3 Tips to Jump Into Business with Your Best Friend

Lifestyle The List
By: Lindsey Granger | Cassarah Coffey Posted: 10:40 PM, Aug 30, 2016

Twitter, Facebook and Snapchat are all companies cofounded by friends who ended up getting messy divorces. How do you make sure your business venture doesn't cost you a friendship? Kristen Holman and Michelle Smyth have been pals since childhood and now co-own Pay Your Selfie, a popular app that will actually pay you for selfies. They shared three successful ways to jump into business with your bestie.

1.  Start with The Hard Talk

Talk about the risks and all the bad scenarios first, and then ask yourself, are you willing to lose control? Is it okay when you're wrong? Are you willing to be vulnerable? And don't forget to share some laughs together.

2.  Treat It Like a Marriage

Make sure you are making time for each other. Whether you're meeting for an early morning breakfast or late night dinners, stay connected. If you have quarrels, take the time to make up so you don’t break up.

3.  Talk About Everything

Starting a company is hard work, so lay it all out there. Be open and honest about all the pressures involved. That way, when the going gets tough, you'll have the person who knows you best at your side. Have faith in each other and be prepared to give up control even though it may feel uncomfortable at times, but have faith that the other one will catch you no matter what.

Starting a business with your best friend isn’t for everyone, but using these valuable tips, you and your bestie will have a much better shot at success.

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