Business with friends, how to hedge against mistakes?

November 13, 2022 0

Business with friends, how to hedge against mistakes

Do you decided to implement your startup or implement a brilliant business idea; for this you decided to attract your relatives or friends?

As you know, business can destroy friendships or the business itself. Let’s see what steps to take to minimize the risks:

  • assign roles. Everyone in the team must understand its functionality and area of responsibility.
  • trust but check! The golden rule that should not be ignored when signing documents.
  • remove emotions, at work you are colleagues and partners, not friends.
  • agree on the distribution of profits in advance.