business. That one way they are easy to trick us and join to their business and scam. We must carefully and must be observant to look what their offers, don't consider him as a friend, you just think of someone else, so that way you will be save and easy to research their business first.

[xSkylarx]

Trust kills for sure that friend of yours saw an opportunity to get it . It is really better not to easily trust even it is your friend because when it comes to money people change on it. It is really best to have anothe plan incase this will happen like you can prevent it and also you sre hands on to the business because there are transactions that you dont know which lead to losses or worse he will run the money

[peter0425]

If you are referring about Crypto Business partnership ? it is more different and safer than those real businesses.
because you can both Hold half or 2 way about the funding , and so none can run with the funds, if you are planning to do so, still needs to find a more trusted and you can rely,
if ever they broke the system at least there is something that you can hold and prevent from extending the damage.

[michellee]

Before doing business with friends, we must know the character of that friend, whether he can be trusted or will lie to us. We don't want him to betray us by leaving our business and not returning.

It's about trust between friends and us so we really have to get suitable friends to do business with. It is not easy to find a friend who can be trusted and because of that, we must be careful.

And after we get the right friends, we have to focus on business and not mix personal problems with the business.

[btc_love]

I mean, it's not exactly surprising that going into business with someone carries risk. That's kind of just common sense. Do you have any specific advice or insights to share, or are you just here to tell us that bad things can happen?

[Iadegbola34]

The story you shared is indeed a sad one, and it's understandable why the man would be wary of going into business with anyone again. It's unfortunate when trust is broken, especially in a business partnership that involves shared goals and finances.

However, it's important to remember that not all business partnerships end in betrayal or failure. Many successful businesses have been started by friends who share a vision and work well together.

When going into business with a friend, it's important to have open and honest communication from the beginning. Discuss your expectations, goals, and responsibilities, and make sure everyone is on the same page. It's also important to have a solid agreement in place that outlines the details of the partnership, such as ownership shares, profit distribution, and dispute resolution.

One of the biggest concerns when going into business with a friend is the potential strain on the relationship. It's important to maintain a professional attitude and keep business and personal matters separate. Regular check-ins and clear communication can help avoid misunderstandings and ensure that everyone is happy with the partnership.

In summary, while there are risks involved in any business partnership, it's possible to work through them with open communication and a solid agreement in place. It's important to weigh the potential benefits and risks and make a decision that feels right for you

[Lucius]

I would never mix friendship with business, because not only do you risk losing money, but also maybe a good friend. Money is something that can corrupt people and make them behave completely irrationally, and probably each of us has noticed this at least once in our lives.

However, what is perhaps most important is that you protect yourself in every business and do not let someone trick you and destroy everything you have created over the years. However, if this happens in spite of everything, it will be much easier for you if it was done by a business partner who is also not your friend. Money is always around us, and how many good friends do you have in your life?

[Solosanz]

Starting a business with someone regardless it's your friends, brothers, siblings, wife, parents etc are really need an agreement contract!

It don't matter how small or big your business, you still need that in order to prevent like this one. There had been many cases where relationship ruined because of money, so you need to treat everyone in professional.

If you're really want to hide this problem and don't want to ruin your relationship, you should never start a business with someone which have a close relationship with you.

[livingfree]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

It is why an important factor before going into partnerships and business is to find a trustworthy partner. And finding it is like finding gem in the forest.

But when you've found the right one, you'll never regret it because it's mostly going to come from the crowd that you don't know and they're just random strangers that you'll meet somewhere.

It's sad to see that people have discouraging his children not to go business because of what happened to him, cannot blame him with that because it's hard breaking.

[Farma]

So far, I have collaborated with many other people, and some of these collaborations have ended badly, and some are still ongoing. However, in the end these people are not using the money as well as possible for business, but also for their needs. Of course the biggest fear when working with someone is when that person is not trusted. it destroys trust, friendships, and other good things that have been built up over the years. well, so, if I do cooperation with other people, then I might limit the funds that I will give. no one knows what will happen in the future.

[Reid]

First, he must be a longtime friend. Someone I know deep to the extent that I also know friends of his friends and far relatives. Yeah, it sounded like a bestfriend but to men, there's no such thing, those are just for women. I may not even care if he doesn't have an idea of the start-up business, as long as trust was already built it will not be hard for both parties to make it happen.
It's entirely different when you know a person from his roots, he will never find wrong in your relation and would be hard for him to backstab you because you know his family especially if you are in good terms with them.

[dunfida]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I have never considered on building one neither on a friend or someone who do have the funds.I dont really like on raising up some business on corporation but rather i would really be making it as a sole proprietor because
i dont really like up the hassle when dealing up with having a corporation because you wont know whether those friend or business partner of yours would really be betraying you in the end would would be ending up miserable. This is why its better to go solo, yes it does have that disadvantage since you would really be raising up your business on your own and with your own capital but we know that its does have its pros too
which is in correlation to this.

When it comes to money then it would be no shocking nor surprising when it comes to money talks where trust and relationships could really be broken up.Well, money could be still be earned while trust isnt something that you could make it back or goes back once you had tainted it and this is why never ever destroy someones trust just because of money.Well, there are people who are really that prepared on ruining
everything just for the sake of making money.

[Latviand]

So far, I have collaborated with many other people, and some of these collaborations have ended badly, and some are still ongoing. However, in the end these people are not using the money as well as possible for business, but also for their needs. Of course the biggest fear when working with someone is when that person is not trusted. it destroys trust, friendships, and other good things that have been built up over the years. well, so, if I do cooperation with other people, then I might limit the funds that I will give. no one knows what will happen in the future.

Look for signs, test them in the most subtle ways, you will eventually know who is that person because you're seeing the signs. It definitely is difficult to find someone you can trust but never ever stop being a good person, they broke your trust but that doesn't mean that you won't trust someone ever again.

[DevilSlayer]

The most thing for me if you will build business with your friend is the "attitude" and his "mindset". If your friend have a good attitude and mindset then he will never betray you, you can trust him with all of your heart that you will stat on the lane with him achieving your goal. The next thing that you should consider is if he has skill that can help your business to grow. Find someon who has a complete package that is good with communication skills, technical skill, managing people, have good attitude, have discipline, being aware to delaying gratification and lastly the hunger to become successful.

It is hard to find someone who have these kind of characteristic so you must treasure your partner once you find him. Picking is really hard because most of the partnership are failing due to broken harmony because their mindset and habits are not compatible to each other. Find someone that will help you grow, find someone that can make you a better person and lastly a someone who have same vision and same goals with you.

[demonica]

The thing is, even if it's your friend, you can't 100% trust them in finances. Since it's a big money you'll be going to invest for a certain business, you have to choose the friend whom you can really trust. Cause even if you know someone for a long time, people can be blinded when it comes to money.

For me, I've started a small business with my friends but I didn't really gave them access to the money since I'm the one who invested capital for it. You can update them about the funds but limit their access... What I can say about the story op mentioned, each partners should be monitoring the funds running in their business so you'd know how is it going and if there are any suspicious transactions happening. Simply just being transparent with the funds. I guess the people who experienced things like this is they fully trusted their friends, allowing them to have access to the money without consulting or without the other partner's permission.

[Hispo]

Having a friend as a business partner is still better than having a family member as a partner, like a brother or an uncle. Businesses are not supposed to be mixed with friends matters and family matters if can be avoided, it only brings drama and excess of in fighting if the relationships are not good.

In the case of a friend, I think it would depend on the person, I would never fully trust him, though. I would make sure he does not have complete access to the money so he cannot run away with it. But rather He would have parcial access to the funds. That is a good application for wallets with multisignature, I am sure there must be also some FIAT equivalent of it.

If possible, go into business alone, even if you think it is harder, you could have a bit of freedom on choices and more responsibility.

[Fesatmas]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Things like that are things that often happen in large financial management matters that are meant to work together as business partners. Of course, in this case we have to be good at assessing a person's character before being made a business partner, it will help avoid fraudulent activities like that. I myself have had bad experiences with this. The incident is almost the same, namely taking the company's money away, causing bankruptcy in the business we run, it made a big hit in my business journey, from there I learned to understand how to understand a business partner and everything about him, both from his family lineage, character and mindset, it made my cooperation after the previous incident better.
As for the things that trigger conflicts to occur, you must have a mature and wise mindset, especially the problem of money because it is very sensitive.

[bangjoe]

Having a friend as a business partner is still better than having a family member as a partner, like a brother or an uncle. Businesses are not supposed to be mixed with friends matters and family matters if can be avoided, it only brings drama and excess of in fighting if the relationships are not good.

In the case of a friend, I think it would depend on the person, I would never fully trust him, though. I would make sure he does not have complete access to the money so he cannot run away with it. But rather He would have parcial access to the funds. That is a good application for wallets with multisignature, I am sure there must be also some FIAT equivalent of it.

If possible, go into business alone, even if you think it is harder, you could have a bit of freedom on choices and more responsibility.

Yes, having a family business partner will have a more negative impact on business, especially if the person does not have a professional attitude at work and always mixes family relationships with business.
This means that the business partners are at the lower level of the ranking compared to us, but what if starting a business is done together and at the beginning of the story they have a commitment to mutual openness and have their own key in every access to business management and money management, we may not be able to avoid that. if he really is playing foul.
That should be the case if you are able to stand alone and manage your own business, of course that is the best choice.

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Things like that are things that often happen in large financial management matters that are meant to work together as business partners. Of course, in this case we have to be good at assessing a person's character before being made a business partner, it will help avoid fraudulent activities like that. I myself have had bad experiences with this. The incident is almost the same, namely taking the company's money away, causing bankruptcy in the business we run, it made a big hit in my business journey, from there I learned to understand how to understand a business partner and everything about him, both from his family lineage, character and mindset, it made my cooperation after the previous incident better.
As for the things that trigger conflicts to occur, you must have a mature and wise mindset, especially the problem of money because it is very sensitive.

Yes, I agree that ensuring our cooperation partners from the start is something that needs to be done so that we can have guarantees from their backgrounds and identities, even if we play dirty, we can still discuss it with their families.
or another option we make certain commitments in terms of fraud and provide sanctions to those who violate it, that may be a good option as well to prevent it.

[slapper]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I think that there are times when things do not go the way we want to. This leaves a bad impression on us and a deep scar, which is why the man from your story will find it very hard to trust anyone ever again. But that does not mean that going into business with a partner is a bad thing. It only matters to him because of his own bias against partnerships.

Obviously there is a difference between trust and blind trust. They are not the same thing. Nobody should trust blindly. But without trust, there is no cooperation and no point in any business, because anyone can screw you over. Not only your partner.

Statistically, most partners do not do this to each other. The guy was just very unlucky that it happened to him.

I would not take his story as fact on the matter.

One bad apple? Shouldn't spoil the bunch, folks. But let's be real – it leaves a mark. Trust? Fragile, like a priceless antique. Once shattered, tough to mend.

On the flip side, partnerships? A gold mine, when they click. Find that kindred spirit, with your values, vision, and goal-hungry mindset. Like a match made in heaven.

Do the legwork, folks. Scope out potential partners, don't dive in blind. It's not reckless trust, but a savvy choice. Shared values, mutual dreams, and synergy – that's the secret sauce.

[Cantsay]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I won't say I have been in a business with a friend but we did collaborate with each other to complete a certain task(I can't tell the date), and during that time I got to realize that no matter how close you may be with someone when it comes to business or anything that has to do with your finances or businesses it's best you let go of your emotions as they can hinder the way you think; for example if collaborate/partner with a stranger, the way you'll do your things will be very different from the way you'll behave with your friend. With that stranger, you'll want to work professionally so that you could capture his attention but it won't be the same with your friend.

As per the finance part with my friend,  I am someone who tends to have trust issues when it comes to me and someone handling money perhaps it was due to a past incident I had that almost destroyed my life. But currently, I don't think I have any friends that are going to run away with my money due to their current financial status but that doesn't mean I won't keep my guard up since you never can tell what's running through the mind of an individual.

[CryptoHeadlineNews]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Nobody can know our friends more than us, because despite the fact that they always say money changes people, we all at least know those our friends who are responsible, reckless, hardworking and productive at work, which are very important criteria to consider before bringing up a damn for business partnership. Because I know how painful it could be to be hurt by someone you least expected it from, and on that note, I will like to advise that whoever wishes to do a business partnership with anybody, such person must be someone you know to the core (i.e the person's house address, siblings & parents), so that if by mistake he runs away, you could track him through his parents.

