Would My Best Friend Make a Good Business Partner ??? Well, Does He Eat Doritos in a Sleeping Bag?

Would my best friend make a good business partner?

Maybe.

But first...

Does he eat Doritos in a sleeping bag?

Years ago my best friend James and I finally planned a camping trip.

We'd been friends forever.

The kind of friends who were practically attached at the hip.

I figured if anyone was easy to camp with...

...it'd be James.

Night falls.

We're zipped into our sleeping bags.

Everything's quiet.

Then...

Crunch.

Crunch.

Crunch.

Inside the tent.

Inside his sleeping bag.

He's eating Doritos.

Like it was perfectly normal.

At two o'clock in the morning I wasn't questioning our friendship.

I was questioning every life decision that had led me into that tent.

Here's the funny thing.

That camping trip taught me something I didn't appreciate until years later.

A great friend...

doesn't automatically become a great business partner.

Those are two completely different relationships.

Friendship Is Built on Fun

Business Is Built on Pressure

Your best friend might be amazing.

They might also avoid uncomfortable conversations.

Miss deadlines.

Freeze under stress.

Spend money differently than you do.

Business has a funny way of amplifying little personality traits you never noticed before.

Camping did the same thing.

Doritos included.

Stress Is the Best Interview You'll Ever Get

Want to know if someone could become a business partner?

Don't interview them.

Travel with them.

Build IKEA furniture together.

Go camping.

Take a long road trip.

See how they react when plans fall apart.

Business rarely tests people when everything is going well.

It tests them when nothing is.

The Five Conversations Every Future Business Partner Should Have

Before a logo.

Before a website.

Before opening a bank account.

Sit down and answer these questions.

What does success actually look like?

Five years from now...

Describe the business.

Individually.

Then compare answers.

You'd be amazed how often they're completely different.

Why are we doing this?

Freedom?

Money?

Legacy?

Lifestyle?

Those answers matter more than your business name.

What happens when one person wants out?

Nobody likes this conversation.

Everyone needs it.

What happens if the business suddenly becomes successful?

Success changes people too.

Talk about it now.

What happens when we completely disagree?

Because eventually...

You will.

Your Customers Don't Care Who Owns the Business

They care that:

You answer the phone.

Show up.

Do great work.

Fix mistakes.

Make their lives easier.

That's what builds businesses.

Ownership agreements simply help protect them.

Takeaway

James is still one of my closest friends.

I'd trust him with my family.

I'd trust him with my kids.

Would I automatically start a business with him?

That's a completely different question.

Friendship is built on shared memories.

Business is built on shared values.

Sometimes they're the same.

Sometimes...

They're about as compatible as Doritos...

...and a sleeping bag.

To sum it all up..

If you're thinking about starting a service business with a friend, don't just ask whether they're someone you enjoy spending time with.

Ask whether they're someone you can build something with.

Those are two very different questions.

And when you're ready to build it...

We'll be here.