Friday 15 October 2010

A golden rule for business partners

I went for a haircut this morning and a new, guy, Tony, cut my hair. We talked a bit, as you do, and he told me that he used to be in (haircutting) business with his brother, before he came to work for my barber's.

Things went wrong, Tony told me, and he and his brother fell out over something fairly trivial, which was vaguely business related. It was certainly true to say that if they had not been in business together the falling out would not have happened.

That was a year ago, and they are still pretty cold with each other.

This seems very sad to me, but does remind me a golden rule of my own: Never go into business with friend or family.

I also was in a business with a friend a few years ago, but we had a difference of opinion and have not spoken since.

Sad. I didn't have my golden rule then. I do now.

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