Is it smart to start a business with a friend? We’ve all heard the horror stories of great businesses utterly collapsing because the founders were good friends and Palestine Email List the relationship turned sour. It’s natural. It can be incredibly stressful launching a new business, especially if you’re starting it while keeping your day job. In business, things often get complicated. Difficult, impersonal decisions constantly need to be made in the name of creating the best future for the company.
Want The Really Good Stuff?
Many entrepreneurs that start a business with a friend wind up with broken finances and ruined friendships—it doesn’t take reading through many of the best business books or taking online business courses to see that common trend. In fact, if you hedge your business Palestine Email List decisions on the wisdom of statistics alone, stoically ignoring your friend’s frantic excitement about “this cool business idea” seems to be the safest route. If you’re still looking for that right business opportunity, check out my detailed break down of the 101 best business ideas.
Should You Start A Business With A Friend?
Heartless, yes, but a Harvard Business School study showed that among technology founders, the group that is made up of friends proved to be the most unstable, with a founder turnover rate of nearly 30%. Businesses started between friends prove to be the most unstable.”Palestine Email List Surprisingly, the group composed of total strangers fared better. Add to that the even gloomier 9-out-of-10 failure rate of startups in general, and you’d begin to wonder why on earth you would even consider starting a business with a friend.