It's no less than the privilege and fortune that I had a chance to start a business with my childhood friend. At every point in life, we all have thought about starting a business that defines our passion, and this is what Raj and I did when we opened 'Farmse'.
Whether it's your childhood friend, family member, or any acquaintance, you should always take care of a few things while running a business:
- Everything should be documented: You never know when and how any situation can arrive and lead to dire circumstances. Roles, responsibilities, posts, everything should be on paper, and you should not delay the process. You must divide all the tasks among yourselves, but the decision should always be mutual.
- Different skills: Always consider opening a business with someone who compliments your skills and leads to diversification and various skills. It can also lead to an increase in networking as the founders will have a different audience reach.
- Prioritize your friendship: You should learn to sacrifice and put yourself in someone's shoes. If your friend cannot commit, you must give them some time instead of making tough decisions and remember you are fortunate to have the support, as running the business solo is not anyone's cup of tea.
- Lastly, always remember the person with whom you started the business; prioritise it over everything, as they are the reason you decided to set up the business in the first place.