In this article, you will learn about the mistakes people make when entering a business partnership and what steps you should take to avoid the consequences of these mistakes.
It's no secret that the main test that friendship is subjected to is the test of money. Want to check it out? Borrow a tidy sum from a friend and do not give it away. You will see how soon your relationship will crack. By repaying the debt, you can correct the situation. Perhaps over time, mutual affection will return and everything will continue as before.
But if friends decide to become partners in business, their relationship is at great risk. The gap reaches universal proportions, former friends become fierce enemies, and mutual hatred is passed on to future generations.
If we are talking about large-scale business, then in the fight against former friends, people use any means, from public slander to crime. Former partners in a small business are mostly limited to small "dirty tricks".
Meanwhile, there are many successful examples of combining friendship and business. Partners are able to negotiate, constructively resolve all contradictions, work effectively, creating strong and mutually beneficial relationships.
Why not everyone succeeds?
Reflecting on this topic, I have highlighted a number of mistakes that people make when partnering with friends. I will emphasize in advance that this article does not pretend to be scientific, I will not rely in it on psychological and socio - economic theories, but I will tell only examples from practice.
So, 7 mistakes in choosing a business partner and interacting with him.
Mistake No. 1. Do not analyze the behavior of a friend (future partner) in relation to third parties.
If you communicate with a friend closely enough, then you can not help but know if he is decent, honest, ethical and trustworthy. Think, remember, does your friend keep his word, does he timely fulfill his obligations, is he respected in society? Does it take responsibility?
Collecting this information is extremely necessary if you do not want to check all this "on your own skin."
Mistake number 2, which directly follows from the previous one.
Thinking that a friend's dishonest and unethical behavior towards third parties will not apply to you.
This is a huge misconception. If your friend stole at his previous jobs, deceived and "substituted" colleagues, demonstrated self-centeredness, acted exclusively in his own interests - believe me, he will behave in the same way in your joint business. Maybe not right away, but with time - it is a must!
Mistake # 3. Not taking into account the psychological characteristics and habits of your partner.
Many scientific works have been written about the psychological incompatibility of people, I will not retell them here. I will only note that the features and shortcomings of people, which only amuse you in episodic communication, become intolerable with constant interaction.
For example, visiting a friend, you see that he is not a fan of cleanliness and order. “This is his business. But he is a good man”! - you think.
But when your friend becomes a business partner and brings his habits into the general office, your attitude towards them changes. Irritation builds up from month to month, and at some point the sight of another unwashed mug, a tea bag thrown directly on documents, traces of dirty shoes on the floor simply "blow up" you.
Another example: you are a logical person with developed strategic thinking, you are able to calculate the situation several steps ahead. Basically, you live "at the behest of the neocortis." Your friend and partner is an emotional person, living "according to the mood" that he regularly throws out on you, prone to panic and fuss for any reason.
It is very difficult for such people to interact in the same business, and this is not the case when opposites complement each other. What is good in friendships is not acceptable in business. You will not be able to constantly share the violent emotions of your partner, and he is not able to evaluate the chain of your reasoning and see the prospects of the situation that has arisen.
Communication and teamwork must be constructive and comfortable for both parties, otherwise the partnership is doomed to failure.
Mistake number 4. Not identifying the goals and values of a friend - partner at the start of your joint business.
For example, your goal is to help people solve their problems through your products and services, create a strong company brand, good reputation, respect from clients, colleagues, and the business community. You are in the mood for long-term money.
And your friend's goal is to "scam" people, to make big profits here and now by deceiving customers, suppliers and everyone with whom you have to contact in business. You want to achieve high quality product and service, and your partner wants to “hit the big jackpot” by any means, including by ignoring business debts.
In my practice, there were such cases: businessmen for years do not pay off accounts receivable to suppliers, while they find funds to buy expensive cars and rest in prestigious foreign resorts. I don't think it surprised anyone, you all know such people. But can you work with them in the same business?
Mistake No. 5. Failure to draw up appropriate documents regulating the distribution of costs and profits between partners and the division of property in the event of a withdrawal from the partnership.
For some types of legal entities, such regulations are mandatory, they are created in the manner prescribed by law. But sometimes the partnership is informal, when one of the participants is registered as an individual entrepreneur, and the other contributes his money and helps to run the business.
This kind of "prenuptial agreement" is necessary even in cases when your relationship with a friend-partner is close to ideal. Your views on business development may change, irreparable contradictions may arise - there are many reasons for "divorce", and you should prepare for it in advance.
Mistake No. 6. Not distributing the functionality of partners at the start of a new business.
One of the main reasons for the breakdown of a partnership is disputes over the labor costs of the parties. It seems to everyone that he works harder. Accordingly, you should get more profit. The second side, which is characteristic, does not agree with this.
In general, I noted the following pattern: many people tend to exaggerate the importance of their own work and underestimate the importance of the work of others. For example, production workers look at the work of managers with disdain, and they, in turn, respond with the same. Mutual claims begin, which cannot be resolved by banal rotation, the parties do not have enough competencies to do each other's work.
The clearly defined and documented functionality of the parties to some extent weaken the tension of this situation.
Mistake No. 7. Absence of the captain on the ship of the future business.
Equal partnership is a mistake that leads not only to stagnation, but also to the death of a business. When there is no main person making the final decision, partners can get bogged down in constant disputes over any issue, from strategy to minor everyday problems. Accordingly, it is necessary to determine who exactly will take the leadership position, fix it in the regulations and continue to be guided by it.
In summary, a successful partnership is possible if you take it seriously and think through every detail in advance. This is as important as the choice of a future life partner. Haste, euphoria from joint plans, unfounded trust in a friend - all this will inevitably lead you to the collapse of your business and other troubles.
And, of course, it's better to just communicate with friends, rather than work together.
