On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.
A friend who's going to be a bad business partner, the signs are always there from the beginning but we always ignore those bad character and think they'll change or give them a second chance since they're friends. You have to observe your friend to see if he's the greedy or impatient type because this aren't good business partners and they'll be difficult to handle in the future.
I prefer to do business with foreigners than close friends or family members. When strangers do business, they'll respect themselves and put attention to getting that business successful without been concerned about the profits as they would had discussed that before the business started, but friends or family members will always feel they're been cheated.
that is correct! look for warning signals and possible reasons why he might do something foolish down the the road. as a friend, you already know some of his weaknesses and strengths. but if you failed to see it and you're already running your business. and that's when he showed up some red flags, confront it right away, don't wait too long or before it's too late. better be frank about what you are seeing rather than regret later on and you can't revive the business anymore. i can compare this with running a business with your family. sometimes you won't address the obvious problem because you're a family.
