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We are back with our weekly updates from our in house agony aunt ‘Aunty Fabulous’ and hear some of the questions she has been asked, it was a great to hear how, ‘Aunty Fabulous’ tackled these obstacles.
QUESTION: We tend to find there are a lot of young females branching out setting up their own businesses and joining forces with their friends. A few readers have mentioned they can have disagreements which can lead to conflict in the workplace and even their personal friendship being affected. They did start off as friends and have now fallen out over business, how would you best advise to resolve this?
Aunty Fabulous Says:
Compromise can be key when setting up a new business with friends. It also plays a huge role in all relationships.
Avoid confrontations by keeping the communication channels open.
Working with friends is very different from having fun socially and discussing our day-to-day lives.
Arrange to meet up with your friend if you have fallen out with him/her. It’s important to talk through what has happened so you can hopefully resolve your differences and have a happy outcome.
AUNTY FABULOUS TIP:
If you have a good friend in common then I would suggest having him/her mediate for you both. Listen to what each other has to say and remember how important your friendship is.
If you value your friendship before going into business together then find a way to move forward again as friends
REMEMBER THE GOOD TIMES
REMEMBER THE LAUGHS YOU HAVE HAD
REMEMBER WHY YOU BECAME FRIENDS TO BEGIN WITH
Think carefully before spending time and money setting up a business with a friend or group of friends.
AUNTY FABULOUS AREAS TO CONSIDER WHEN STARTING A BUSINESS WITH A FRIEND:
· Ask yourself and each other what it is you want from this business.
· Do you both have a particular role to play?
· Establish the ground rules first.
· If one of you are in charge of marketing the other may be in charge of sales.
· Focus on your area of expertise and avoid interfering with each others daily tasks
· Have a meeting every week to include going through your agendas for each week, progress you have made the previous week, challenges, prospects, profit/finances and targets you want to reach.
· Conflict can be healthy and ultimately rewarding if you keep the communication channels open between you. It can lead to better outcomes in your business. Avoid bottling your thoughts up.
· Disagreements are natural in any situation whether it is personal or business. Everyone has an opinion.
1. Listen to what the other person has to say.
2. Understand their reason for believing this is right
3. Avoid getting upset or angry and talk it through.
4. Make a list. On one side put the positive points your business partner has and on the other put the negative ones. See what list comes out on top.
Find a solution that you will both be happy with. You may discover that one of you have a stronger solution that can lead to better outcomes.
LISTEN TO EACH OTHER! YOU ARE PARTNERS!
Compromise is something we may all need to consider in different areas of our lives.
AUNTY FABULOUS TIP:
Have a contract drawn up that you both agree to. If you are unable to agree to the contract and what goes in it then consider if it is worth continuing and how much more important your friendship is.
It’s Your Choice
Make a final decision. What is more important to you – your friendship or going into business together?
Lifelong friendships are precious. If you have fallen out with your friend over business you are may both be upset, frustrated and angry. LET IT GO! Time to move forward again and open the communication channels!
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