[siniminomorocomunisakito]

Yes, friends can be a great opportunity to share visions and build something special together. However, it can also be risky, as personal relationships can complicate matters and another concern is the potential for damage to personal relationships if business does not go according to plan. It's important to be realistic about potential risks and have a plan for dealing with any setbacks.

And one more assumption I have is that one of the biggest worries when starting a business with friends is the potential for disagreement and conflict. Well, the solution as you describe is to establish clear communication and expectations from the start, and be willing to compromise and work out any issues that arise and have a solid partnership agreement outlining everyone's roles, responsibilities and financial arrangements for example notarized so no disputes in the future.

[naira]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

It doesn't matter how long the two of them have worked together even though it has been 5 or 10 years, but if you are a big advantage that has the opportunity to take it, then it doesn't rule out malicious intent. Moreover, driven by a need. In business there is no such thing as friends because business is still business, it has a structure and management that is planned and must be done legally on paper and to anticipate something like this happening so that legal action can be taken with strong evidence.

This is where the role of the business system works, the consequences of the rules need to be implemented properly. Don't just because he's a close friend doesn't mean rules can be set aside. Remember it's about business, and if you're one, you already know what needs to be done.

[AnonBitCoiner]

Businesses are very beneficial and they provide good sum of money but if they are are true to participate in. I think that one should start a business with his own money because in partnership sometimes there happens a clashes due to different thoughts and now a days trust on anyone is not easy may be it's a friend or relative.

So it is important to just keep going on with your own money so you will have own control on your money and you will be free to take any decision instead of blaming others when the situation becomes hard.

[erep]

This is where the role of the business system works, the consequences of the rules need to be implemented properly. Don't just because he's a close friend doesn't mean rules can be set aside. Remember it's about business, and if you're one, you already know what needs to be done.

Strongly agree, the business system has no family relationships, friends and other relatives, if you mismanage your business due to the influence of some of the factors above it will have a bad impact on your business, every business must have regulations for all employees/staff without exception, anyone who violates will be subject to a reprimand and dismissal so that disciplined employees against regulations have been established, we must focus on the work of business planning so there are no other influences that can potentially damage business success.

[Frankolala]

When it comes to selecting a business partner,you should be very careful with the friend that you want to go into business with. Some are cheats and dubious but you wouldn't know this because they have bought your trust over with their good behavior and care towards you. Money can destroy a good relationship forever because of greed.

Don't do business with a friend that loves money and is hard heartened, someone who is desperate to make money and greedy,no matter how much he has,he will never be satisfied. First figure out your friend who he is by asking from his closed ones if he is greedy or not and how he behaves towards money, especially the money that is not his but was entrusted to him.

I have fallen a victim for my friend in the university, we were close and we do everything together. We had this business together that he will always give me some percentage from the profits but he ran away to somewhere far that I couldn't reach him and ate all the money alone. Nemeses will always caught up with the wicked because I am doing better than him presently. It was after he ran away that I started gathering some information about him and his characters, that was when I learnt that he is a greedy and not worthy to be trusted with money from his siblings.

[doomloop]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

A friend can be a trusted business partner, but a business partner cannot be a trusted friend. So one needs to know the difference, and it's not really difficult to know if a person is trustworthy or not, unless they are too with of an actor that they would never let you guess that they have vicious thoughts in their mind regarding the business.

If I have a friend and we discuss starting a business together, we would probably know each other well and understand that none of us will deceive the other if we become business partners, and that is the most important thing, to evaluate and understand the person before you get into business with them.

[Litzki1990]

Trust is a very precious commodity. And the dignity of this faith cannot be done by everyone. Many people disrespect faith for the greed of little wealth. We have many friends around us who just take advantage of our opportunities. And when they are benefited by us, they don't want us to remember that benefit.

But there is one such incident in my life but I don't know if it is business oriented or not. I needed to borrow some money from a friend of mine. When I borrow money from him, he lends me some money in local currency of our country.  Suddenly the value of the dollar in our country increased and when I asked him to pay his debt he refused to accept money in our country's local currency. As the dollar appreciates, he demands his loan from me in the context of the current dollar value, taking into account the dollar value of the time he gave the loan to me. And he stood by me in times of danger and he was my friend, thinking that money should not cause distance between us, so I paid him as he demanded.  Whereas in the current context I have to pay him much more.

[el kaka22]

The sad part is that everyone talks about how it could make money and it may not be equal but the reality is that if you go into business with a friend and they are not great people then you will end up with losing more money than you earn. I have seen too many people that got together, one side worked hard while the other side just took money out and they bankrupted after the hard working one didn't want to keep it going.

Why would you work harder than your partner when you know in reality that you could stop and they would lose too, either work as hard as me or we are going to bankrupt is a good weapon to have. So all in all the likely result of this is not fight with a friend but more like a bankrupting the business type of thing because it can't go on for too long if one side doesn't carry their own weight in the business.

[Raflesia]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

I think closing yourself off is actually a little bit difficult to do.
Saying things like that to your children could have an impact on their future regarding doing business because this is just like self-limitation not to trust anyone, which in fact can be a little misleading because healthy business people actually need other people to serve as a good partnership. intended to advance the business being carried out.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There are many ways that can be done in conditions like this.
Choosing a healthy environment and different business treatment between personal and business needs must be realized so that things like this can be minimized.

Indeed, in this case vigilance is the most important thing, but when we cannot trust people from the start, then how do we establish a cooperative relationship in it because indeed when doing something like that, of course there must be an element of trust from both parties
Conversely, failure is not a good reason to close yourself off like that. Indeed, we can still do business independently, but it would be great if there were other people who became partners so that it would not overwhelm us in that regard, it's just that our selection must be more selective.

[Zlantann]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

In business, everything should be formal. You don't start a partnership with your friend or relative without a legal agreement. You should consult a lawyer that will draft all the legal document that establishes the partnership. If you start and run a business based on trust or an informal relationship, you might regret your actions. Money should be kept in the bank in a joint account. And one individual shouldn't be the sole signatory. Withdrawals or payments should go through a financial process that upholds transparency and the safety of funds.

I once partnered with a friend in business and we treated each other like partners in the office. But after work hours we become friends To uphold financial prudence and accountability personal funds or expenses were separated from the business. The business also had rules that guided all our actions or activities. We also ensured that we didn't employ family members to avoid informal relationships in the business. We just treated everything about the business formally.

[Stable090]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Running business with a friend is really risky, you don’t have to trust anyone when it comes to money, your friend can turn to your enemy and your family can turn against you. You might be friends for long and you guys will be cool, but immediately money is involved then his behavior might start changing, then you will get to know the kind of person he is. If anyone is going to run a business, then I will recommend you run it alone, even if you are going to start small, then with time you can be growing it gradually.

[Synchronice]

In business, everything should be formal. You don't start a partnership with your friend or relative without a legal agreement. You should consult a lawyer that will draft all the legal document that establishes the partnership.

Actually, a lot of business, even the recent and very famous ones have started by partnership between friends and there is nothing wrong with it, not everything needs paper immediately. If you have friends you can trust and they have skills and are capable to do their roles, then you don't need paper and lawyers immediately but once company starts growing and more and more doors open, this process will become inevitable.

I once partnered with a friend in business and we treated each other like partners in the office. But after work hours we become friends To uphold financial prudence and accountability personal funds or expenses were separated from the business. The business also had rules that guided all our actions or activities. We also ensured that we didn't employ family members to avoid informal relationships in the business. We just treated everything about the business formally.

I agree with you on that part. Business and business and all the matters is that everyone does the job and it's not a place where one should bring unskilled friends and family members. But I think, you should always start a business with a friend who already has enough knowledge that it won't be necessary to make it clear.

[Smartprofit]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I have seen many situations where a business founded by close friends failed.  When people start doing business, they need a foothold and strong support. 

Very often, people look for support in friendship, because it’s not so scary to engage in a fundamentally new type of activity when a friend you know from childhood is next to you.  However, over time, business develops and new problems arise.  A person begins to doubt ...

It begins to seem to him that his founding friend contributes less to the common cause than he does.  Sometimes the conflict is started by the spouses of friends.  In any case, everything ends sadly.  Former friends have been arguing with each other for a whole month, insulting each other ....

As a result, their common successful business ceases to exist.

[Fatunad]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I have seen many situations where a business founded by close friends failed.  When people start doing business, they need a foothold and strong support.  

Very often, people look for support in friendship, because it’s not so scary to engage in a fundamentally new type of activity when a friend you know from childhood is next to you.  However, over time, business develops and new problems arise.  A person begins to doubt ...

It begins to seem to him that his founding friend contributes less to the common cause than he does.  Sometimes the conflict is started by the spouses of friends.  In any case, everything ends sadly.  Former friends have been arguing with each other for a whole month, insulting each other ....

As a result, their common successful business ceases to exist.

Neither of these things neither failed, have huge issues in between owners, having some financial issues, trust issues and other possible issues that had been mold up which is something that not shocking anymore.
This is why its better to be a sole proprietor rather than on making up some corporation on someone unless if you do trust that friend and you do know that you would be coming into that point but somehow its impossible to know on what would be happening ahead specially when your business do suffer some issues which might mold up some questionings and debates which would lead up to more even severe problems.

This is what i dont like when having that a partner when it comes to business. It would really be giving out that peace when you are just running it alone. You could solo all the problems and you could solo
all the profits that it would be making.Yes, it might sound that selfish but if you do have the money for you to build one and run on your own, then why not?

Running business with a friend is really risky, you don’t have to trust anyone when it comes to money, your friend can turn to your enemy and your family can turn against you. You might be friends for long and you guys will be cool, but immediately money is involved then his behavior might start changing, then you will get to know the kind of person he is. If anyone is going to run a business, then I will recommend you run it alone, even if you are going to start small, then with time you can be growing it gradually.

When it comes to money then everyone is really that subjected to change, we know that human beings could be easily be changing up their mood and treatment on the time which money is the issue.
So its better to go solo to get rid of these possible problems. Having a friend isnt bad but it would really be just having those boundaries on where there are things which arent
meant to be influenced or much needed to have a corporation or partner.

[Woodie]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

Business with "family and friends" is never easy because these people know you better and can take advantage of you because they know you can not bring your wrath on them or take the most excessive punishment to retrieve your resources.

But I want to believe most people usually make the mistake when not separating the business from personal dealings which is the breeding ground of all these problems... if they all acted as separate entities, the running of the business would be smoother and relationships would have been better.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

agree, and unfortunately the majority of failed business relations overshadow these by far!

If we spoke of these in numbers terms this could actually be less than 10% no doubt, its just that bad.

[Mr.suevie]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.
Success stories are likely to be friends who have the kind of personality that is really trustworthy and the two give importance to the relationship.
 
They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

Well I suppose you are right but human being are some set funny creature as they and their characters can change in a split second and that your reliable friend you know can just turn to a chameleon you don't know. Well I have heard of many success stories of two friends partnering together in a business but if you ask I prefer going solo as I don't believe and trust any human to that extent well as far as I know the only time I ever tried it , it back fired me and I lost a lot of great fortune and I wouldn't try again and just like the story shared I have lost trust in any partnership business

[GigaBit]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I think it happens almost all around us who plan a business and at some point it falls apart again. What I think is most important here is choosing friends in business. Although the behavior of friends may not be understood at first, you should determine in business those friends who are your most trusted. No relationship or business can survive if friends cannot trust each other. Moreover, there are certain rules of partnership business which are very important to pay attention. If the terms are well regulated there will be a solid foundation legally. Despite the various negative incidents, many people today have achieved great success in partnership business.

[smile1218]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There are a lot of same story happened to a lot of businessmen. If a person is too greedy for sure he will never succeed in what ever kind of business he is going to put up, that is called karma. But not all business partners are the same. I think before you venture into business make sure that you have secured a written contract between both parties so that your partnership would be safe no matter what happens. If ever your business partner is planning to scam you, you can file a case on court and your contract would be a great evidence to sue your business partner.

[bakasabo]

The only ways of having a business with a friend is have him as a consultant, use his experience or have him on a lower position than you. If you both have equal right to manage company, then one day you will destroy it due to an argument or money. Business is about money. Money will always be a barrier for friendship, so I dont believe in successful business with a friend. If a person has a successful business with a friend or see one of such, then it is a matter of time when it will collapse. Business is such a complicated thing, that a person must either dedicate all of himself to it, or choose between family, friends, business.

[Similificator]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

It really depends entirely on the people involved.

