That is the first and ultimate rule. One day those friends will not be able to draw the line when you must be the boss over them. No matter how justified or qualified you are, they will have a problem with it.
FIGHT EARLY
Before the project takes shape clearly define the goals. Everyone must understand the ‘why’, this will help guide you through conflict. Most projects start with a group of friends. When going into business as a group of friends start by choosing a project leader using whatever metric the group deems fit. In most instances, the whole group will want to be part, and as responsibilities start coming in, people will quit. Unfortunately, you will not be able to tell who will give up and why. So, keep in mind to try to run the project with the smallest number possible. If three people are the absolute minimum required within a group of seven people, pair the seven into three groups, plus a leader. That way, when some start to quit, others within the group can pick up their slack.
NEVER BE EQUAL
In the beginning, it may seem like everyone involved will contribute the same amount of effort, but that is impossible. Figure out who will do slightly more and that one should get the majority responsibility, shares, and profits even if it’s just by 1%. It could be the one with a car,or money, the one with the resources to execute or the one who came up with the idea. When there is a majority automatically, there is a chain of command in place, a structure, but most importantly, everyone will be designated responsibility within the group.
Having a majority share even by a small margin can give a young man arrogance, and that arrogance will be quickly extinguished by the fact that everyone will blame the majority holder for anything that goes unchecked in the group. The buck stops with them. If someone in the group fails at their job and the whole group suffers, the majority stakeholder will ultimately bear the responsibility because they did not make sure that the one tasked executes.
PUT IN IT ON PAPER
What is agreed on when the group was hungry will be twisted and forgotten when the money comes.
Paper does not forget. With paper, there will be no need to quarrel for hours or days because conversations have reference and context.
No matter how small or informal you think the project is, if it has the potential to bring in money put it on paper. The responsibilities, the terms, the pay, the expectations, it must all be on paper. This is to avoid situations where after some time, one feels like the other’s job is easy and they can do it all the while motivated by unequal pay. There will definitely be accusations about how one stole from the other when things fall apart. The paper will protect you. With paper, you are able to dismiss someone who is not pulling their weight.
WHEN DAYS ARE DARK, FRIENDS ARE FEW
That’s exactly how it should be. There comes a time when challenges are overwhelming, and it seems like your friends and the people around you don’t want to help or have deserted you. Those are the times when you feel most alone. Even when they try, they don’t seem to have what it takes to help you.
It is during these hard times that you are reminded that you are the most effective human being on earth who can solve your problems. In the beginning, it seems like you are a victim of being used by friends and family; they are now leaving you when you are down and out. If you are in a dark place right now, consider yourself lucky.
Whether it’s unemployment or certain doors not opening as you keep trying and trying, whatever it is, you are lucky. When you fall into a dark place, it’s the day you see the reality of your life. It’s the only place you can see the light. Without falling into a dark place, it means you are blind, and you are stuck in a loop of a fake life or lies you tell yourself. A dark place is a start, not the end. It’s the start of what exactly? When days are dark, it means you need you to put your whole focus back into yourself. You need space, you need to refocus so you can rebuild. Friends may distract you, and you run the risk of not seeing or fully comprehending just how much of you, you can be without anyone’s assistance.
Your circle is without a doubt there to assist and support you. But ultimately, you are the one who chose these individuals to be your closest allies, soldiers, and pillars. They, too, however, are the centers of their universe. They may have their own pillars. As soon as you stop being useful to their wants and needs, there is no reason they should keep you around because you will be a burden to them. As harsh as it is..TO CONTINIUE READING…
GET NOMAYINI THE MENTALITY YOU NEED BEFORE STARTING ANY BUSINESS
