Ask HN: Should I join my friends business? | Hacker News Reader

Ask HN: Should I join my friends business?

4 pointspeacemaker6 comments

A friend of mine has offered me a 30% share in his business to come in as the technical partner and develop and improve the product. He's been running the business solely for the last 4 years though only the last 2 has he focussed 100% on it. The business itself only has 20 or so customers but due to it's nature (booking systems) that brings in a decent amount each month.

I personally think the idea and product are sound, the issue lies with my friend. When all is said and done, I'm just not sure he's the right person to take this business on to the next level. He's easily distracted and completely disorganised. He's also had years to take this business places himself but hasn't managed it and I wonder why?

On the flip side, we obviously get on really well having been friends for years, communicate effectively and he is very personable and outgoing making for a decent salesman.

I guess it comes down to if I can assert my skills & influence onto this business and my friend enough to make it successful. And, knowing how difficult that will be, do I really even want to try?

Any thoughts/advice would be much appreciated!

Consider taking a class together on entrepreneuring or something like Ramit Sethi's Earn 1k class, or even just reading a book or a "how-to" article. This helps because then you can be more objective about where you disagree on processes, like "I agree with Ramit on this point and you don't, so I don't think we'd be good business partners." This moves you away from "you're wrong/I'm right" and will also show you clearly where the areas are that you have fundamentally different assumptions about how to run a successful business and what a successful business is. Hey, it worked like a charm for me! My partner and I were suddenly on the same page, because we could both talk about the "expert's" suggestion. Good luck!

Just ask him. If your skills compliment his and vice versa, then it's merely a matter of being able to compromise and understand each other.

After all, that is one of the reasons why pg likes friend founders: comfortable enough that they trust each other, honest enough that they'll point out flaws, and understanding enough that they'll accept the criticism.

I understand the reasons for choosing a friend as a co-founder but I think this situation is a bit different. I have spoken with him about my concerns and he assured me things will be fine however his actions don't seem to match his words. It's a delicate situation because I don't want to lose a friend by being too "honest" with him if I decide not to take part as he will surely want to know my reasons.

What have you got to lose by taking on the role? List out the pros and cons for yourself to help.

30% is very good for a business that has been running for 4 years with existing customers.

I'm at an interesting point in my life right now - I've left my full time job to focus on my own business. As I left, he offered me this opportunity. So, what have I got to lose? Time. Time to develop my own business the way I want. I have much more faith in myself than my friend and his business. But as you say, 30% is very good for an established business which is why I'm stuck!

The good thing about business is that there is NO Right or Wrong way to develop a business. If you already have a MVP in place already, I think you should work on your own business, bring it to the next level.

If not, then maybe you want to take up this opportunity - to learn & gain experience, build your MVP, save up, etc.

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