And if you are wondering whether you should do it or not, then I suggest that you think about it more carefully. Usually, personal relationships and business do not mix well which would make anyone think that it'd be better to never do businesses or investments with friends or family since this would save not only your capital funds but also your relationship with them. In some sense, this kind of thinking does make sense, but this does not apply to all scenarios/situations. For instance, if a friend or family has the qualities, skills, temperament etc., that aligns with your standards and trust that it would benefit the business or investment you are planning to make, then collaborating with those people would be the best decision. Again, it really depends entirely upon the people involved, that's just how it is.

[hyudien]

The only ways of having a business with a friend is have him as a consultant, use his experience or have him on a lower position than you. If you both have equal right to manage company, then one day you will destroy it due to an argument or money. Business is about money. Money will always be a barrier for friendship, so I dont believe in successful business with a friend. If a person has a successful business with a friend or see one of such, then it is a matter of time when it will collapse. Business is such a complicated thing, that a person must either dedicate all of himself to it, or choose between family, friends, business.

Putting together 2 different thoughts will be very difficult, especially if it has something to do with money. Believe me, everyone will show their true nature when faced with money. I often hear things like this, and you are right that money is a factor in breaking up friendships.
Putting our friend's position lower than ours will not be a solution in my opinion, especially if we are close friends. I know that in terms of doing business we shouldn't mix friendship and business, but still, that can only be done by some people, in the sense that not everyone can do that. To be honest, I would avoid things like this, unless we have the same thoughts, even this still has a risk because between us it is possible that we will change in terms of thoughts.

[naira]

This is where the role of the business system works, the consequences of the rules need to be implemented properly. Don't just because he's a close friend doesn't mean rules can be set aside. Remember it's about business, and if you're one, you already know what needs to be done.

Strongly agree, the business system has no family relationships, friends and other relatives, if you mismanage your business due to the influence of some of the factors above it will have a bad impact on your business, every business must have regulations for all employees/staff without exception, anyone who violates will be subject to a reprimand and dismissal so that disciplined employees against regulations have been established, we must focus on the work of business planning so there are no other influences that can potentially damage business success.

This is the point. Business with family can still be done, but back to the basic point about business is business even though there are family ties there which is possible in partners but we have to keep the partitions as much as possible so that things don't mix.
Don't just because you have a special bond, things like that are not treated properly, because things like that can damage the business and lead to nepotism which can actually be damaging.
But sometimes many don't really think about things like this to go any further so believe it or not things like this still happen.

[nimogsm]

I know that there are exceptions to the rules and friends can do business together, but most often it will not end well. I had the experience of a joint business and in the end everything collapsed, but we continue to be friends and at the same time we do not start business relations. You should always be prepared to take risks, both losing a business and losing a friend. My advice is to try to avoid such ideas where there is money, friendship cannot be.

[cydrix]

Never, ever, ever do it. I've done it several times during my life, and each time was difficult. Even while I have heard stories where the financial aspect has been a difficulty, mine was unrelated to money. Mine was about how he was overexcited and too daydreamy, which is why it failed. When we started it, it was a simple idea that couldn't really go anywhere, but he believed that we could start there and make it to the top, like literally dreaming to become a billionaire one day. This happened about ten years ago or so, when I was a lot more younger and obviously a lot less experienced.

[alastantiger]

I have not gone into any business with a friend before but i have seen successful and unsuccessful business partners. Before you go into business with a friend, first you have to understand their character about money, money is one thing that saperates friends even brothers. There is no 100% trust when it comes to moneySo in this regard, there should be a written agreement between the two parties and it should be law binding. People can easily change eapecially when money is involved.

[ivankoh]

They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

I once witnessed 2 business friends, opening businesses selling items and products that they prepared very carefully.  In the company they cooperate happily in the period after 1 year of establishment, outside of work they are very close friends since students.  After having certain results and profits.  Suddenly, conflicts arose because of profit, which I know is that the contribution, responsibility and benefits are divided unevenly.  I'm younger than them and hope they mend but nothing serious, they hate each other and never go to any parties where the other is present.  The power of money is scary, I have realized that I will never do business with any friends.  that will make it easier to keep good relationships out of interests.

[YinShuiSiYuan]

They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

I once witnessed 2 business friends, opening businesses selling items and products that they prepared very carefully.  In the company they cooperate happily in the period after 1 year of establishment, outside of work they are very close friends since students.  After having certain results and profits.  Suddenly, conflicts arose because of profit, which I know is that the contribution, responsibility and benefits are divided unevenly.  I'm younger than them and hope they mend but nothing serious, they hate each other and never go to any parties where the other is present.  The power of money is scary, I have realized that I will never do business with any friends.  that will make it easier to keep good relationships out of interests.

Two friends can never be good business partners because running business requires many highs and loss. You have to go through many things and have to be technical and practical about many aspects sometimes that can be strict and hard .
So friends have to be polite with each other and have to work in regard many times which is not good for a business.

[Wildwest]

this all depends on each of us personally in choosing friends to do business, because not all close friends we can fully trust, so we must first look at how his income is in everyday life if it is stable and there are no problems in finance then for Doing business together is a very interesting thing because we can give each other interesting ideas for running a business that we want to develop, so not all of our friends can be trusted let alone to run a business together.

[marcous]

this all depends on each of us personally in choosing friends to do business, because not all close friends we can fully trust, so we must first look at how his income is in everyday life if it is stable and there are no problems in finance then for Doing business together is a very interesting thing because we can give each other interesting ideas for running a business that we want to develop, so not all of our friends can be trusted let alone to run a business together.

The income/economic factor cannot be a consideration that we can trust it to be honest in business, there are no factors whatsoever that convince us to trust someone completely, believe that business is still business and don't give trust that can damage your business, the financial part must be monitored closely financial details and reports must be reported every month to avoid misuse of company finances.

[Z390]

I used to have a business that was managed by me, I never built it with any friend's money but I have a friend that needed help and he already knows about the business so I let him in, things are very bad in my country and I can't keep looking at him in a very bad condition, but I have to tell you, this was my biggest regret ever.

One day this same friend sent me a message that he was sorry he had to go back to school with my own money, when I tried to find him I was unable to reach him, so I just forgot him and learned from my lesson.

Despite my advice to get him arrested, I couldn't because I don't even have the money to perform this operation. Years later, I heard he had failed badly in school to the point that he couldn't graduate.

Unless you come together for business or money, you won't know if you're dealing with a reliable friend. If it's money, people always reveal who they are in a hurry.

[Oilacris]

They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

I once witnessed 2 business friends, opening businesses selling items and products that they prepared very carefully.  In the company they cooperate happily in the period after 1 year of establishment, outside of work they are very close friends since students.  After having certain results and profits.  Suddenly, conflicts arose because of profit, which I know is that the contribution, responsibility and benefits are divided unevenly.  I'm younger than them and hope they mend but nothing serious, they hate each other and never go to any parties where the other is present.  The power of money is scary, I have realized that I will never do business with any friends.  that will make it easier to keep good relationships out of interests.

Two friends can never be good business partners because running business requires many highs and loss. You have to go through many things and have to be technical and practical about many aspects sometimes that can be strict and hard .
So friends have to be polite with each other and have to work in regard many times which is not good for a business.

We cant really make out conclusions because we dont know on how both or 2 people would be handling out those probabilities or real deal when it comes to business aspect. This is mostly
be an issue when it comes to personality because if you and your friend are both that emotionally impulsive when it comes to things then being that compatible is really that almost impossible to be done.
Its impossible that you both wont really be that aware about the risk involved on a business, if you both are really having that trust issues then its better not to proceed out on something like this.
Better to run and build your own business without needing on having that hesitation or suspicions if the other side did really make out something.

When it comes to me then i wont really be closing up that probability on running a business with a friend but most likely i would prefer on doing solo.I could handle up myself
on running one without having any partners or somewhat into this condition.

[Husires]

Business is related to contracts being clear and the agreement far from personal matters. Otherwise, such actions may destroy your life and trust in others, in addition to the great material losses.

I do not advise the young man at the beginning of his life to start a business partnership with a female friend because the possibility of the failure of the project is great, especially if they do not have experience, and therefore it is better to start your project on your own and after gaining sufficient experience to search for friends or relatives and start a joint business project.

[Plaguedeath]

The only ways of having a business with a friend is have him as a consultant, use his experience or have him on a lower position than you. If you both have equal right to manage company, then one day you will destroy it due to an argument or money. Business is about money. Money will always be a barrier for friendship, so I dont believe in successful business with a friend. If a person has a successful business with a friend or see one of such, then it is a matter of time when it will collapse. Business is such a complicated thing, that a person must either dedicate all of himself to it, or choose between family, friends, business.

If you want to have a business where your friend is become as a consultant or use his experience, it's not having business with a friend, but it's your own business. Do you think your friend will only accept one time payment as a consultant when your business become big? your friend will demand more and they will threat you if your business can become big because of him.

If you hire him on a lower position than you, he will ask for promotion or demand higher salary with an excuse he's your best friend and he have help you when you both were in school.

[bakasabo]

The only ways of having a business with a friend is have him as a consultant, use his experience or have him on a lower position than you. If you both have equal right to manage company, then one day you will destroy it due to an argument or money. Business is about money. Money will always be a barrier for friendship, so I dont believe in successful business with a friend. If a person has a successful business with a friend or see one of such, then it is a matter of time when it will collapse. Business is such a complicated thing, that a person must either dedicate all of himself to it, or choose between family, friends, business.

Putting together 2 different thoughts will be very difficult, especially if it has something to do with money. Believe me, everyone will show their true nature when faced with money. I often hear things like this, and you are right that money is a factor in breaking up friendships.
Putting our friend's position lower than ours will not be a solution in my opinion, especially if we are close friends. I know that in terms of doing business we shouldn't mix friendship and business, but still, that can only be done by some people, in the sense that not everyone can do that. To be honest, I would avoid things like this, unless we have the same thoughts, even this still has a risk because between us it is possible that we will change in terms of thoughts.

I would avoid everything that has a money context to do with friends. Even something simple can spoil friendship, and it is impossible to balance in such situations. My experience - every time I borrow someone money, they try to avoid contacting me in future. I have bought a garage with my friend to use it like a warehouse - he keep his car there leaving almost no free space there. I cant even access my summer tires. I had to wait when he get free time to move his car.

People keep abusing each other to get best for themselves. The only way to be "in business" with a friend is to help him. Like help him to move stuff and unload them. Sort of a part-time help.

[Raceonsucced]

Betrayal is common. If I do business with someone. What I'm worried about is what you said. Friends take the company's money and never come back. As usual, sometimes it all starts with greed. And ended up being a betrayal. When building a company together, we must really trust each other. And we must know the true nature of our business partners.

[lovesmayfamilis]

There is a saying in Russia:  "Friendship, friendship, but money apart".  And also the fact that if you lend money to a friend, you already receive a debt from the enemy.
In summary, it can be said that all business relationships should not be related to friendship. If there are two friends who jointly open one business, there can always be a crisis in the relationship, and someone will betray them. Therefore, trusting but always verifying is the right attitude.

[CageMabok]

Betrayal is common. If I do business with someone. What I'm worried about is what you said. Friends take the company's money and never come back. As usual, sometimes it all starts with greed. And ended up being a betrayal. When building a company together, we must really trust each other. And we must know the true nature of our business partners.

And sometimes it is also very difficult to know the true nature of our business partners, because the business partners we trust can also hide their true nature in front of us in order to achieve goals that have never been told directly to us. So betrayal always begins with mutual trust so that there is no suspicion at all before it happens to an ongoing business.

I prefer to run my own business without having to involve more people in it. And even if I have to use several people who I will pay as employees in my business, I also will not allow them to fully manage finances so that there will be no betrayal in the future. Because of the many betrayals that occur, it always starts with money, not from anything else.

[tygeade]

It really depends entirely on the people involved.

And if you are wondering whether you should do it or not, then I suggest that you think about it more carefully. Usually, personal relationships and business do not mix well which would make anyone think that it'd be better to never do businesses or investments with friends or family since this would save not only your capital funds but also your relationship with them. In some sense, this kind of thinking does make sense, but this does not apply to all scenarios/situations. For instance, if a friend or family has the qualities, skills, temperament etc., that aligns with your standards and trust that it would benefit the business or investment you are planning to make, then collaborating with those people would be the best decision. Again, it really depends entirely upon the people involved, that's just how it is.

