Should You Start a Business with Your Bestie?
If you listen to our Hashtag Managed podcast, you know that in the month of June, we had a BFF Founder series. We heard from Beck's Broth, Wishing Well, and of course our very own Hashtag Managed duo, Maddie and Jessica on being in business with your best friend.
Haven't listened, yet? Check those out now!
I think after listening to each episode, we all had the same thought: should I start a business with my BFF? Well, the story has definitely worked out in favor of these ladies, but it lets shed some more POVs on the subject so you can really think it through.
Mini Me vs Complement
I'm sure you've heard the advice of "don't hire you're mini me." And, this couldn't be more true in this scenario, too. It's important in your personal and professional life to surround yourself with people who aren't the same as you, because that's how we grow! If you want your business to succeed, it's crucial to have people around you who complement your strengths and weaknesses so you're well-rounded. That doesn't mean that you can't hire or start a business with someone who has similar interests, but rather a different skillset. Think about your friend who works in accounting who books the reservations for your group vs the photographer who keeps the conversation going and tells you where you should stop next. It's all about balance. So, if you and your best friend are too similar, BFF might be a better title than co-founder, and that's okay, too!
Separate Business + Personal
Do you know when you go to your partner to vent about something, and they tell you how to solve it instead? Separation is important! When you are out at happy hour, that's friend time! When you are in the Zoom Room, that's work time. Of course, those lines can blur a bit, but it's important to communicate and set boundaries of when you need to be in work mode vs friend mode. The last thing you want is for your friendship to turn into a business meeting all the time.
Handling Conflict
Any current entrepreneurs in here can admit, your business becomes your baby. And with that comes a lot of heart, emotion, and passion. Do you know what else comes with that? Conflict! Because you CARE! When you are creating something that you are so in love with, there are so many emotions tied in, and when someone has an opposing idea, it can be challenging to hear them out from time to time. Like we mentioned above, embrace those differences in thought, lean into those oppositions, because that's going to help you grow. But also figure out how to communicate this to each other without ruining the relationship, being rude, or eliminating the friendship. You're going to fight about your business, it's normal.
Don't Force It
Maybe you and your BFF are the definition of ying and yang, and you don't have similar passion projects, so don't force one. The best business is one that you're not forcing. If you genuinely believe in your business, it sells itself. So, if you happen to both have a pain point and a solution to solve it, that's where there is a business opportunity, but don't just start one to start one.
Tell your story
We cannot stress this enough. If you listened to the podcast episodes, it was truly amazing to hear their stories. Best friends who start a business together is a dream for everyone, and people love to hear stories on this. Don't hide behind the scenes, people want to know about your journey together before and during business!
Starting a literal brand isn't easy, but doing it with your best friend can make it 10x better. Just be sure to think about the relationship as a whole before diving straight in. Now, get back to those podcasts you need to be binge-ing.
