I’m thinking about starting a business (not foot model related if you’re looking at my profile) and I’m completely torn as to whether I should partner with my best friend on this venture or do it alone....We are in the same profession and have worked together for as long as we’ve been in the career. I’m a bit of a perfectionist and knowing that, I feel that my friend and I would make an amazing team. We think a lot alike and are extremely hard workers. I feel like I almost wouldn’t even venture into this alone because I know it would be a lot to handle, I wouldn’t want to half-ass it being spread too thin, and certain aspects of starting a business intimidate me; however, it wouldn’t be impossible if I really wanted it. I am providing the idea, the initial clientele, potential volunteer labor (I established another volunteer program that I can dip into), and a connection for a cheap sublet on a space for our work. My friend is extremely knowledgeable in our profession and would be able to contribute a great deal of additional information regarding areas I’m less knowledgeable in when creating a business, ideas for the business services, and would work just as hard as me. My friend feels that if she were to partner with me that she should get 50% of shares of the business if she’s willing to invest 50% and put her career on the line to dedicate herself to creating this new venture with me. I understand that if she’s doing 50% of the initial work that she feels entitled to 50% of profits, but at the same time I’m not sure it’s fair with all that I’m bringing in initially. This opportunity wouldn’t exist without what I can bring to the table. In addition to this, even if we have everything agreed upon legally- is this a risk to our friendship? Has anyone started a business with a friend? I’d love some insight. Thank you! see hubwealthy.com/wealthy
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