The thought of starting a business can be daunting. But what about starting a business with your best friend? I get it. Some of you may think that sounds like a terrible idea because, you know, what happens if you argue? Or if your friendship is ruined by business troubles? But, depending on the circumstances, starting a business with your best friend can actually be one of the most rewarding experiences you have.
Trust, trust, trust!
Make sure your best friend is someone you know you can trust unequivocally. You have to be confident in your partner’s intentions and trust they align with yours.
Keep open communication when you’re starting a business with your best friend.
Continual, open, honest communication is critical.
Communication is the key to every relationship. If there is a conflict or difference in opinion, talk it out and don’t take it personally – at the end of the day, you and your business partner should both want the same thing, it’s just a matter of getting there! Don’t simmer on any issues – bring them forth with maturity and mutual respect.
Respect each other
Speaking of respect – it’s one of the pivotal aspects of success! It may sound simple, and you’re probably thinking “of course I respect my best friend!” – but it’s not just simple baseline respect. When you walk into work every day, leave your personal issues, even if your best friend is usually your go-to for venting, at the door.
Balance out your strengths and weaknesses
Understand that each of you have individual strengths and weaknesses and use them to balance one another out. We know we are extremely lucky to have this collaboration and work consciously at it every day. We’ve both had different professional experiences and we come from different backgrounds, but the quality of our work is always our number one priority.
Don’t hold grudges when you’re starting a business with your best friend
If you catch yourself feeling frustrated with your business partner, talk it out! Since your partner is also your best friend, don’t be afraid to say what’s on your mind.
Nobody’s perfect, and when there’s a business on the line, it can be easier for frustrations with your BFF to arise. When something goes wrong, lean on one another and work through it together! Don’t play a blame game. Mistakes happen to everyone–we work to ensure the energy in our practice is full of tolerance, acceptance and love. No room for grudges here!
Honesty is the best policy, both in friendship and in a business partnership. It goes far deeper than just not lying to your partner – it’s important to be honest about your visions, plans and ideas as well. If you find yourself losing the ability to speak honestly with your partner about how you’re feeling, then it’s crucial to reflect to figure out why.
Is there a sense of judgment? Or a lack of equality in the relationship? Identify the reason for your hesitancy and talk it out. Make sure you are tactful in your approach, but also understand that it’s human nature to not always agree on everything.