Why A Best Friend Business Partner Is Bad For You
Save yourself from this mistake (I made it once). Trust me.
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Why You Shouldn’t Be in Business with Friends (and How to Politely Say No)
Starting a business is an exciting, challenging, and deeply personal endeavor. It’s tempting to think that partnering with a friend could make the journey smoother and more enjoyable. After all, who wouldn’t want to work with someone they already trust and enjoy spending time with? But before diving into a business venture with a friend, it’s important to consider the potential risks and complications that could arise—both professionally and personally.
The Risks of Mixing Friendship and Business
Blurred Boundaries Business relationships require clear roles, responsibilities, and expectations. When you’re working with a friend, it can be harder to enforce boundaries. Conversations about performance, money, or disagreements can quickly turn personal, straining your friendship. Trust me when I say THESE ARE NOT CONVOS YOU WANT TO HAVE WITH YOUR BESTIE. You want to your personal lives and relationships with each other to stay personal. Imagine if one day you had to fire your best friend? It happens all the time. Don’t go into business with them. DON’T DO IT!!!!
Unequal Contributions In any business partnership, there’s a risk that one person may contribute more time, money, or effort than the other. With friends, addressing this imbalance can feel awkward or lead to resentment. I’ve seen tons of friendships end over imbalances within their business.
Conflict Resolution Challenges Every business faces conflicts, whether over strategy, finances, or day-to-day decisions. Resolving these conflicts professionally can be harder when emotions and personal history are involved. None of us are GREAT at conflict resolution. It’s already tough to have tough convos. Mixing a hard business conversation with friendship is … really UP THERE on the toughness meter.
Friendship Fallout If the business fails—or even if it succeeds but with significant challenges—the friendship may not survive. The stakes are higher when both your professional and personal lives are tied together.
How to Politely Decline a Friend’s Business Proposal
If a friend approaches you about starting a business together and you’ve decided it’s not the right fit, it’s important to be honest while preserving your friendship. Here’s a way to navigate that conversation, and if they still press you - you can share this course lesson with them. Sometimes it’s easier coming from a neutral third party (me).
1. Acknowledge Their Idea
Start by recognizing the value of their idea and their trust in you. For example:
"Thank you for thinking of me for this. It means a lot that you see me as someone you’d want to work with on something so important."
2. Express Your Concerns
Be honest about why you’re hesitant, framing it in a way that shows you’ve thought carefully about your decision:
"I’ve been giving this a lot of thought, and while I believe in your vision, I’m not sure going into business together is the right decision for us. I really value our friendship, and I’ve seen how mixing business and personal relationships can sometimes complicate things."
3. Offer Support in Other Ways
Show that you still care about their success and want to help them in a different capacity:
"I’m happy to help you brainstorm, connect you with resources, or give you feedback along the way. I think you’re onto something great, and I’d love to support you however I can."
4. Reaffirm the Friendship
End the conversation by emphasizing how much the friendship means to you:
"At the end of the day, our friendship is so important to me, and I want to make sure that stays strong no matter what."
Final Thoughts
Saying no to a friend can be tough, especially when it’s about something as significant as a business venture. But being honest and thoughtful in your response can help protect your friendship while ensuring you’re staying true to your professional boundaries and goals. Starting a business is challenging enough on its own; doing it with a friend adds layers of complexity that might not be worth the risk. By politely declining, you’re making a choice that benefits both of you in the long run.