There are examples of people who did it and they were fine, and there are examples where people did it and it was terrible. Apple, microsoft, facebook all of those started by bunch of friends, and they did very well so there are examples that it does work very well. But we have heard bunch of examples where it did terrible as well so it wasn't really a huge deal neither. So all in all I would guess that it was alright but not amazing or terrible, just alright.

I personally wouldn't do it if I had the chance, there is no reason to trust something like that and it would be smarter to avoid it if you could, I didn't really avoid it too much but just didn't had any chances and would suggest the same to others, just don't do it if you can avoid it.

[Unbunplease]

Business with friends can be successful, but they must be people who genuinely care about each other and want to move forward in life together. Keep in mind that money is a tricky thing. When a business becomes successful, friends often become enemies because there is something to share. So it all depends on the individual.

[JeffBrad12]

honestly when it comes to money someone gonna do anything for it, betrayal when in business is very common there's reason in everything in business there's contract.
you just don't trust people's words when it comes to business but trust their statement in legal way, that's guaranteed by the law. if it's business with friend, make a contract, make system that doesn't matter how much they try to trick you, they can't because the system says so, there has been many cases that I see so many are getting betrayed by their own friend whether their money getting stolen, etc these friend are also have their own brain in which could do some silly thing when it comes to money, so I'd usually never ever gonna start business like start up with friend it's just not worth it and it could destroy your friendship for long term.

[Yatsan]

Having a business with a friend is both a good and bad idea. It is money we are talking about and we all know people are different with onr another. Once greed take place between friendship, for sure outcome won't be good as expected. I would prefer engaging to business alone not because I am greedy of growth but jist avoiding to cause any conflict to my social relations. Atleast in such way, there will be no one to blame; businesses has risk of losing money. Same thing goes if it succeeds. The only difference is that you'd be the only one responsible for whatever outcome it would be and that is I think better also to an extent wherein you'd be able to move, decide and act for your business' growth, freely without the need to consider other people's viewpoint. But this is more to avoid possible problem with my circles.

[gunhell16]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

In the first place, those are only two if, for example, the business you built with your close business friend does not succeed, either you are tempted by money or you are honest in your association as business partners because of mutual distrust.

It's hard to partner with someone you can do business with if you yourself doubt him, and the business partner we choose must be 100% trusted and you really know the type you witnessed the beauty of your company.

[RealMalatesta]

And sometimes it is also very difficult to know the true nature of our business partners, because the business partners we trust can also hide their true nature in front of us in order to achieve goals that have never been told directly to us. So betrayal always begins with mutual trust so that there is no suspicion at all before it happens to an ongoing business.

I prefer to run my own business without having to involve more people in it. And even if I have to use several people who I will pay as employees in my business, I also will not allow them to fully manage finances so that there will be no betrayal in the future. Because of the many betrayals that occur, it always starts with money, not from anything else.

It is not even hiding at times, it is just not being able to know that it exists. Like if you never started your own business before, but start it with your friend, maybe you will learn about yourself too? Maybe you are too timely and anyone who is late bothers you, maybe you are too hardworking and that is not matched with others, you may think you know yourself but how much could you even know about yourself without first testing and seeing how you are.

This is why I feel like it is not going to be hiding, sometimes it is unearthing that feeling. This is why two people starting a business could mean that they could have a much better response, or it could mean that it will end up being terrible as well, we would never know how it could go.

[Dalib]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Going into business with a friend can be a fantastic experience, but it can also bring unique challenges and potential risks. The biggest concern is the possibility of damaging the friendship if things don't work out, especially when there are conflicting opinions or misunderstandings about the business.

To mitigate these risks, it's important to have open and honest communication from the start. This means defining roles and expectations clearly, developing a detailed business plan, and discussing how to handle disagreements in a respectful and constructive manner.

It's also essential to separate personal and business issues as much as possible. Having a clear separation between the two can minimize the emotional impact if there are disagreements or financial difficulties.

[umbara ardian]

Going into business with a friend can be a tricky situation, as it involves mixing personal and professional relationships. Even though friends may have a close relationship, it's essential to treat the business partnership as a separate entity and create legal documents that clearly define each partner's roles, responsibilities, and profit-sharing arrangements.

Documenting the partnership in a legal form can help prevent misunderstandings and disputes down the line, and it's crucial to ensure that both partners fully understand and agree to the terms outlined in the agreement.

[retreat]

And because of that as much as possible to be able to avoid business dealings with friends, because there have been many stories from people who were betrayed by their own friends when the business they had built was successful. There is even a saying that "money knows no blood" meaning that anyone, whether friends, relatives, even our own parents can be evil when it comes to money. I'm not saying that building a business together with friends or people closest to us is a bad idea, sometimes it's much better, but it's good that we don't believe 100% and leave everything to our partners, sometimes we also have to be wise and anticipate the worst before it happened.

[bayu7adi]

We all know that every individual in this world possesses a unique and distinct character. In business, it is crucial to have a shared goal that must be achieved. In fact, one person must yield to prioritize their idea in the business they are running, as it is impossible to run a business with two different technical ideas simultaneously. Differences in opinion and ego are the key factors that play a significant role in the success of a business conducted with others. Even friends with similar frequencies may find it challenging to run a business together due to their differing ideas.

[$anounimus$]

We all know that every individual in this world possesses a unique and distinct character. In business, it is crucial to have a shared goal that must be achieved. In fact, one person must yield to prioritize their idea in the business they are running, as it is impossible to run a business with two different technical ideas simultaneously. Differences in opinion and ego are the key factors that play a significant role in the success of a business conducted with others. Even friends with similar frequencies may find it challenging to run a business together due to their differing ideas.

In my environment, almost everyone who is involved in business with friends has to part ways. There are several reasons that will make the partnership end, one of which is wrong management. For example, in one joint business venture with the same capital, it will certainly give birth to two leaders, as a result of having two positions of leadership, of course, different policies will be made. It's very common for everyone to need recognition when the business is progressing and of course one of them will feel uncomfortable due to being dominated by one of them and coupled with excessive suspicion that causes the destruction to occur. So I hope that we still have to build a business without having to share, it's better to stand on our own feet by opening business relationships as widely as possible.

[ichsan ardi]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

So far I do business with my friends, the business runs smoothly and there are no problems, but we cannot entrust 100% of our business to our business friends.  We must always check according to existing procedures and discuss existing problems with each other because business is a business of many friendships.  it's not good just because of money even family relationship is also like that to solve the problem it doesn't happen still always be wary of our own friends or family because money can be a source of problem in relationship

[domoy77]

So far I do business with my friends, the business runs smoothly and there are no problems, but we cannot entrust 100% of our business to our business friends.  We must always check according to existing procedures and discuss existing problems with each other because business is a business of many friendships.  it's not good just because of money even family relationship is also like that to solve the problem it doesn't happen still always be wary of our own friends or family because money can be a source of problem in relationship

Doing business cannot trust anyone 100% even your family, there should be suspicion to anticipate financial abuse from your staff, but in the current era it is very easy to identify company finances because everything is recorded in the application so any errors can be easily found, so all procedures apply to all employees without exception your friends and even your family.

[Twentyonepaylots]

So far I do business with my friends, the business runs smoothly and there are no problems, but we cannot entrust 100% of our business to our business friends.  We must always check according to existing procedures and discuss existing problems with each other because business is a business of many friendships.  it's not good just because of money even family relationship is also like that to solve the problem it doesn't happen still always be wary of our own friends or family because money can be a source of problem in relationship

Doing business cannot trust anyone 100% even your family, there should be suspicion to anticipate financial abuse from your staff, but in the current era it is very easy to identify company finances because everything is recorded in the application so any errors can be easily found, so all procedures apply to all employees without exception your friends and even your family.

Also, those close to you tend to take you for granted since they know that they are close to you. That is why I might not be interested to make business with a family or friend since there could be a lack of professionality in the workplace that may results to some problems on the business. But, this does not mean that it cannot happen since there are some people who are really business oriented that they are passionate and serious on what they do and know how to be professional, setting aside the idea of being friend but rather be a business partner who do its part in making the business successful. So, you learn to assess your potential business partner since they would really affect the way your business would work and also how successful can it be in the future.

[glendall]

sometimes building trust in others is very difficult, especially with business friends,
Worries about being deceived by business partners will always overshadow the truth, looking for a business partner must be open to each other in financial matters when building a business so that one day if one has financial difficulties one can openly withdraw investment funds at the beginning, but this is hard to find
the most comfortable thing is to build your own business slowly and believe that the business we have will grow on its own if we are active

[bettercrypto]

I just want to ask what is the reason why his partner left the business besides bringing the money? have you been tempted by money or have you become wild with money?

       You know, it's a little sad that stories like that are friends whose long time together is broken just because of money. That's why I really believe that there are only two types of people, who control the money or we control the money.

That's why I'll make sure that my best friend is the person I test during times of crisis, we are together and always help each other during this situation.

[Huppercase]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There is a popular saying that there is no friend in business but an associate, never run a business with emotion or family intention and ignore the necessary things. That man wasn't smart, they had the business plan but he failed to plan on how the business should be run, where are the papers, didnt they sign agreements or he just did a normal business with his friend without papers? I believe before he had business, he was tought about business plan but forget paper work of partnership, sigh!

There is nothing hard in this, if you are planning to do business with a friend or a brother or with your family, don't forget to paper down contracts and agreements, it will save not only you but when something you don't expect like death, it will easily save your next of kin from any other people that plan to cheat in them.

[YinShuiSiYuan]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There is a popular saying that there is no friend in business but an associate, never run a business with emotion or family intention and ignore the necessary things. That man wasn't smart, they had the business plan but he failed to plan on how the business should be run, where are the papers, didnt they sign agreements or he just did a normal business with his friend without papers? I believe before he had business, he was tought about business plan but forget paper work of partnership, sigh!

There is nothing hard in this, if you are planning to do business with a friend or a brother or with your family, don't forget to paper down contracts and agreements, it will save not only you but when something you don't expect like death, it will easily save your next of kin from any other people that plan to cheat in them.

That's true you have soo many ups and downs in a business and you have to be rigid regarding rules in any business and with a friend you can't be strict and you can't command him about things.
So better do business with a business partner not with a friend so in case if things go wrong you relations dint get affected.

[Faisal2202]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

If your main concern is only about successful ones businesses then I'm not on that list but I do have partnered with my friends in Web Mastering (making websites and flipping them). The main advantages are, the workload and investment load are divided which eliminates half of the worries and tests a person's mind, There is a saying "You should eat with that person". This might give you an idea of his behavior in hunger, like is he thinks about himself or for you.

We were 3 friends and started a business together (same aforementioned), I was the main character as i have more knowledge, i started to give them tasks which i don't like because we were partners, not a company in which i am their boss i, talked with one friend and asked him what you say on this, he shared his thoughts and then the other one does the same. They always replied, do as you wish we will follow you. And i don't like that. Well, time passes and one of them was not showing interest as he was already doing another job and i know he got less time so i already had an idea how much time he will give but he was not as devoted to our work as he was devoted to his. So, i took him as uninterested.

Well, the thing is, when you are in business with your friends you can talk your heart out and tell them the feelings you are getting from them. Well due to this business other 2 quarreled and now they don't talk with one another if they have to convey a message, they pass it through me (i was a middle man) which i also not liked.

So overall, if you want to partner with friends then only do with one not with 2 or more because this could cleavage your friendship over time. Which you may also not like.

[xSkylarx]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There is a popular saying that there is no friend in business but an associate, never run a business with emotion or family intention and ignore the necessary things. That man wasn't smart, they had the business plan but he failed to plan on how the business should be run, where are the papers, didnt they sign agreements or he just did a normal business with his friend without papers? I believe before he had business, he was tought about business plan but forget paper work of partnership, sigh!

There is nothing hard in this, if you are planning to do business with a friend or a brother or with your family, don't forget to paper down contracts and agreements, it will save not only you but when something you don't expect like death, it will easily save your next of kin from any other people that plan to cheat in them.

That's true you have soo many ups and downs in a business and you have to be rigid regarding rules in any business and with a friend you can't be strict and you can't command him about things.
So better do business with a business partner not with a friend so in case if things go wrong you relations dint get affected.

It was opposite because you are more comfortable with your friend, like instructing him or commanding him , unlike having a complete stranger that goes into this , but the problem with having a friend is the trust , because for sure you completely trust your friend but turns out that your friend will scam you , that is why it is still better to be your business partner is your friend but limit your trust as it always kills you.

