The latest Carry on Friends Podcast Episode 17 is all about working with friends! You often hear “Never go into business with friends” quote, but there are certainly advantages and disadvantages. Kerry and I explore 5 things to think about when going into business/working with friends:
1. What’s the personal dynamic?
2. Collaboration vs. Employment? Put it in writing!
3. Partner up to balance out strengths and weaknesses.
4. How do you separate work from non work?
5. How to cut ties – business or friendship?
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Mikelah
Mikelah is a Caribbean Culture expert, curating the bridge between the Caribbean and its diaspora. A CUNY Baruch College graduate with a BBA in Marketing. With previous experience with Caribbean lifestyle brands such as VP Records, Tempo TV and JAMROCK Magazine. Currently serving as a digital marketing maven by day, while continuing to collaborate with Caribbean brands.
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SOOOOO necessary! People don’t realize how hard it is to effectively run a business with friends. Particularly that collaboration vs. employment aspect and the strengths and weaknesses part. You have to make sure that you and your friend are each individually using your best assets to further the business, not just saying “it’s MY company so I want this title and I want to control what I want”. This is what stops me from doing business with friends.
Yes!!! It’s much harder to work with friends because there are so many layers. Do what’s right for your business goals! Thanks for listening!