T Nation

Going Into Business with a Best Friend?

I once lent a friend $600 on the assumption that he’d repay me $900 in 2 months. I didn’t see the money for a year, and it put a serious strain on our friendship.

He gave me a sales pitch for a business, I helped him out on the assumption that I would be repaid ON TIME and in full. Didn’t happen and definitely led to some awkward phone calls.

Still friends to this day, however.

I’ll never lend money to a friend again. Give money, yeah, but not lend.

DON"T do it. Friends and business usually doesn’t work. Someone always feels they are doing more, paid less, etc. Friendship or business, not both. And I speak from experience. Was in business with family for years. It is hard to separate the 2.

[quote]hardgnr wrote:

Set some ground rules. Such as what to do when you disagree on a descision.

Knife fight.

[quote]thaiclinch wrote:
Do NOT go into business with friends and/or family…It will ruin everything!
Speaking from experience 2 times. [/quote]