[Pujangga]

Money really makes anyone tempted to become a devil, a business that has been done in 5 years is enough time to get profit at any time, but because of greed he prefers to carry all the money, and this is the importance of financial control, if we do business then to withdraw money should be arranged so that some people agree, and this is an important lesson for us.

[slapper]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

If your main concern is only about successful ones businesses then I'm not on that list but I do have partnered with my friends in Web Mastering (making websites and flipping them). The main advantages are, the workload and investment load are divided which eliminates half of the worries and tests a person's mind, There is a saying "You should eat with that person". This might give you an idea of his behavior in hunger, like is he thinks about himself or for you.

We were 3 friends and started a business together (same aforementioned), I was the main character as i have more knowledge, i started to give them tasks which i don't like because we were partners, not a company in which i am their boss i, talked with one friend and asked him what you say on this, he shared his thoughts and then the other one does the same. They always replied, do as you wish we will follow you. And i don't like that. Well, time passes and one of them was not showing interest as he was already doing another job and i know he got less time so i already had an idea how much time he will give but he was not as devoted to our work as he was devoted to his. So, i took him as uninterested.

Well, the thing is, when you are in business with your friends you can talk your heart out and tell them the feelings you are getting from them. Well due to this business other 2 quarreled and now they don't talk with one another if they have to convey a message, they pass it through me (i was a middle man) which i also not liked.

So overall, if you want to partner with friends then only do with one not with 2 or more because this could cleavage your friendship over time. Which you may also not like.

Forming a business partnership with a friend? Like a high-stakes gamble, it's a risk. However, I must admit that the remark does its job. The odds of success are low. Who is really to blame? Disjointed conversations and hazy boundaries. Dissolving business alliances brought on by power struggles and divergent goals? As usual as the rain. Mix friendship with the mayhem? Worse than before. But listen up, people: having defined responsibilities and communicating openly from the start helps pave the way to success. Possible? Sure thing. Risks? Everyone in business knows them, whether they're buddies or not. Dare we take a chance and exert ourselves? Exactly what is the payoff? Tremendous!

[Joshapat]

Fraud can occur even from things that we think are impossible, many cases are like the above, even in family businesses many make criminal manipulations by killing other family members, this is what makes us have to improve our attitude and not focus too much on business, value humanity and kinship must be more important than just profit.

[uswa56]

Money really makes anyone tempted to become a devil, a business that has been done in 5 years is enough time to get profit at any time, but because of greed he prefers to carry all the money, and this is the importance of financial control, if we do business then to withdraw money should be arranged so that some people agree, and this is an important lesson for us.

therefore it is very important not to do business by bringing friends or family relationships even though business can be done with anyone, but in doing business any relationship is no longer valid.
because money is a lot of people who are blind so they do everything they can to get it, everyone knows that but there are still many cases of loss of friends or breaking up of family relationships because of running a business together and being in trouble because of financial management.
many lessons and experiences from others that can be taken in this regard.
the point is not that we can't do business with friends, but we have to be able to make management controls properly and correctly.

[odunybiz]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

This type of stories is very common among friends even among brothers or family members. When it's come to money, one have to be very very careful. You can't know how faithful your friend is untill you test him/her with money. Money has its whole spirit and if one isn't careful the spirit can mislead oneself. If I'm to engage with a partnership with anyone it has to be legally backup and we must be the signatory to the company's account.

[judaspriest]

Fraud can occur even from things that we think are impossible, many cases are like the above, even in family businesses many make criminal manipulations by killing other family members, this is what makes us have to improve our attitude and not focus too much on business, value humanity and kinship must be more important than just profit.

The first is to decide what kind of goals you want in investing, after that you can choose which coin suits your goals,
basically top coins like Bitcoin, Ethereum and BNB are the best choice for long term investment,
it will give profit but again it depends on how we manage it.

[TheGreatPython]

There is a popular saying that there is no friend in business but an associate, never run a business with emotion or family intention and ignore the necessary things. That man wasn't smart, they had the business plan but he failed to plan on how the business should be run, where are the papers, didnt they sign agreements or he just did a normal business with his friend without papers? I believe before he had business, he was tought about business plan but forget paper work of partnership, sigh!

There is nothing hard in this, if you are planning to do business with a friend or a brother or with your family, don't forget to paper down contracts and agreements, it will save not only you but when something you don't expect like death, it will easily save your next of kin from any other people that plan to cheat in them.

That is such a good saying, I have never heard of that before, that is very right and correct. I think when you start a business with a friend, trying to make it work is a hard business because you may end up trying to get them to work and they may either do a bad job or maybe not even work at all. I try to make games witha friend of mine all the time and he just doesn't work, he always gives me excuses and always says he is busy and never really works on it at all.

I believe that if we could end up with something better, then we may end up with a better result eventually. I say do it on your own, whatever business you start, always be 100% owner, that way you can be sure that you are getting what you deserve and not what others gave you in return.

[rahulzx]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There is the theory that always our business studies teacher used to say that don't consider your best friend in life, always best friend for your business. There are common concern that all your business transaction should be accountable, nothing should be over the hand based on not a quality like trust & truthful, those qualities need in living around your society however not in business dealing with your neighbors & friends.

[Fortify]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

If you value your friendship, then it's better to avoid going into business with that person. Some people might talk about it like a dream venture, however in reality business can be a very stressful affair and it is easy for cracks to form. People have different skills and work tempo's, this can lead to resentment building that it is not an equitable partnership. If someone is bringing very little to the table but taking a large cut, then it will ultimately lead to a falling out. Business is also driven largely around money and debt's can build up if it's not handled wisely. All sorts of problems may arise that could be handled badly and not just that - working in close proximity with someone can amplify even the smallest traits that might cause friction.

[Davidvictorson]

I am very concerned about going into business with anyone no matter who the person is. So far because of the clearly stated reason. There must be a binding agreement duly signed by both parties, a Judge and in the presence of a witness or witnesses from both sides.

[Baoo]

Regrettably, it is quite tough to build trust between partners nowadays even when the person you are in touch with is your close friend and that could even make everything worse especially when you confuse between business and friendship. Simply, business is business and friendship is friendship. The way you treat each one of them must be completely different than each other. In addition to that, it would be better if you lead your own business instead of taking a risk through partnering with someone. In fact, I genuinely believe that everyone is hiding their dark side, and these people would not let you notice their worst traits spontaneously until you test them . And to be honest it’s not that easy to get to know their characters well.

[Vaskiy]

I am very concerned about going into business with anyone no matter who the person is. So far because of the clearly stated reason. There must be a binding agreement duly signed by both parties, a Judge and in the presence of a witness or witnesses from both sides.

Whether it is a friend or someone who is known through some source, it is a must to make agreement and start the business. In most of the cases it is possible to see friends ending up the strong relationship after starting businesses. When it comes to money everything gets disturbed.

[Ani1985]

Money can make anyone a criminal, in my country the level of corruption in the country is increasing, when corruptors are caught they will hire a top lawyer so that the sentence can be light and even many of them escape and serve in the government again, business is a dangerous thing if we don't have control , friends can easily take all the money and do not care about the value of friendship.

[Negotiation]

Doing business with a friend will make it worse that's why it's better not to do business with a friend. No identity should become more important than the identity of friendship remember, your business success must be based on friendship. Disagreement in any work can lead to cracks in friendship also business means money and wherever there is money, there is anarchy. Transparency is the key to business success in our country financial troubles often stop budding businesses.

[Pierre 2]

I think if you establish business with a friend or relative you should treat her/him at same behaviors that you would do to your random partner. Friendships and family relations don't build up on money. Money and business are very different subjects so, there is literally no other way. If your partner can't follow your cold blooded nature its better to ask him about quitting business. Its not for everyone anyways. Honestly I personally can't do business as I am very undecided person in my life.

[summonerrk]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I have a similar story from my friend's life.
He started a small business with relatives. So I had to do it because there was not enough money to found it alone. And later, when the first profit began, this friend quarreled with relatives. The reason was simple: the contract stated that they split the profits in half. But my friend worked until night, and on weekends, and on holidays. It wasn't fair.

Conclusion: the profit should be divided proportionally to investments and efforts.

[BobK71]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

This type of stories is very common among friends even among brothers or family members. When it's come to money, one have to be very very careful. You can't know how faithful your friend is untill you test him/her with money. Money has its whole spirit and if one isn't careful the spirit can mislead oneself. If I'm to engage with a partnership with anyone it has to be legally backup and we must be the signatory to the company's account.

Partnerships with friends and conducting a business are nothing new. Today, we can found behind various big companies that are in the partnership business. Again, there are many partnership businesses that have broken down. But I think those who manage their business by a specific set of rules will definitely be able to sustain their business. If there is good faith among friends and everyone is able to maintain his dignity then the business will definitely get rapid growth as well as will be flourished.

[AicecreaME]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I've once tried an investment kind of business with my two friends, I financed the business and I let them did the work. I am the one who holds the money, since I'm the boss, and it went well. I believe before you start a business with a friend or with some friends, it must be someone who you really know well, like really well, because your bond is very important. It must be someone that values your friendship and respect you as an individual who is superior to them especially if they know well that you are much talented to them.

But that doesn't mean that you don't respect them as well just because you're superior to them, if you know what I mean.

[Kadal Ijo]

It's really sad the story above, friendship and business are broken because someone is greedy, it's only natural that it's difficult to recover from this situation, this is of course a lesson for all of us that when a business looks good and profitable then financial controls must always be tight so it's not easy to carry assets or selling assets.

[Rigon]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

I too am a victim like the person in your story. We were four friends and we came up with a business plan. We invested some money there in the first place but our business was ruined by the tricks of two men there. Since then I have learned to never share anything with anyone. Business shares means living at risk for you later on. Always try to do something by yourself.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

All people's minds in the world are not the same. There are still good people in the world because of which the world is still being run well. I have met many people who have succeeded in doing business together.

[puloweh555]

Mixing business with friends can be challenging, especially if there are no clear rules and no separation between business and personal relationships. Doing business with friends trust and honesty are very important in any business and relationship, including with friends. However, it is not always easy to maintain trust and honesty among friends in different business situations. Therefore, it is very important to have clear rules and understand each other's roles and responsibilities in business. it is also important to keep business relationships and friendships separate at work and not let personal conflicts influence business decisions.

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

There are still many good people in this world and many success stories in doing business with friends, by setting clear rules and maintaining a clear separation between business and personal relationships, combining business with friends can be successful.

To overcome this there are some basic rules that might help are:

1. Define clear roles and responsibilities.
2. Set clear and measurable targets and business goals.
3. Develop a clear and structured business plan.
4. Schedule regular meetings.
5. Avoid bringing personal matters into the workplace and vice versa, do not bring business matters into personal relationships.
6. Establish rules for making important decisions together.
7. Ensure that all decisions made are based on business interests, not personal interests.

By keeping business and personal relationships separate and setting clear rules, combining business with friends can be successful and even an opportunity to strengthen relationships and achieve common goals. However, if there is a dispute or problem in business, it is important to resolve the matter in a professional manner and not affect existing personal relationships.

[LogitechMouse]

~
On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

What you shared isn't happening to every business partners out there. In fact, I don't see anybody who will just run away with all the money the company has without any deep reason at all.

I mean in reality, we don't see this thing happening more often especially in those huge businesses already. I'm not a business minded person that's why I don't know some of the concerns the business partners are facing, but for sure trust is the main concern. Like you said, your partner can be your partner, but anytime he/she can be your enemy in an instant, and betray you. On the other hand, I assume that these business partners are good businessmen as well, so if one ran away, the other can just rebuild his business, start from scratch on his own since he knows what to do already.

Ohhh I remember one small business that I had with my relative. I will just share it here. We tried to build a small business. At first, it was a profitable business, and we are profiting big, but that profit didn't last for even a month because after 3 weeks, he used all of the money that the business had to buy some vices for himself. Unfortunately, I'm not the one who's holding the money that's why it ended up as a loss.

[bakasabo]

I am very concerned about going into business with anyone no matter who the person is. So far because of the clearly stated reason. There must be a binding agreement duly signed by both parties, a Judge and in the presence of a witness or witnesses from both sides.

And even when everything is documented, your business partner can scam you. Human mind is very creative, you cant foresee every single trouble case and put it in contract. Business partner can indirectly harm business. Share information with competitors, reveal insiders information. And there is always a good old "I did not know" and "I did not expect that". Partner can hide behind these two excuses and it will be quite hard to prove opposite during trial.

