Founding with friends, yay or nay? π€
Bren Kinfa π SaaS Gems
43 replies
I've heard mixed reviews about this.
Do you think founding a business with friends is a fantastic idea or an obvious road to troubles and conflict later on?
What do you think?
Replies
Daxeel Soni@daxeelsoni
Token Around
My experience (founded with friend)
If starting company with friends, be clear about these things from day 0
- Role & responsibility
- Commitment (how much time willing to spend)
- Finance (Revenue sharing, investment etc.)
If friends can find a company together and everything is clear, nothing is better than this combo. Because you know each other really well, there is no trust issue and the above points are clear from the beginning.
The best thing can ever happen.
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Lancepilot
@daxeelsoni Absolutely spot on! Transparency is the glue that keeps the entrepreneurial dream team together. Starting with a clear playbook ensures everyone's on the same page, turning your venture into a harmonious symphony of skills and camaraderie.
The friend test: Your idea should be so good that a stranger will join you on your mission. Friends join anything π
You have to decide; friend or colleague. If friend, then you end up making poor decisions for sake of friendship. If colleague, then friendship take a backseat
Lancepilot
@thedfigroup Finding that delicate balance between friendship and professionalism is indeed a high-wire act. It's like walking a tightrope, but with the right synergy, you can create a performance worth applauding.
I have been building a startup with a school friend of mine.
We are both 27 years old now, marking 12 years of friendship. Here are my thoughts and experiences on building a startup with a childhood friend, who happens to be quite the nerd :)
When I was a child, I often wondered what my friends and I would become in the future. We used to mimic and imagine our future careers during our playful times.
Now, imagine living out those childhood dreams. Starting a startup with a friend can be an incredible experience, watching each other grow, and launching a business together, reminiscent of the days spent playing in the playground.
The 'playgrounds' of our lives change over time. Initially, our playground was the field where we played cricket. Then, it evolved into the computer, where the internet inspired us to build something new. In college, we transformed from boys to men, laying the groundwork for our future endeavors. Now, as we start earning and recognizing our talents, I realize how fortunate I am to have my genius friend by my side. Together, we can build an empire, a testament to our surreal and enduring bond.
However, it's essential to understand that the relationship between founders who are friends must be mature and sincere. Every day, we must work with the same motivation that we had as children going to the playground, supporting each other to succeed, whether in sports or in business, and maintaining mutual respect.
In conclusion, I believe that long-term friendships are worth investing in, especially in a startup context. Such relationships have already endured ups and downs, forming a strong bond that is crucial in co-founding a business.
Lancepilot
@iamarnob6543 What a journey, both in friendship and entrepreneurship! It's like you've turned your childhood dreams into a reality together.
Well, I saw a similar discussion today on X. I think co-founder relationship is really like marriage. If you can't confront each other, discuss through problems, find common ground, the company sinks. The OpenAI saga did teach us a bit about that. Friends are great to have as cofounders but there will be rough patches to deal with.
SaaS AI Tools
@simpledocs Agreed! There WILL be problems and conflicts - just like in any marriage. How you resolve those conflicts with that other person can either break or build the relationship, IMO.
Lancepilot
@simpledocs Absolutely! Co-founder dynamics are like the tango of business intricate, with a few unexpected dips. It's all about finding the rhythm and dancing through the challenges.
Huudle AI Project Assistant
yay :)
I am doing my business with my best friend, my brother and we have great chemistry!
Lancepilot
@tornike_tsiramua1 That's the dream team right there! Best friends and brothers bringing both camaraderie and collaboration to the business table. Cheers to the dynamic trio creating magic together!
i dont need any friend
Depends upon what kind of nature do they possess?
Lancepilot
Astro Typers
The answer is: It depends. Sometimes it works really well but other times it can be a disaster. Choose wisely as it can destroy a friendship.
I've had success with starting a few businesses with my friend. Its like a marriage but we both are aligned with the long term goal. We're both hard workers and both see eye to eye on a lot of things. This has been quite beneficial in skyrocketing and building our brand. 2 head are better than one!
SaaS AI Tools
@skillprepare 100% with you on that. I love it being compared to marriage. Sometimes you gotta "date" your potential founder, test the waters, the vibe, etc., and really see if there's a good fit being going long-term with them.
Lancepilot
@skillprepare Absolutely! It's like crafting a duo masterpiece where both brushes add their unique strokes to the canvas. A successful friendship-turned-business is a symphony of shared goals and mutual respect. Cheers to your dynamic duo! π€
I think if I trust him/her so much, I prefer to invest my money to his company but I do not want highly involved.
I think we should do business alone
If you want to lose a friend, then this is a really cool idea. I would never start a business with a friend or relative. Sooner or later, you will have a fight. But maybe this isn't a rule and is simply explained by my negative experience.
With really close friends, I don't its a smart idea. The best option, in my opinion, is someone who is enough of a friend so you understand their character and history, and that, at the same time, complements your personality and abilities.
Lancepilot
It's like embarking on a startup adventure with a crew of fellow pirates, thrilling, full of camaraderie, and occasionally, you might have to navigate some stormy seas together. It's all about the balance in the treasure hunt! π΄ββ οΈπ°
@brenkinfa , I would suggest not to go for it,as the business world is not what we envision in the beginning.
A lot of cones of founding with friends / relatives ... however, where else we can find co-founders? :)