Generally, the most common outcome for entrepreneurs who hire friends is ruined friendships. So, can we really mix business with friendships? Can we effectively navigate both, with the knowledge that business relationships gone sour can ruin friendships?
Research suggests that social connections such as close friends are critical for our wellbeing as good friends help us put things into perspective. These are the people we speak to when we feel overwhelmed; they help celebrate our wins and enable us to move on from losses with our heads held high.
Essentially, our success is improved when we are supported by strong and stable friendships because for the most part, friends become advocates of our businesses.
This said, being a good friend doesn’t always equate to becoming a good employee.
While friends are likely to support your vision, work long hours, or accept less salary to help you build your business in the beginning; they can also have a negative impact on the business by bringing pe...