[axxo]

For me if your going to put up a business with a friend it is important to consider several qualities such as his or her experience, their skills, their work ethics, how they communicate and how they share their values. If his or her qualities do not have those skills you have to think about it before putting up a business. A business partner should complements your strengths and weaknesses, they should have a very good background in business and you can enjoy working with. Both of you should have a clear expectations and strong working relationship based on trust and mutual respect. Everything should be documented as well and everyone should have access on all reports for transparency. Sometimes even your closest friend is hard to deal with there will arise the trust issues. If you do not trust your friend then do not put up a business rather than set up on your own alone.

[barisbilgili]

~
On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

What you shared isn't happening to every business partners out there. In fact, I don't see anybody who will just run away with all the money the company has without any deep reason at all.

I mean in reality, we don't see this thing happening more often especially in those huge businesses already. I'm not a business minded person that's why I don't know some of the concerns the business partners are facing, but for sure trust is the main concern. Like you said, your partner can be your partner, but anytime he/she can be your enemy in an instant, and betray you. On the other hand, I assume that these business partners are good businessmen as well, so if one ran away, the other can just rebuild his business, start from scratch on his own since he knows what to do already.

Ohhh I remember one small business that I had with my relative. I will just share it here. We tried to build a small business. At first, it was a profitable business, and we are profiting big, but that profit didn't last for even a month because after 3 weeks, he used all of the money that the business had to buy some vices for himself. Unfortunately, I'm not the one who's holding the money that's why it ended up as a loss.

that is what is feared when doing business with relatives or close friends, if without good financial management then destruction will come with great possibility because there is no shame or respect for thinking it is a relative or close friend.
actually there shouldn't be any family or other emotional relationships in doing business, many things must be separated in order to run a business well although there's nothing wrong with building a business with the closest people but the risk of losing close friends and family is the most severe risk you will face.

[slapper]

~
On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

What you shared isn't happening to every business partners out there. In fact, I don't see anybody who will just run away with all the money the company has without any deep reason at all.

I mean in reality, we don't see this thing happening more often especially in those huge businesses already. I'm not a business minded person that's why I don't know some of the concerns the business partners are facing, but for sure trust is the main concern. Like you said, your partner can be your partner, but anytime he/she can be your enemy in an instant, and betray you. On the other hand, I assume that these business partners are good businessmen as well, so if one ran away, the other can just rebuild his business, start from scratch on his own since he knows what to do already.

Ohhh I remember one small business that I had with my relative. I will just share it here. We tried to build a small business. At first, it was a profitable business, and we are profiting big, but that profit didn't last for even a month because after 3 weeks, he used all of the money that the business had to buy some vices for himself. Unfortunately, I'm not the one who's holding the money that's why it ended up as a loss.

Alliances in business, people! Like a high-stakes game, it requires trust and dedication. You are placing a wager on their abilities. But suppose faith breaks down. Unfortunately, some people really are dishonest. They'll use deceit and theft to get ahead. Collaborate with them? Really hurts like hell.

Don't let your aversion to dishonesty hold you back. Partnership dangers? Sure. However, the potential payoff is enormous. Find a partner who shares your ideals and aspirations, and your life will take off. Don't rush into anything; do your research on potential collaborators. Be wary of red flags like a dishonest history or a lack of full dedication. Yes, that's the one! Jump in, have faith, and talk it out. Defeat the enemy as a team.

[AnonBitCoiner]

Every advantage has a disadvantage; some businesses succeeded through partnerships with friends and family, while others failed due to a lack of trust.

Trust is the most important issue that is causing problems in various businesses, which is why it is important to have a signed agreement with a lawyer to avoid trust issues in a business so that it ends well.

You are right trust is the basic thing for achievements in a business of partnership so I think that if a person don't have trust on one another so they should avoid partnership because in this case they will fail to continue their business as well as their family bond will also break.

Everyone who is involved in partnership for business should think properly and don't cheat with one another, the resources should also be equally distributed so an ideal partnership will take place.

I think in this era initiate business lonely is better than partnership because if you are alone so no one will be there to interfere in the way of your success and also you will be free to take any decision.

[barbara44]

There is a popular saying that there is no friend in business but an associate, never run a business with emotion or family intention and ignore the necessary things.

I heard a different phrase which meaning is the same as that. It goes like this > "business is business, and there is no personal matters involved". That is true so that we can do the business well. Personal matters should be left off outside the working hours.

That man wasn't smart, they had the business plan but he failed to plan on how the business should be run, where are the papers, didnt they sign agreements or he just did a normal business with his friend without papers? I believe before he had business, he was tought about business plan but forget paper work of partnership, sigh!

Being not smart is not the perfect word to say but we should say that he is lazy because the plan is already there but he fail to work on it. To have an agreement and signing of contract is I think depends on how big and serious the project is. If it's only small and can be completed in a short period of time then there is no need for this as it also takes time and money to prepare it.

[bitzizzix]

Although there is no definite answer, the reality is that often starting a business with friends is not a good idea. Although not all are like that and some are successful in doing business with friends, and it all depends on what kind of friends we make true partners.
and I have three experiences doing business with two different friends who failed and failed, and one successful friend.
and the failure of these two businesses was caused because they were not so ready to live it and not in accordance with the initial enthusiasm and this made me feel tired and like running my own business, and this problem is very important even though in other respects they are good but don't forget that this is a joint business that everything must be done together. And because of this problem, the business did not go smoothly and stopped, but we are still friends because they also realized their mistake.
and with friends who are successful in doing business because he is a friend who is truly a friend like a brother and I feel we already have chemistry and a comfortable connection, sharing ideas, capital, innovation, and also sharing risks if the business doesn't go well fine. expected plan. And always do everything together except the constraints that can't be left behind, everything is transparent and also always happy even though sometimes it's not fun. And the business that I run with my friend is just a small but long-term business.

so doing business with friends can be a bad idea, if your friends are not responsible people and people who want to relax.
and it can also be a good idea, if your friend is the committed, responsible and hardworking type.

[Cling18]

When money is involved, it's hard to collaborate with your friends or family members. Even the closest person to us wouldn't mind breaking our friendship and relationship when greed exists. Yes, there are successful business partners but I don't think this setup would last the long run. There will always be comparisons, pressure, and competition if you are running a business with a friend because we can't disregard personal matters if relationships are involved. It's better to put up a business alone or just partner with a professional person who isn't close to you. Someone who is business minded and could only focus on the success of the business with you.

[tjtonmoy]

One thing I have learned so far is that, when it comes to money, don't trust anyone. Money is the only thing that can ruin a good relationship in just a couple of seconds. And when the sum is big, it's more concerning. And the constant fear and doubt is always there. If you really want a sound business, do it on your own. When you find the success, then add others in your circle.
I think, if you are having doubt on someone you call friend, is he really your friend? Avoid those people about whom you feel unsafe.

[bbigtart]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

It must be admitted that doing business with friends has its own challenges, especially if there are no clear arrangements regarding financial control. These challenges can be in the form of greed or disputes in making financial decisions. However, that doesn't mean doing business with friends can't go well. it is very important to maintain good communication with each other and make clear agreements regarding financial control from the start. This can include the division of tasks, financial arrangements, and long-term financial planning.

Because running a business with friends must also have an attitude of mutual trust and mutual respect for one another. Open and transparent communication on financial matters can help maintain mutual trust and prevent conflict. In doing business, decisions are sometimes required to withdraw money or make large expenses. it is necessary to make decisions jointly and based on an agreement from the start. This helps to avoid greed which can harm business as happened with your friend, it's a shame that the business has been running for 5 years.

in conclusion, doing business with friends can be a good choice if done with good arrangements and open communication. Good financial control and joint decision making can help keep the business stable and growing.

[Kelvinid]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

No way running a business will succeed without trust and that is what we need to build up. That is why we should consider having a partner that can be trusted as well especially when it comes to money and must be transparent with all the transactions we made - liquidation and complete listing is very important.
These things should have been carried both of you to avoid misunderstanding otherwise, it fails.
 - behavior
 - positive attitude towards the business
 - positive mindset

[odunybiz]

A friend can be a trusted business partner, but a business partner cannot be a trusted friend.

I love this quote too much. It's so difficult to make a trusted friend when running partnership with him. Just try this out among 100 friends (give them $10,000 to share), almost 90% friends will fail. This is when greediness and selfishness will come in.

If I have a friend and we discuss starting a business together, we would probably know each other well and understand that none of us will deceive the other if we become business partners, and that is the most important thing, to evaluate and understand the person before you get into business with them.

No matter how many years you have been together, you may not be able to assetain how greedy a friend may be when it comes to money. And remember a good friend may change with time due to some factors. Some of these factors include others friends influence, wife influence, family influence and many more. So I prefer a legal backup and both bodies as signatory to the account when partnering with anyone.

[ChiBitCTy]

This is a really tricky one.  I think if you do decide to go in to business with a friend, first you better fully trust in their skill level and what they bring to the table, forget friendship for a moment.  If you do, and you see something special in them, then maybe it's worth considering.  I have a friend who always mentions wanting to open a business together.  I would never ever do so because I don't trust their business savvy, or lack thereof.  Plus you risk ruining a relationship (this is always a risk)..so if you do decide to try it...know what the possible outcomes are.

[JeffBrad12]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

No way running a business will succeed without trust and that is what we need to build up. That is why we should consider having a partner that can be trusted as well especially when it comes to money and must be transparent with all the transactions we made - liquidation and complete listing is very important.
These things should have been carried both of you to avoid misunderstanding otherwise, it fails.
 - behavior
 - positive attitude towards the business
 - positive mindset

business could always strive without trust, what matters most is how you really build the system that prevents of misuse the authority given, there's reason why in company that already went public, even founder could be kicked out from the companies merciless if they didn't fulfill the requirements, it's because how the system works ensure that the stock holders gonna get most benefit and keeping the company alive by allowing these high rank company authority in check.
when it comes to business with friend, just do everything from legal perspective, you want to do business make it legal contract, like many have said, but of course there's always something that gonna become messed up, i deemed best course of action would be to make no business with these friends at all.

[lienfaye]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

That's the risk of having a partner when you have business. Because there's always a possibility for the other to have a change of mind and become greedy because of money. The reason why if you'd like to build a business with a friend, make sure you know him inside and out as one that you can trust and rely on.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Aside from the skills and knowledge on how good he is in the business that you'll build, it's important that you are comfortable with the person. You can share ideas, criticism and open to each other. In short he should be someone that you can trust, much better if you known him for a long time so you already know what kind of person he is.

[Lubang Bawah]

It's sad to see this case, because money from friends who are already in business has become a traitor, of course this is not the first story and not the last, money crimes will continue to occur because everyone likes money, what we have to do when doing business is to strictly control all expenditure.

[smile1218]

Well having or doing a business with a friend could include a high level of trust and familiarity with each other, which i think it can lead to a better communication and collaboration. Being friends you do share similar values and goals, which can make decision-making and problem-solving much easier. On the other hand there is also potential disadvantages to doing business with a friend. Personal conflicst or disagreements could have a negatively impact the business relationship. It can be difficult to separate personal and professional relationships that can lead to tension or resentment if one partner feels like they are doing more work or contributing more to the business. If the business fails it could put a strain on the friendship.

[xSkylarx]

It's sad to see this case, because money from friends who are already in business has become a traitor, of course this is not the first story and not the last, money crimes will continue to occur because everyone likes money, what we have to do when doing business is to strictly control all expenditure.

but still it is more trusted having a business partner that is your friend because you know him well but then that again the bad side on it which will make you blind on something because you trust your partner well but as long as you dont give your 100% trust on him and also check everything and get to hands on the business for sure you'll know if he is trusted or not. Right now if you arent cautious you'll be cheated so to prevent it make sure that you have an eyes everywhere

[Semar Mesem]

Money can indeed be the thing that makes us lose everything including close friends and even family relationships, humans will become greedy because they are tempted to live in luxury and no longer care about the value of friendship, but the interesting thing about this story is why it's too easy for friends to take all assets and there is no control from the owner.

[naikturun]

Going into business with friends can be a challenging but rewarding experience. Some of the biggest concerns include maintaining the friendship, managing expectations and responsibilities, and handling conflicts and disagreements.

[indo1]

a friend is a business friend is a business don't mix the two into one it will be very difficult for us because business is where we seek profit while friends are how we do a lot of good to him. those are two things that are mutually exclusive unless your friend is a person who supports your business without asking for any benefit from your business except your own desires.

