Over the years and with bad stories, people have avoided doing business with their close friends because it either ruins their business or ruins their friendship. Mostly due to lack of understanding, embezzlement, greediness and many other factors which have caused many businesses to crash.This does not nullify the fact that doing business with friends is possible but that not everyone is that lucky. While bad friends are at large, the benefits of the good ones can still not be overemphasized enough. The problem is that many business owners don't understand the need for boundaries at work even when doing business with friends and family and so the cause of many business problems.
Friends in business doesn't necessarily have to be someone who knows the color of your room or the school your kids attend, it should be someone you can trust to always want the best for your business and you both benefit mutually. The business world is quite tricky, some people act like they want the best for your business but are actually sabotaging it behind you. It's not a must you start a business with your friends before it can be successful, if you guys can keep it strictly professional and respect boundaries then it's fine and if not it would be best to totally avoid it.
Your business friends can be from other businesses that are similar to your, have a direct impact on yours or by just carrying out business transactions. For example if your business makes fabrics, it's only sensible that you make friends with a garment making company or fashion houses. This kind of relationship is based on trust as well as demand and supply. They could even further refer you to bigger businesses that may need your services based on how trustworthy you are or because they have grown to trust you over time, you don't necessarily have to eat from the same bowl but they are your business friends. Some might call them business relationships, whatever you call them they are important to your business. Getting your business to a certain level won't be about your skill, how much capital and experience you have.
At a certain point you will need certain relationships to take your business to an even higher level. These relations are a large network of people who you can trust to recommend your business any opportunity they get. Apart from business friends we still need our typical friends who have no connection whatsoever to our business. They might not have the contact of that big client but they can support us in their own little way. By referring, posting about your business on their social media or by buying your products or services. Which ever kind of friends they are, as long as they are the right ones, the benefits for your business are numerous. Besides without friends to celebrate your business success with, life would certainly be boring.
