Going about on an adventure with a good friend gives one more courage. It feels good to be two to tackle challenging and complicated obstacles. Two brains are better off than one to solve problems and share success. However, if you set a goal for yourself and you decide to work with a friend to accomplish it, beware.
Friendship is an affectionate link. Hence, such a relation can create irrational emotions when money or adversity enter the dance. In some circumstances, one may also love or trust a partner to the extent of forgetting one's interest.
Inevitably, too much inter-minglement of sentiments can become overwhelming. It happened to me, and I almost lost my soul in the matter. One must outline the rules of the games beforehand, or the adventure can turn sour.
Thus, it is necessary to describe in writing your vision clearly, your goals, your interests, and mainly the values which are essential for you.
Subsequently, anything that will disrupt your line of conduct should trigger a warning sign that you are entering a dangerous zone from which you should back off rapidly.
I came up with 12 points one should strictly avoid doing when entering into a business relationship with a friend. Please avoid:
1. Not having an explicitly written vision of what you desire to accomplish.
2. Not having the full support of your friend to achieve the goals you set out to do.
3. Not putting down in writing any gentleman agreements you willingly settled around a pint of beer or a glass of wine.
4. Being entirely blindfolded by enthusiasm.
5. Skipping due diligence based on mutual trust.
6. Not anticipating clear exit options in case of bankruptcy. 80% of projects fail.
7. Not putting in writing how to share the ransom of success or failure.
8. Trusting your friend blindly because he is your friend.
9. Giving up personal control to satisfy your friend.
10. Overcasting your values to please.
11. Not being able to say NO.
12. Not sharing your inner feelings toward your friend, may they be good or bad.