Starting a business with your college friends may be among the top ten dreams many students share. What can be better than sharing your ideas and triumphs with people who understand you? You might think it will work without any bumps in the road. However, it is not always sunshine and rainbows.
You may think being excited and motivated about a project is enough to make it real. In many cases, people hang out without any real progress because they are easily distracted by other things going on in their life. It also may depend on the type of company you start. You don’t want to end up leaving your friends doing all the work while you are not invested in the project.
If you are planning to start your business right in college, you need to cover your studies. Don’t overlook your academic performance in favor of a startup. Take care of your homework with the help of and essay helper to take care of some assignments. Once you figure out how to balance your work and classes, you can think about further steps.
Pros
You already have trust
Trust is something you spend years building and maintaining. It’s hard to read people right away. Unlike Paperwriter.com reviews, you don’t have a list of things you need to pay attention to. Your college friends may be people with whom you experienced highs and lows during semesters and exam sessions, and you can rely on them anytime.
Just like finding a trustworthy essay writing service, you don’t want to let go of them. Starting a company can strengthen your friendship even more.
Balance your studies and work
It is much easier to manage your daily responsibilities with your friends. When it comes to the request to write my research paper, you can deal with your academic tasks, find the best paper writing services, order essays, and then return to work. You can easily cover all nuances when communicating with your friends. In comparison, you often risk your position when you start working in college.
You are surrounded by like-minded people
Searching for people with the same work ethic and worldview can be exhausting. Sometimes it takes decades to find people who can understand your vision and core values. When you are beginning your entrepreneurship journey, you need people who are not going against their interests but share your passion and values. Your college friends are the first choice that comes to mind when looking for such people.
It’s much easier to reach an agreement with like-minded people than to convince someone with different core beliefs. Even though you will compromise and find a middle ground with someone fundamentally different from you, your close circle is people who simply get you.
Transparent communication
The main issue any entrepreneur faces is communication. Many people would rather stay quiet than talk about issues or avoid confrontation altogether. With your friends, it’s different. You can share all concerns and feedback without being afraid they don’t understand you.
The same goes for receiving critique. You can handle the critique better and improve. After all, your friends know you best. Your venture’s success relies on transparent and honest communication.
It’s fun
Not everyone can say their job is fun. You can find a job that checks all boxes, but something would be missing. Starting a business with your friends can give you fulfillment and fuel your passion for years. Sometimes it is worth all the risks to try and start working with people you respect and love.
Cons
You lack boundaries
All healthy job relationships require boundaries. You have specific working hours, responsibilities, and separation of business and personal affairs. When you are working with friends, it can become a real struggle. You can’t say no to your friend or act in your interests.
Many people start pushing each other’s buttons. However, you can easily overcome these shortcomings and discuss the ground rules of a healthy life-work balance. If you prioritize your business over relationships, you risk losing both.
Ego can get in the way
Remember the Social Network? We all know the cautionary tale of people who started together and then wronged their business partners. It is yet another case of prioritizing your ego over the relationship you have been building for years. It is important to remember you started with someone even if you believe your contribution was greater.
Be sure to always check up on your friends and communicate your concerns. Don’t overreact or argue if something goes wrong. You are in the same boat and it is important to care for each other.
You have the same network
Usually, friends hang out with the same people. It limits your opportunities to connect with people from different industries and expand your network further. The best way to ensure you reach new people is to expand your networks effectively. Be sure to visit different events, leave your contacts to everyone, from an essay writer to a designer, and go outside your comfort zone.
You forget about legal paperwork
Even if you are one hundred percent transparent and honest with each other, you should take care of legal paperwork. It exists to ensure that you both have equal rights and liabilities regarding your project. It also ensures you are on the same page with your plans and ideas. Many times people get into arguments because they discussed something but never put it into paper.
Your friends are not interested in business
Many people expect a business to be a smooth sail because they start it with friends. Yet, your friends may not be as interested in business as you, even when you share the same beliefs and values. They may agree at first, but everything can quickly turn into a nightmare. Sometimes it is better to stay friends and look for other opportunities.
The bottom line
There are countless what if’s and nuances when it comes to starting a business. If you stay honest and prioritize communication, you are most likely to avoid heartbreaks and failures.