[Gozie51]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

He would have better educated his children to make the partnership legal by signing documents, providing collateral like guarantors that would indemnify the losses incase a party didn't fulfil obligation as stated in the document. This is what is obtainable in the modern world and not to go into partnership blindly with the hope of trust carrying the long time of the business. This is a mistake on his part and he has succeded to put such fear on his heirs. These days businesses are capital intensive and you need some level of partnership or support to succeed and whichever, whether financial support or partnership is better written in black and white, duties and obligations well spelt out

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Those who have succeeded have not only relied on trust but documentation of what the business is, its goals and all terms spelt out. It is a lesson and better to make legal document for businesses and not to only rely on trust.

[Sterbens]

a friend is a business friend is a business don't mix the two into one it will be very difficult for us because business is where we seek profit while friends are how we do a lot of good to him. those are two things that are mutually exclusive unless your friend is a person who supports your business without asking for any benefit from your business except your own desires.

This seems normal, but without us realizing that doing business with our own friends is not as easy as we think, many people think that doing business with friends will make it easier for us to manage everything with the same mindset. But not a few of them also failed to run it. The problem that always arises when doing business with friends is the feeling of awkwardness that always arises and differences of opinion that make problems sometimes difficult to solve. Loss of professional principles because it is difficult to distinguish work time from time to joke or play. Money is very sensitive, you won't know who that person is, let alone friends, sometimes even your relationship with your family can be destroyed because of money.

[YinShuiSiYuan]

a friend is a business friend is a business don't mix the two into one it will be very difficult for us because business is where we seek profit while friends are how we do a lot of good to him. those are two things that are mutually exclusive unless your friend is a person who supports your business without asking for any benefit from your business except your own desires.

This seems normal, but without us realizing that doing business with our own friends is not as easy as we think, many people think that doing business with friends will make it easier for us to manage everything with the same mindset. But not a few of them also failed to run it. The problem that always arises when doing business with friends is the feeling of awkwardness that always arises and differences of opinion that make problems sometimes difficult to solve. Loss of professional principles because it is difficult to distinguish work time from time to joke or play. Money is very sensitive, you won't know who that person is, let alone friends, sometimes even your relationship with your family can be destroyed because of money.

Doing business with friend can be the best thing but only in highs and when you two agree on things but as soon as you have a clash on opinions and differences on almost everything things go upside down and with business your friendship is also destroyed so think twice before going into that.
Sometimes you have to be stiff regarding certain matters in business so with a friend you have a comfortable friendly thing and you can't be strict with them.

[Falconer]

Money can indeed be the thing that makes us lose everything including close friends and even family relationships, humans will become greedy because they are tempted to live in luxury and no longer care about the value of friendship, but the interesting thing about this story is why it's too easy for friends to take all assets and there is no control from the owner.

Your question will be answered by how financial management is carried out between the two people. You may have to trust your partner in the same business and build it together since you both have a share in the business fund. So it's natural for both of them to have access to a business account or budget, and that allows for the case above.

Businesses that are built by collaborating together in management will generally be divided when one of them is too selfish in managing finances. I have seen many examples around me where in the end the two collaborators were separated to have their own business and even compete with each other. But of course, not all of them will be like that because there are also businesses that really thrive because of good cooperation.

[Dickiy]

Money can indeed be the thing that makes us lose everything including close friends and even family relationships, humans will become greedy because they are tempted to live in luxury and no longer care about the value of friendship, but the interesting thing about this story is why it's too easy for friends to take all assets and there is no control from the owner.

That's right, maybe at the pioneering stage the solidarity business in building a joint business went well, I did it with some of my friends who had plans to have a business, and on that day we formed a commitment to do business and divide the tasks according to their respective abilities. respectively, and it went well for two years, after starting our business we had a significant increase with a very high flow of funds. And from there, there was social jealousy because they had status in different jobs and the division of income was also different, which made internal business conflicts climax and led to the dissolution of both business partners and friendship bonds.

[uneng]

but still it is more trusted having a business partner that is your friend because you know him well but then that again the bad side on it which will make you blind on something because you trust your partner well but as long as you dont give your 100% trust on him and also check everything and get to hands on the business for sure you'll know if he is trusted or not. Right now if you arent cautious you'll be cheated so to prevent it make sure that you have an eyes everywhere

To start a business with a friend as partnet is a risky deal. You have to trust that person a lot, because there are many variables which can happen on the middle of the way that will impact your business negatively due to your friend: he may lose motivation, deciding to stop working and dumping all the responsabilities and debt on you, he may not fulfill your expectations regards his work on the business, he may start creating disputes with you due to the belief he isn't being fairly valued...

That is why entrepreneurs avoid partners, and stick to employees only. This way they have total autonomy over the people who work with them.

[Furious 7]

Money can indeed be the thing that makes us lose everything including close friends and even family relationships, humans will become greedy because they are tempted to live in luxury and no longer care about the value of friendship, but the interesting thing about this story is why it's too easy for friends to take all assets and there is no control from the owner.

That's right, maybe at the pioneering stage the solidarity business in building a joint business went well, I did it with some of my friends who had plans to have a business, and on that day we formed a commitment to do business and divide the tasks according to their respective abilities. respectively, and it went well for two years, after starting our business we had a significant increase with a very high flow of funds. And from there, there was social jealousy because they had status in different jobs and the division of income was also different, which made internal business conflicts climax and led to the dissolution of both business partners and friendship bonds.

I think things like this can be minimized by serving portions and assignments. it doesn't mean that when you become friends in your circle of friends and co-workers, the salary must also be the same because I don't think this would make sense if it was like that.
There are several conditions such as the portion of work and position that must be distinguished so that we know that the salary we have is in accordance with the position we are capable of.
On the other hand, of course, we also have to be able to distinguish between feelings when friends and doing business because these things cannot be mixed up with one another. It would be a shame if something like this happened because not only would the business be destroyed but as you said, friendship would also be tenuous.

[bosede1]

I have never done business with friends but my take is everything in this life is information, for me to enter into any business partnership with any friend there will be a consensus on everything which will be written and backed by the law. Also, anything dealing with money must be countersigned by both parties.

[inthelongrun]

Since I graduated college, there were some proposals from my friends to start partnering for a business. Until now nothing turns into reality maybe because some of us are very busy, some are not willing and some of us are affected by the financial crisis.

Starting a business with friends is not really bad since we knew already our friends well, their strengths and weaknesses. But just like the story, not all of your friends are fit for business. Money changes everything friend or not. Even relatives will change because of money. In the past, I also turned down some offers from some of my friends because I know them well.

[Ryu_Ar1]

a friend is a business friend is a business don't mix the two into one it will be very difficult for us because business is where we seek profit while friends are how we do a lot of good to him. those are two things that are mutually exclusive unless your friend is a person who supports your business without asking for any benefit from your business except your own desires.

This seems normal, but without us realizing that doing business with our own friends is not as easy as we think, many people think that doing business with friends will make it easier for us to manage everything with the same mindset. But not a few of them also failed to run it. The problem that always arises when doing business with friends is the feeling of awkwardness that always arises and differences of opinion that make problems sometimes difficult to solve. Loss of professional principles because it is difficult to distinguish work time from time to joke or play. Money is very sensitive, you won't know who that person is, let alone friends, sometimes even your relationship with your family can be destroyed because of money.

Agreed. It is precisely in this case when doing business with friends who make the rules in business a little less workable in my opinion.
Even though we must be able to distinguish when the relationship between friends and business partners is correct, but for real conditions in the field this is precisely what becomes a little more difficult.
There is a sense of discomfort when we do that because we have more tolerance because our business partners are our own friends. But if it can be done and both parties know the boundaries then this will actually be very strong in the bond because of course trust is important, it's just that things like this will not be easy to achieve.

[rahmad2nd]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Basically, trust is built from two directions. not only in business and friendship, but also in other matters including partnering with a spouse and everything must be based on mutual trust. openness, transparency and commitment. with a solidly built foundation, things that are not desired can be easily resolved if there are internal problems.
however if the opposite happens, what you describe in this thread is prone to happen. It's not easy to build a business together, especially with a friend. sometimes, the little things can be a hindrance. which in essence, before we build a business together, we first know the background of friends who will become partners or joint business partners. this is done, so that something undesirable does not happen. even then there is no guarantee, basically humans have an innate nature that is always selfish when situations and conditions are unfavorable.

By the way, I have experience doing business with some of my best friends. long story short, the business did not go as planned and expected. in the end, friendship is at stake. with this experience, I said it at the beginning of the post. so to build a business with friends, it takes trust to be built from two directions. if possible, it's best to avoid doing business with your closest friends. because usually, business will not run well. except, if it is run professionally.

[Dr.Bitcoin_Strange]

I have not really gone into business with any of my friends, but when we were younger, me and one of my friend had the plan of opening a cooperative account and registering a business name, but any time we wanted to carry out this plan, some unforseen incident always took place that distracted us from the plan. But currently, I just discovered that my friend and I were just full of dreams and great expectations back then, we never had the same business intentions now, and perhaps if we had carried out those plans back then, I think we would have had some issues.

In this 21st century, people don't even go into business without signing some documents and agreements in court, which can be significant evidence should there be any bad acts committed by the two parties involved in the business. Whoever is going into business with their friend should make sure they involve a legal practitioner so that if any issues arise, they can be legally resolved.

[superman184]

I have never done business with friends but my take is everything in this life is information, for me to enter into any business partnership with any friend there will be a consensus on everything which will be written and backed by the law. Also, anything dealing with money must be countersigned by both parties.

I prefer partnerships in business, but the partnership I mean here is when a friend who already owns a business wants to work with my business where both can be mutually beneficial. Not in one business that is managed by two people, because if one business is managed by two or more people, surely one day there will be a commotion if there is a loss of capital money when calculating profits.

So it's better to partner by tying one business to another than putting friends into a business that we build ourselves, unless our business is already very big and really needs new people to run it. Both at the branches and at the basic location because when the business network has started to be wider and the area has been able to cover more, it will obviously require more people to be placed into the business.

[Oilacris]

I have never done business with friends but my take is everything in this life is information, for me to enter into any business partnership with any friend there will be a consensus on everything which will be written and backed by the law. Also, anything dealing with money must be countersigned by both parties.

I prefer partnerships in business, but the partnership I mean here is when a friend who already owns a business wants to work with my business where both can be mutually beneficial. Not in one business that is managed by two people, because if one business is managed by two or more people, surely one day there will be a commotion if there is a loss of capital money when calculating profits.

So it's better to partner by tying one business to another than putting friends into a business that we build ourselves, unless our business is already very big and really needs new people to run it. Both at the branches and at the basic location because when the business network has started to be wider and the area has been able to cover more, it will obviously require more people to be placed into the business.

For sure this one is pertaining about having a business with a friend or simply having that corporation in between both owners which same as you said which i dont really prefer nor dont like.Im aint saying

that i would really be having some trust issues but its better to avoid rather than on messing up your relationship or friendship just because of money because we cant really know that one day, there would be some sort of financial problem which would causes for those argumentation in both parties which is something that cant really be avoided if ever it do happens. So its better to run up a business on
solo mode on which you wouldnt really be minding yourself or really that depending into each other. As long you do know on what you are doing then it would really be just that fine on running a business on your own but if you do prefer on having a partner then its your call to take because this would always boils or falls down into someones preference and likings.

It is really just that there are people who are really that advanced on thinking up things ahead and this is why they would be making out some decisions early to avoid as much as they could.

[Nwada001]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

First-time experiences always have something to do with people's decisions, either positively or negatively. When one has a very bad partnership experience, it always gives them the belief that everyone might end up being the same, which is a very bad way of judging character.

Over to your question, I have not actually done any strong business partnerships with any friends or relatives; the only few that I have done were based on mutual agreement, which was just a simple business that doesn't actually require much trust.

If I am to actually enter into a business partnership with someone, be it family or whomever, it's always advisable to enter into a business partnership with someone with whom you have a mutual understanding, and at the same time, some form of legal agreement should be signed and sealed to enable each of them to hold on to their own part of the agreement. And when it comes to the monetary aspect, where trust is not guaranteed, one person should not be the only signatory to a business account, so that one person cannot go behind the other's back to withdraw the entire business's funds and make away with them.

