When starting a business project, one of the most important steps is choosing a partner. In many cases, entrepreneurs choose to partner with friends or family, thinking that trust and emotional ties will make the process easier. However, this choice, although common, can bring with it significant challenges that affect both the performance of the business and the personal relationship.

While friendship can be a solid foundation in many aspects of life, when it comes to business, the key to success lies in sharing not only core values, but also a clear vision, a passion for the project, and a work structure that allows both partners to grow and contribute to the success of the company. It is therefore essential to carefully reflect on what type of partner will be most suitable for the venture.

The panorama of entrepreneurship in Mexico

According to the 2024 Entrepreneurship Radiography, carried out by the Association of Entrepreneurs of Mexico (Asem), 43% of the companies founded are made up of two people. This data highlights how partnerships are common in the business world and how the relationship between partners can be decisive in the success or failure of a venture. The nature of these partnerships implies that partners not only share responsibilities, but also the risk and rewards of the company, which makes maintaining a good relationship a crucial factor.

However, as the report points out, it is not always enough to have a close relationship. The ability to work as a team, resolve conflicts constructively and make strategic decisions together is what really ensures the long-term sustainability of the company.

Friendship is not always enough for business

The desire to start a business with friends or family members may have its roots in the emotional comfort that these relationships offer. Close friends, being trustworthy people, may seem like ideal partners to start a project. However, it is essential to understand that business and friendship operate under very different logics.

Emotional trust versus professional trust: Friendship relationships are primarily based on emotional trust. Instead, a business needs trust that is built through professional competence, fulfilling commitments, and making rational and objective decisions. If a friend fails to fulfill his or her professional responsibilities, this can lead to frustration, which puts both the company and the friendship at risk. In addition, difficult decisions that must be made in business can test the personal relationship in ways that even the closest friends cannot handle without being affected.

Personal vs. professional conflicts: Disagreements and tensions are inevitable in any business. Differences in visions for the future, the allocation of responsibilities, or even the distribution of profits can lead to conflict. When these problems arise between friends, they can be mixed with personal issues that make resolving them even more difficult. Personal tensions could lead to a breakdown in the relationship, which, in addition to affecting the business, can irreparably ruin the friendship.

The key to success: Sharing mission, vision, and passion

Beyond personal relationships, what really makes a business partnership successful is that both partners share the mission, vision, and passion for the project. This goes beyond having a relationship of trust; it is about being aligned regarding the long-term goals and the impact that both want to achieve with their company.

Shared mission and vision: Entrepreneurship is a long and challenging process. Without an aligned mission and vision, partners may take different paths as challenges arise, which could result in a lack of cohesion and direction. An ideal partner should have a clear vision of the future of the business and be willing to work hard to achieve it, even when the path is uncertain or difficult.

Passion for the project: Passion is the driving force that drives entrepreneurs to keep going despite obstacles. When both partners share a true passion for what they are doing, not only is creativity and innovation fostered, but a more positive and productive work environment is also created. A partner who is not as committed to the project could eventually lose interest, which would affect the energy and motivation of the team.

Complementary skills and strengths: An ideal partner should not only share the vision and passion, but also have complementary skills that benefit the business. While one partner might be an expert in sales, the other may be excellent at finance or operational management. The key is that each brings something unique to the venture, which will strengthen the team and ensure that the company has a more holistic approach.

How to avoid problems arising between friends and family?

Although starting a business with friends or family can be risky, there are steps you can take to prevent personal problems from affecting your business:

1. Set clear boundaries: It's critical to establish a clear distinction between a personal relationship and a professional relationship. This includes defining roles and responsibilities, as well as procedures for making key decisions. A formal agreement, such as a partnership agreement, is a useful tool to clarify expectations from the start.

2. Constant communication: Open and honest communication is essential. Both partners must be willing to express their concerns, doubts or disagreements in a constructive manner, without these becoming personal conflicts.

3. Conflict resolution: It is important that both partners have the ability to resolve conflicts in a professional manner. If tensions are handled appropriately, the business can overcome obstacles without compromising the personal relationship.

4. Legal and contractual agreements: Although trust between friends or family is essential, having a formal legal framework that clearly defines the business structure, profit distribution, responsibilities and procedures for dissolving the partnership can be a lifesaver in the event of major disagreements.

While personal relationships can be a solid foundation of trust and support, they are not always enough when it comes to starting a business. The key to a successful business partnership lies in choosing a partner who shares the vision, values ​​and passion for the project, as well as having the necessary skills to complement each other's strengths. Entrepreneurs should be aware of the risks of mixing business with personal relationships and, if they decide to partner with friends or family, make sure to set clear boundaries and formal agreements that help prevent future conflicts. Only then can a strong professional relationship be built that benefits both business and personal relationships.