Dangers of Doing Business with Family and Friends
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Fremont: We are often generous with our family and friends as we get pleasure doing it. In normal times, we remain in control of our feelings towards them and feel good in fulfilling our responsibilities. When it comes to doing family and friends, it is a different game altogether. Despite the best of intentions, what starts out to be a safe bet, can turn into a major nightmare. The biggest risk is "money", which does not see relations. Since doing business is a high-risk affair, the money involved can almost for sure affect the weak strings of relations between you and your relation. The high drams might range from "I told you no to invest in that stock", to "See good that you listened to my idea. Not the profits would suffice us for long". Though family money is the easiest to procure, it might also be the toughest to deal with. Problems in business almost for sure impact the ties between you and your beloved ones. If a deal goes bad, you would not just lose the money, your reputation, but also the support of your support system. They might at every other occasion come to the workplace, which might spark off threads of gossip, which would directly or indirectly affect your work. Also, you have to decide whether to keep distance between personal and professional life or let them mingle. Whatever the case, the relation status would be changes, which might affect the many a hearts. The personal ups and downs show their ugly face in your professional life, which means that if you had a fight at home, it might become the talk of the town in the office the next day. More so if the person you messed with you knows some of your key people, you can be assured that you contacts also went flying out of the window. You should be strict about your polices and make sure that you adhere to your: business plan, plan your time, make judgments indiscriminately and split the equity properly. Doing business is tough, more so when it involves those close to you, as the losses incurred might be made up for, but the strained relations would be tougher or n many cases impossible to make up for.

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