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Want to involve a friend in entrepreneurial startup but not sure

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  • #76820
    mimicus
    Participant

    I have this idea and a friend, both are really important to me. Let me take this one by one:

    The friend I have, I have known and been friends with him for over a decade now, so we have been friends for a really long time. While I have not shared a lot of my personal issues with him (which he asks me time and again to open up about), he has, and it has made our friendship stronger. So long story short, he really trusts me. But the problem is, I’m not sure about it. Whenever I have tried to do something with a friend in the past, I have messed up both the idea and the friendship to a point and it really scares me. He has the skills, the motivation and the passion to really make a difference but I’m not sure. Now I don’t know if it is the paranoia that comes from being in a “dark space” talking or what.

    The idea I have, I really see a future with it. I have the capital and I could easily hire someone do get the job done but I feel like I could use the support from a friend and it would help to keep me motivated. There is the selfish part where I feel like if I succeed, I could have all the success to myself and even if I fail, I wouldn’t have to answer anyone else.

    So what should I do? Get my friend involved or go solo?

    #76822
    Anonymous
    Guest

    Dear Mimicus:
    I have no business sense that I know about and if I did- I would need details about the business idea you mentioned. So on both ends I cannot give you my answer to your question. What I can give you is a question to offer you what I would have liked- a triggering quesion, perhaps, maybe, and that is: what does it take for you to trust a person in a personal relationship?

    You mentioned you did not share personal information with your friend even though he shared with you. Do you not trust him with your personal information? (If so, should you trust him with your money…)?
    anita

    #76845
    Jodi
    Participant

    I wish I had more positive advice to give you but I have been the part of 2 start up businesses with friends that got greedy and stole from me. I was the one with the ideas, the money, the business sense and the communication skills so when I decided to go for it, my friends (2 separate friends on 2 separate occasions), wanted to be a part of my endeavors. THe first endeavor was my husband’s business with his friend. My husband went to the bank one day and realized that the account had been emptied and his friend admitted to taking the money (because he claimed he needed it). THe business and the friendship (including the friendship with his wife and our children) tragically ended in our lawyers office. The second endeavor was mine…with someone I thought was my best friend always. She convinced me to lay out all of the money for the start-up costs and continued costs and promised she would pay me her share. SHe took all of the items for the business and put me out of several thousands of dollars. Needless to say, that is another lawsuit I didn’t want to be part of. I also had to unfortunately find out that a person I thought was my best friend was the ultimate betrayer. So…I started MY OWN business. Exactly the way I wanted and all of my friends support me and help me if needed but I am NOT in business with them. Start your business. Turn to your friend for support and encouragement but save your friendship and do not go into business together. You will end up happier for it.

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