Friends as Business Partners…………… good idea or bad?

December 30th, 2018

Friends as Business Partners……good idea or bad?

Two friends sit catching-up over coffee. Both have grown tired of the jobs they had been going to every day for the past 12 years.
“When we graduated from high school did you ever think that we would be working for others when we were 34?” asks Sarah
“Not a chance,“ replies Eddie. “Time has just passed by and now I feel a bit trapped. How have we let this happen to us?”
“You’re so right Eddie. Why have we never acted on all of the great business ideas we’ve had?” asks a dejected Sarah.
Eddie, emboldened at seeing his lifelong friend and next-door neighbor, so dejected pounds his fist on the table and says, “Let’s do something about this. Let’s dust off our old ideas and see if we can come up with something. You are my oldest and most trusted friend, and I know we would be great business partners.”
Sarah smiles, stands up from the table and says, “Let’s get on with doing what we want to do, be our own bosses and make some real money.”
Eddie replies, “This will be great. We can work our own hours, take vacations when we want, and have no limit to what we can make each year.”
After a hearty high five and a hug, they set a meeting for the following weekend.

Does this sound like a story you have heard before? Does it sound like a dream you have had? Being your own boss, working with friends or family? Setting up your own office, one where you avoid the rat race of the commute to the centre of town each day?

My experience tells me that either you have had these dreams or you know someone who has. You or they have used personal savings or investment money from family or friends, and set out to make it big, or at least to succeed, in the world of start-ups.
In a perfect world the story for Eddie and Sarah would be a happy one. They would grow successful, make more money than they had working for others, take time off when they needed it, and eventually have a staff of competent and happy workers. Reality is not so kind however, and the statistics are overwhelmingly stacked against that being the story’s conclusion.

However, the end of Eddie and Sarah’s story has not been written. In a future blog , “The Entrepreneur’s Guide to Happiness…or Not”, I will examine two paths, one that ends well and the other… not so much. Along the way, I will outline in detail the steps that lead to failure and the alternative actions that can determine success. These are the lessons you will learn in more detail in my Go1 for Start-Ups™ program.

Group of One Executive Training Systems Inc. is a Calgary Alberta based business training and coaching consultancy. Our Go1™ series of training programs are crafted from 35 years of unique and successful business experience. We combine that knowledge with the expertise of world renowned thought leaders and our very own Affiliate Board who collectively have well over a century of corporate leadership and success.
If you are at the start-up, sales-up or scale-up stage in your business, or you are a sales professional, we have programs that can guide you to successful and profitable outcomes.

Please email us at rmoore@groupofone.ca for more information or call 403-612-0232