[JeffBrad12]

Going into business with friends can be a challenging but rewarding experience. Some of the biggest concerns include maintaining the friendship, managing expectations and responsibilities, and handling conflicts and disagreements.

i'd say that's not a challange, imagine going to start a new business yet getting scammed by our own friends, that alone is already such problem, it's just adding more unnecessary problems in our heads, if we could start business with some stranger but always acts professionally that a hundred times better than having business with friends.
quite frankly sometimes starting business with friend just doesn't feel worth it at all, most of the time they just outright do something that's out of normal routine that's like smuggling etc, not that i have trust issue with friend but usually the people that know you usually takes things too lightly.

[xSkylarx]

but still it is more trusted having a business partner that is your friend because you know him well but then that again the bad side on it which will make you blind on something because you trust your partner well but as long as you dont give your 100% trust on him and also check everything and get to hands on the business for sure you'll know if he is trusted or not. Right now if you arent cautious you'll be cheated so to prevent it make sure that you have an eyes everywhere

To start a business with a friend as partnet is a risky deal. You have to trust that person a lot, because there are many variables which can happen on the middle of the way that will impact your business negatively due to your friend: he may lose motivation, deciding to stop working and dumping all the responsabilities and debt on you, he may not fulfill your expectations regards his work on the business, he may start creating disputes with you due to the belief he isn't being fairly valued...

That is why entrepreneurs avoid partners, and stick to employees only. This way they have total autonomy over the people who work with them.

Most entrepreneurs prefer investors to business partners because the reason they have them is to manage as well as have financial support because they are too busy or need more funds. Also, it just came to mind that if your business partner is completely random, your instinct is always to not let your guard down, meaning you are always investigating him, so you can prevent those bad things from happening, but again, this depends on the person, as some want no partner and others want the opposite.

[Distinctin]

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.
Success stories are likely to be friends who have the kind of personality that is really trustworthy and the two give importance to the relationship.
 
They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.

Financial stability and good family background should be highly regarded when it comes to choosing a business partner. Regardless if you are long time friends, that’s not enough guarantee that he will never cheat against you. Even if he’s trustworthy in some aspects, but I believe when it comes to money, the whole personality will be different. Especially if he can be easily influenced by his family and relatives, knowing blood is thicker than water, then he might end up doing things against your business knowing he’s manipulated by his own family. That’s why if I can do business on my own successfully, I guess that way is safer for me.

[Swordsoffreedom]

but still it is more trusted having a business partner that is your friend because you know him well but then that again the bad side on it which will make you blind on something because you trust your partner well but as long as you dont give your 100% trust on him and also check everything and get to hands on the business for sure you'll know if he is trusted or not. Right now if you arent cautious you'll be cheated so to prevent it make sure that you have an eyes everywhere

To start a business with a friend as partnet is a risky deal. You have to trust that person a lot, because there are many variables which can happen on the middle of the way that will impact your business negatively due to your friend: he may lose motivation, deciding to stop working and dumping all the responsabilities and debt on you, he may not fulfill your expectations regards his work on the business, he may start creating disputes with you due to the belief he isn't being fairly valued...

That is why entrepreneurs avoid partners, and stick to employees only. This way they have total autonomy over the people who work with them.

Most entrepreneurs prefer investors to business partners because the reason they have them is to manage as well as have financial support because they are too busy or need more funds. Also, it just came to mind that if your business partner is completely random, your instinct is always to not let your guard down, meaning you are always investigating him, so you can prevent those bad things from happening, but again, this depends on the person, as some want no partner and others want the opposite.

It's also part of the risk in business, everything is risky, it's perfect or not, it's all up to us. Sometimes collaborating or doing business together is a good thing because no one is perfect, and working together helps to fill each other's weaknesses. From there, we can maximize the strengths of our business.
I am also doing business with a friend, and things are going very well because we trust each other. If you want others to sacrifice for you, you have to sacrifice for others first. You can't ask them to trust you while you always doubt them, trust needs to come from both sides. And sometimes, there will be a small sacrifice to make things go smoothly.

[adzino]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

How can someone just disappear with the "company's money"? How was he able to withdraw all in cash? He does know his friend. He does have his ID and stuffs. Finding where he is hiding would have been a piece of cake for the law enforcements (unless he escaped the country, and the police would know that too after little investigation...). So did he report to the cops or not?

As long as you trust him, you should be fine. Register your business, put conditions on how someone can handle the company's money. Never let one person have full access to the funds.

[DrBeer]

From personal experience: the basis of a joint business, ALWAYS make agreements, written and signed by all parties. What yesterday you considered or was friendship or trusting relationship - in a difficult or vice versa, very good situation, can become completely different ... Describe everything - who invests how much, how profit is divided, how losses are divided, how funds are raised, clearly state obligations and the responsibility of each of you, including penalties ... Believe me - this is not distrust, this is just complete trust between partners who are not afraid to fix their agreements and obligations to each other!

[mich]

Yes it would be very concerning for me going into business with my friend. If two friends are putting money to do a project and at first they assume all the risk that whatever money they are putting together to do this project is to make a profit.
But instead, the project ends up costing more than what was expected and one of the friends bails out of their commitment to fund the project. And the other is stuck with the bill to pay for the cost of the project.
It would become a difficult issue to have to deal with it and would ruin not only a partnership but a friendship. If you need to do this, have a business plan so that when you are ready you don’t have to rely on that friend and have to put a friendship in jeopardy.

[ancafe]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

Currently I'm still running a small business with my friends, there are levels of ups and downs when doing business with other people, both bringing money and being lied to about sales results. The mistake is not in the business we are in, but we are working with the wrong people, you need to verify who your friends are in business and what their background was before.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

We made an agreement at a notary as an effort to ensure that the business trip we worked on together, in the agreement we made was witnessed by the families of the three parties, so that if something goes wrong we will sue civilly and criminally. Until now there have been no obstacles in the small business that we manage with three friends and every year we get a fair share of profits, because in the agreement at the notary we have made legally binding rules, both the initial capital and profits.

But I agree that it is not advisable to do business with people whose origins have not been verified and crimes are usually committed not on purpose but because there is an opportunity. So try to be more selective in choosing business partners.

[Gallar]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Actually a problem like this, it is difficult to avoid it. Because human actions are very difficult to predict. None of us know about the contents of a person's mind, let alone what is in his heart, we certainly will not know. So when co-workers will lie, or betray, we cannot predict all of that.

Therefore if you are going to open a business and have partners in the business. You have to be able to find co-workers who are really close to us and the possibility of betrayal is small. By running this way, in my opinion, it will slightly reduce the worst possibility. But even this way cannot guarantee 100%, that there will be no conflict or betrayal with your co-workers. Because as I said, human actions are unpredictable, and their attitudes tend to change. So basically, you have to be more careful in running your business, don't trust your co-workers too much (just in case), you have to be open with each other and always manage everything together. And if you do all of these actions, I think a business will be more controlled and will reduce the potential for fraud from colleagues.

[Fortify]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I think there are far fewer stories of success in businesses started by friends and family, than there are disasters where relationships have suffered great strain because of issues in the business. Business often requires a single leader to drive the direction, so if you end up with compromises or stuck with opposing views on important decisions then you might fall out. It adds a whole new dimension of extra stress and may bring out a hidden, worse, side in some people x

[ringgo96]

In doing a business, trust and honesty are very important things because from there we can build our business partners easily, but we don't trust someone completely because there are many business friends who commit crimes when they see the benefits they have obtained, so there are certain things that we really have to keep secret to keep each other from happening things that we don't want.

[Paul Pogba]

When doing business, of course all decisions related to assets and finances must be mutually agreed upon, when there is a business friend who wants to withdraw cash at the bank, we must be aware of it, especially if our share portion is larger, it is better not to give the opportunity to know or control finances.

[flyingcarpet]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

How long have I known my friend? What are their thoughts on money? What would he think if he had too much money? Establishing trust is not an easy thing. But once it is achieved, things get easier. How does he treat his family? How does it approach the environment? All these questions are questions that should be asked beforehand in order to do business with a person.

I wouldn't start a joint venture without getting the answers to these questions.

[Moeda]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Something that is difficult to build in a business partnership is mutual trust. Trust will be established only with friendship. However, suspicions began to arise when the business that had been built was successful, and at certain times the income was not as good as usual. There is no other solution except to get rid of all bad prejudice to our business partners. However, if business partners have the intention to cheat as you describe, of course they have chosen the wrong friends from the start.

But we shouldn't feel down after such conditions occur, because they will feel proud to tell others when something bad happens to us. We have to be able to get up and start a new business until it's successful, and people who deceive us will feel guilty when they decide not to cooperate, or commit fraud.

[19Nov16]

Money is indeed proven to make people we trust become criminals in a short time, I'm sure he has been planning this fraud for a long time, but because he knows a good opportunity, he immediately executes it, of course this brings many valuable lessons for those of us who will make a business and use the services of friends to manage, always be vigilant and exercise strict control so that we experience this.

[posi]

From personal experience: the basis of a joint business, ALWAYS make agreements, written and signed by all parties. What yesterday you considered or was friendship or trusting relationship - in a difficult or vice versa, very good situation, can become completely different ... Describe everything - who invests how much, how profit is divided, how losses are divided, how funds are raised, clearly state obligations and the responsibility of each of you, including penalties ... Believe me - this is not distrust, this is just complete trust between partners who are not afraid to fix their agreements and obligations to each other!

Totally agree with you. Maybe when we play together and live together, we are good brothers and never quarrel or quarrel, but when it comes to business, things involve money. We should say everything clearly to each other, there should be a contract, an agreement between the two parties, and it is better to have it notarized by the local government. If it comes to work, don't bring emotions to the conversation, everything should be clear between public and private issues. Only then can we go far together.

As for me, I really don't like doing business with anyone, not even siblings. There will be many problems that happen that we do not anticipate.

[Viscore]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

As you have said their many people that do join business with their friends and both due succeed  without betraying each other and are also many to that did and betrayed. we should know that all human beings cannot have perfect mind and with that they can't be all truthful.but all it requires is trust, once you are able to study your friend well and found he/she with truthful character and you believe it will be very hard for someone to convince he/she away from the truth line,why will I be afraid of doing business with such person?as for me i believe much about many friends I have because their character toward make me, make me believe much in them that they can't betrayed me on any way but they may surely be some among them that may have bad mind ooo but I never witness that habit from them any of them because I don't make much friends and even before we agree on any business there are will be agreements between both of us.some people say trust nobody, but we need to trust some one in order to make some our ways easier.

I have to agree with this. We don’t need to take our ventures alone if we have some trustworthy friends that we can rely all the time. If I were to build a business with my friends, I think that would be easier for the business to prosper since we are both working for our business to grow and yield high returns. However, we should  always chose those real friends from fake friends. But if you have been dealing on that person for a long time and you know each other’s personality and family background as well, then there’s no reason that you can’t give your complete trust to him and make him as your business partner.

[BVeyron]

Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

Money spoils people, that's a sad truth... Many successful business projects were launched by a small team, sometimes even by only two friends. And when the project becomes profitable, conflicts emerge. Often former partners start sueing each other, splitting business etc. And if someone wants the great deal of money, then he/she should do the best to successfully beat the former friend, and take the whole business initiative under undoubtable personal control. Nearly all biographies of well-known entrepreneurs contain such steps on the way to money and fame.

[BobK71]

Doesn't matter how close your friend, there will be a different situation if there is money. Either he will not trust you or you can't believe him. This is the situation which is most common in the partner business. However, if the basic structure of a business is correct and the business is conducted systematically, then the partnership business will survive. All the issues for conducting business should be kept in the form as the Document. There are some places where some are conducting good business with friends and many businesses are breaking down.

[DrBeer]

Totally agree with you. Maybe when we play together and live together, we are good brothers and never quarrel or quarrel, but when it comes to business, things involve money. We should say everything clearly to each other, there should be a contract, an agreement between the two parties, and it is better to have it notarized by the local government. If it comes to work, don't bring emotions to the conversation, everything should be clear between public and private issues. Only then can we go far together.

As for me, I really don't like doing business with anyone, not even siblings. There will be many problems that happen that we do not anticipate.

That is the reason for what I have described. Many relatives / friends, at the time of creation, build "pink plans" exclusively about success. But often they are not ready for reality. And when reality comes with a bunch of problems, they begin to remember that they are relatives / friends and they should have other relations with them, and not honest partnerships, where it is customary to share profits and losses within the framework of pre-adopted agreements. It has always been difficult for many, if not most, to do business with loved ones. But for this there is a rule about which I described: an agreement where all the main points and situations are described, and sealed with bilateral rights and RESPONSIBILITIES!