There is NO Friendship In Business?
Johnny Nash
??Top 1% Global Headhunter & Matchmaker ??UK/USA & EMEA Markets??(Top 1% Hiring) ?? Recruitment & Careers SME??Leading Accountability & Careers Coach??Forbes Featured ??Content Creator ?? Author ??3K + Candidates Placed
Generally, there is no friendship in business, but there can be exceptions to that rule.
My character is one where I would love to do business with friends, nothing more. I have always valued loyalty, the strength of relationships, togetherness, and sharing the same values. I have been best friends for over 35 years. Nevertheless, I have realized that as I have got older and wiser unless your business relationship is written down, the stakes and the contributions are agreed to in advance with potential exit plans, it can become complicated and messy.
A friendship's continuity depends on whether both parties are still committed to working together. There is give and take, being there for one another, and compromise, which only involves friends.
Business decisions should be based on what is best for the company. Business partners, or friends within the business, are separate entities. Third parties are involved in the decisions made about the business. When a friend/business partner fails to deliver what was expected of him/her, this becomes an issue.
Everyone should be treated with respect and consideration. Keeping grounded and treating people as you would like to be treated will help you build friendships and grow your business. By doing so, you are establishing yourself, your reputation, and your character. If you appear stiff and aloof, you will be viewed with skepticism and mistrust.?
When we buy from people we respect and trust, we tend to do business with them.
You won't get the same results from building a friendship compared to a substantial business relationship.
Friendships in business aren't necessary, but being friendly is. It's important to understand that. It is possible to have a valuable business relationship without being friends.
Some believe that the first step to building a business relationship is to develop a friendship.
It takes time for friendships and business relationships to develop and flourish. A business relationship remains focused on business, and your sales results reflect that. We need to be friendly, of course. Our goal should be to be welcoming, sociable, open, and pleasant to everyone. Building a valuable business relationship that is based on business needs is usually the first requirement.
Friendships can be ruined by business. There is a big difference between being friends with someone and building something together. Even as a business partner, working side by side can lead to conflicts.
You will eventually hit a point where you will lock horns, this can be about the direction of the companies, the monies involved in what you both take out and what you both put in and budgets.
The more money at stake, the greater the emotions involved. Whether we like it or not, money changes people. They can get protective and become bitter, even in some cases vengeful. The courts are filled with cases of bad business partnerships, and money often trumps friendship.
In addition, the question of how much each party is contributing and performing is also relevant. It may be that one party feels undervalued or believes they are doing more than the other. The person may feel they are doing more than the other person and feel frustrated because of that, or they want more control and there are control tensions at work. What do you say to your friend when they aren't performing, or don't have what it takes and the business relationship must end?
The saying goes: “It's good to have friends in business, but don't go into business with your friends.” At least not if you really care about your friends.”
Professional life is all about achieving goals and making money, while personal life is all about emotions.
Emotional bonding can become a barrier sometimes which may create an impact while making important decisions
It may be good for business, but it may affect your friendship, and vice versa.
Friendship Does Not Mean A Successful Business Partnership:
Money, power dynamics, and the strains of business can all impact your relationship if you start a business with a friend or family member.
1. Family and friends rarely prepare for worst-case scenarios
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2. Clarity failing on positions:
Almost all friendships form during school days, university days, around mutual hobbies, introductions, or even at work. As a result, there are no predetermined positions. However, this cannot be said of business partnerships, which are forged by choice and constructed with specific roles and responsibilities.
3. Aligning the different business goals between you.
Your motivation/drivers for starting a business are likely different from those of a friend or family member.
4. There is a higher failure rate
An estimated 50% of small businesses fail within their first 24 months of operation, according to industry statistics and successful entrepreneur Theo Paphitis.?
5. Family and friends can complicate finances.
An old adage suggests that you should never lend money to friends or family members, and the same principle applies to starting a business.
6 Substantial Financial Burdens:
In the beginning of a business, sharing and pooling financial resources can seem attractive and helpful.
There are times when people aren't fully aware of the costs of starting a business and not receiving a regular salary from a job. It is natural to share this financial burden with a trusted partner who can also add strength, experience, and leadership.
When starting a business with an immediate family member, you will likely need to draw upon funds from a more restricted source and place a greater strain on your finances.
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It is true that there is no friendship in business but I highly commend that you ( people ) do business with friends only if possible. Thus you at least will be served a healthy and decent meal that will minimize the risk of having a stomach upset.
Founder | Business & Commercial Advisor | Quantum Commerce Marketing Innovator | Ego-less Leadership Advocate |
4 个月I think it depends on cultural background and generation. Older generations might say yes there is friendship at work but quite frankly this post-post pandemic world calls for no illusions and establish clear boundaries in both private and public life
Behaving towards other people like we would like them to behave towards us is common mistake. We should behave towards others according to their personality profile. It is also called natural way of selling.