Whether you've been thinking of starting a jug band with your backwoods cousins or opening a bar with your college roommate, one thing is for certain: adding the "money" element to your relationship will change it. Fred and Jeremy share their advice and perspectives on going into business with friends: the ways it could go wrong, the incredible benefits, and the best practices to make it last.
In This Episode
- 08:01 The downsides
- 10:58 Trust
- 12:45 Discuss goals and values
- 16:52 Trust Test
- 19:13 The benefits
- 22:16 Coen brothers effect
- 25:06 Complementary personalities
- 26:57 Competition - A/B role
- 31:39 Better communication with friends
- 35:41 Become familiar with working styles
- 36:56 Concrete advice for going into business with friends
- 37:20 Start with short-term projects/ package deals
- 42:01 Focus on what needs to get done
- 47:42 Don't keep battle scars
- 51:30 Be above board with money
- 53:33 Lawyers and operating agreements
- 57:25 Revisit goals regularly
- 01:02:13 Word to the Wise
People On This Episode
Links from This Episode
Word to the Wise
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