Mixing business with pleasure can be a fine balance & many people won’t shy away from telling you it’s a terrible idea. And sometimes…they’re right. Not always, just sometimes. In fact, I think you’ll be just as surprised as I was to learn the names of some huuugggge companies that began with a beautiful friendship...
Ben & Jerry’s
The much-loved ice-cream company was the baby of two best mates who bonded over being the chubbiest kids in gym class. Well, they had the last laugh. In 2000, they sold their company for $326 million!
Sass & Bide
The Sydney based fashion designers Heidi and Sarah-Jane began their label in 1999 and have now made the decision to leave (this month, actually!). In 2011, they sold 65% of the brand to Myer for over $42 million!
Three friends founded this mammoth company that is now ingrained in everyday life. The third friend, however, made an expensive mistake by backing out of the company on the 12th day, selling his shares for $800. Whoops.
The remaining friends, Steve Jobs & Steve Wozniak continued. Just last year, Apple posted revenue of $157 billion. I’m still feeling sorry for the guy who left after 12 days, so much regret…
Info found: http://goo.gl/Uj4An6
When you go into business with a friend, it’s important to realise that it won’t be a part time job. The friendship will become full time as will the business.
So if you’re considering entering into a business deal with a friend, there are many things to consider. Here are a quick 3 things to take into mind before even considering venturing into this relationship:
- I do
Business is said to be like a marriage. You will be spending all your time with this person. Will you be able to make it through sickness and health? There will be ups and downs along the way, make sure it’s someone who you are able to go through these turmoil’s with.
- Complement Each Other
This isn’t an “I’m being serious, that pant suit looks really great on you”. You should have skills and assets that differ from each other and will complement you both as partners. If one person is lacking in a major asset such as sales, then the other should be able to make up for it.
- Sharing is Caring
You need to share the same goals and opinions in order to achieve them.