Co-founding with a friend

There is immense risk in starting a new business with a friend. Business does not work as per the friendship rules. In fact they both have a few similarities. Like friendship, start-ups don’t perform as per well maintained guidelines. But that’s where the problem lies. While in case of friendship, everything is okay, in case of start-up it can be disastrous.

Some start-ups have really worked with college friends, but many have not only failed, but also have created a rift between old friends.

When some people share a dream of start-ups, they actually have some small dreams combined together. While a few of those small dreams are the same, many are different. When the dream of two co-founders are different, a crack is inevitable.

A small example, an entrepreneur once decided to start an ice-cream parlor with his close friend. All planning were up to date. But the problem started the day they thought about a vision. They did not share the same vision.

The entrepreneur wanted to grow steadily and expand. The co-founder wanted to open the store just to earn money. He did not have any long term plan. And he was also going slow with everything. The guy with a vision suddenly felt that things were not going as expected.

This created a tension between them and the partnership started fading out. A few days into the business and they had to shut down their shutter.

This difference in vision can seriously end the course of a business and close it down all of a sudden. It’s better to analyse the visions of each co-founder and then decide whether to go for partnership with the person or not. Sometimes, two not-so-close friends or just mates can share the same vision and excel in their vision.

As 90% of start-ups fail to do business and close down, it’s better to be partners with people who can bear the pain of failure. A businessman creates a business, but a visionary creates a vision. A person without any vision can quit any day and that might cause more problems.

Start-ups come and go, but it’s the friendship which we cherish all our life. Starting with friends and failing can seriously damage the friendship. A failed entrepreneur can any day create a new plan. But creating a new friendship out of nothing is impossible. So, it’s better to start a business with a visionary who has the courage to survive the pain of failure.

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About Abhisek

Creative Writer, Blogger, Traveler, Finance Professional
This entry was posted in business, Entrepreneurship and tagged , . Bookmark the permalink.

2 Responses to Co-founding with a friend

  1. Brandon T says:

    Great post, it was an interesting read. I agree, starting a business with a close friend or family could lead to a bad relationships. It could all be prevented if they created a proper business plan from the start and they created a vision TOGETHER. They then would have both known what the plan was. That gives both founders an idea of where their partner wants, and if everyone is on the same page.

    Liked by 1 person

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