Business is Business
Friends are Friends
Friends don’t always make the best business partners
To find a real friend, Start a business and seek help!
Two contradicting statements have created yet another tricky dilemma for the nascent entrepreneurs.
Out of habit, mostly all of us have discussed our early thoughts of starting a business with our friends. Seeking help from friends at the start seems lucrative. With easy and cheap workforce all ready to invest in your dreams.
However, the fact that many business ventures have ruined great friendships sounds daunting. Mixing friends with the business might leave you at a verge where you end up losing out on both.
So how does a cash strapped entrepreneur hire a friend so that both thrive? Let’s probe certain questions which bother:
Can I Hire Friends?
Starting a business from scratch is not less than a roller coaster journey. Wouldn’t you feel comfortable around people who know you, in and out and are willing to help you to accomplish your dreams?
That’s not all; they are supportive when you are a spree to preserve capital. They would work for hours without cribbing for short term incentives. They know your strengths and weaknesses and are ideal for adding value to your business relationships.
Friends do bring out the best in you!
It is a gamble, be mentally prepared for the risk.
However, if you end up competing with your friends, you need to learn how to manage friendship at work.
How Do I Manage Friends At Work?
Managing friends is something you will have to do from the very beginning, if you follow a specific process from the initial stage, it avoids miss-understandings. Talk openly, how would you deal with each other in the workplace.
Since you the owner, it’s up to you to maintain a casual or a formal business environment. In any case, there is one policy that will help you sail through smoothly is, ‘Meritocracy’. It signifies you treat everyone the alike at work.
• Create a transparent hiring mechanism, with the proper job description, interviews, etc.
• If you are prepared to hire your friends, don’t be afraid to fire them too. Set pre-defined criteria for firing, it should not be a surprise, for your friend.
• You should tell all your employees that the job titles and promotion will be purely on merit basis and not on connections.
Can I Offer A Job To A Friend In Need?
This is a tricky situation, we all have friends who are going through difficult situations. You can always help them by hiring them, as long as they fit into a legitimate role in your business. In case they don’t match the qualifications, look for a low-risk position, like book keeping or graphics, etc.
But once you help them enter let them grow with the their own capabilities. You need to stop spoon feeding them.
Moreover, there is no obligation to hire them. You can always extend some monetary support, to help them deal with tough situations.
Can I Avoid The Risk?
Some people want to maintain an arm’s distance from all the trouble and drama, and devote their full heart and soul in their dreams. You can do it, keep your friendship and business separate.
When power is induced in a voluntarily established, equality based relationship called friendship, it can be difficult for both the ends.
It’s a human tendency, when you hire your friends they assume there is an alliance and they expect special treatment. When such gratification is not fulfilled, they become resentful.
Choose your cards carefully; it’s just the beginning you have a long journey. You can end up creating history or an additional headache. Just remember your aim is not to build a friendship but your dreams.
About the Author,
Cs Nimisha Gupta
has an unleashed zest for everything creative. Is a budding writer, inspired from coffee beans to pen down, when the world sleeps. It's not about the destination rather the journey. #MusicBuff #Coffeeholic #ChocoManiac #Trailblazer.. Affiliated with QuickCompany which deals in Company Registration, Trademark registration,Trademark Public Search Trademark Public Search, MSME, Import -Export Code and Other Legal Activities.