Doing Business with a Friend

Doing_Business_with_a_Friend
Whether to give a friend a deal or engaging his services, or even going into a business together, there is bound to be a time when a decision has to be made. But before you enter into a professional relationship with a close one, consider these first.

Altering the Relationship

It is bad news to go into business with a friend just because you like him or her. Entering into a work relationship with a friend will potentially disrupt your friendship. For example, you may not be able to share your work woes or friction with a co-worker as before. Besides, seeing someone all the time, both at work and after, could be taxing. On the other hand, this may deepen your relationship though.

Make sure there's a Match

Be objective, and set aside the fact that he or she is a "nice person". A likable person may not produce work that you will definitely like. To make things worse, it would be extra difficult for you to break the news to them.

Instead, think if you would appreciate his or her work even if you weren't friends. If the answer is yes, then by all means go ahead. But if not, consider if you could compromise the quality to let your friend have the job without complaints or grudges.

Synchronise your Styles

Are you a detailed planner or a last minute rush worker? This is always a futile ground for friction whether friends or strangers. This and other differences such as expectations should be easily managed.

The Exit Plan

Can you terminate the relationship with no hard feelings if required? Easier said than done; friends may take it personally when the work relationship is broken off. So, if you intend to go into a professional arrangement after all, be sure to state expectations, roles and responsibilities in specific, measurable terms.

You might also like: Hiring 101 - Selecting "The One", Hiring 101' series – When to Hire? and Hiring 101' series – Who to Hire?

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