What if you went into business with your best friend and the business failed?
Tuesday, October 5, 2021
Friendly Business
15 comments:
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If it was my real best friend, then my wife and I would both be in the same boat.
ReplyDeleteAnd that wouldn't be a good thing.
DeleteIn regards to the friendship? I guess that depends on if it was just the wrong business at the wrong time, or something one of us did to cause the failure. Hopefully there was no "I told you we should have..." afterwards though. I would guess friendships might not survive, as people have a tendency to blame others. It's easier that way!
ReplyDeleteI did not specify, so whatever part of the question you wish to tackle is cool.
DeleteIt'd suck if the business failed. As long my best friend didn't cause the business to fail (and I didn't), I think we'd both shake hands and move on. Down the road, we may even figure out what went wrong and how to prevent it from happening again if we decided to start up another business together.
ReplyDeleteSounds like a very mature outlook.
DeleteI think it would be frustrating but I'd hope friendship wouldn't be impacted by it! After all not every business idea will be a sucess!
ReplyDeleteHope your week is going well :)
Away From The Blue
No, not every business is a success.
DeleteIt might hurt the friendship unless it was a super strong one.
ReplyDeleteWell I would have to blame the friend, I guess...haha.. Nope, I pretty much know that I would never go into business with a friend or family. Things don't work, then there is usually hard feelings.
ReplyDeleteThere can be.
DeleteHopefully, the mutual understanding will help us cushion the shock, learn lessons from the failure, and tread a new path forward.
ReplyDeleteI believe it unwise to go into business with a friend. The same goes for lending money. A friend I've known for at least forty years (!) once asked to borrow $5000 (USD) and I said 'no'. If I'd had the finances to make it a gift, that might have been a different story. Even sadder than denying her was the fact I knew it would likely be a bad investment. That happened over a decade ago and I still feel sure I made the right decision.
ReplyDeleteMoney can end a friendship, that's for sure. The only time I was ever asked to lend $5000, it was a scam. (I didn't.)
DeleteI have seen this way too many times over the years as a Credit Counsellor and it usually destroys the friendship. I am not talking husband and wife but just friends. It normally ended bitterly with one leaving before the ship sank and the other going down with the ship. It usually is a bad idea.
ReplyDelete