Ways of doing business with friends

Doing business with friends can be fun. There was a close friend who can be invited to discussions especially if your friend has a capital and extensive relationships. But, if you really want to do business with friends, buddies even familiar ones, still have to have separate requirements.

Here are some tips on choosing to do business with my friends, as presented in his book Nurul Hidayati Home Based Business 20, Capital under 200 USD, publications Daras Books, as quoted by Twitteling.

1. Reputation and Background.
Before you decide who your friends who will be selected, you should also think about what kind of person who would be suitable for whom you want to run a business you have selected. This is important so that business can run smoothly There are living and lasting.

Know the reputation of someone with whom you want the business. If you need a small interview, ask the work experience, interests, and how much salary he wants.

Also ask him if he often borrowed money, because who knows he’s the type of person who lobbies piling debts or dig a hole vent cap.

2. Expertise.
If you are amazed at the ingenuity of your friends speak, not that the friend is qualified enough to become business partners.

The business world does not just need people who are good at talking but also acting and actively seek opportunities. Therefore, examine whether in addition to their versatility speaks, he also has other skills needed in business, such as:

a. Talent or ability.
If he does not have the talent or ability in the areas that will be cultivated, of course this will be inconvenient, is not it? a time when a problem arises in the field, you will fight alone because he can not contribute the way you expect.

b. Fighting Spirit.
See if he’s so passive, lack initiative, did not dare to try, and have no guts. Because even though he seems to have plenty of ideas to develop business, but if the desire to realize a low, he would not be much help.

Do not ever think that you alone are enough to tip of the spear, because it will be troublesome. He’ll always be waiting for you every time to make decisions.

c. Coordination.
It is important to have the ability to coordinate. Although your partner is well positioned to take care of the tasks in the office, it could be because of the limited available power, should make the task of coordination with outside parties.

Coordination is of course not only be done by phone, but also occasionally to the field should check whether the coordination has been carried out in accordance with the plan.

3. Set Rules.
Maybe at the beginning of cooperation already agreed with openness, but in practice, it is difficult to be conducted. In addition because of your relationship with your friend equivalents, was familiar with one another. Well, let me not arise misunderstandings and doubts, try the following steps from the beginning:

a. Tasks appropriate capacity.
Create a division of tasks based on the capacity and working style of each. Provide field supervision responsibilities for people who are dynamic, decisive, and capable of making decisions.

Assign people jaunty and negotiate to get in touch with outside parties (such as seeking an order or dealing with suppliers). Do not give out administrative tasks in people who take care of his work is not systematic and less scrutiny.

b. Monitor each other.
Set rules for each work process and monitor progress. Agree that such action is not to meddle in the affairs of others, but in order to remind each other.

You can display the contents of communication boards not only the kinds of projects, but also the work process and its progress. Optimize communication affairs in order to avoid awkward spoken attitude, blaming each other, and need not grumble at the back.

c. Squeeze your problem.
If there is a misunderstanding, soon finish openly in a special meeting. Do not delay or do while ago while the real problem was not excavated because of this fact will exacerbate the situation.

Machination behind will not only create an unpleasant working atmosphere, but also lower productivity.

d. Be assertive.
Create strict regulations, especially if the work site using a private home one of the members involved in business. Do not let the family’s interests and the interests interfere with one another office.

For example, set the use of telephones or toilets. In addition to facilitate the monitoring of costs, at least not to mix use office facilities for personal business.

4. Managing Financial.
Establish a clear financial policy and firm as well as mutually agreed, such as borrowing money, loan repayment, or reimbursement of transportation costs.

All members shall recognize that there is money the company money and used only for the sake of maintaining business continuity.

a. Salaries.
Whether to invest or not, we recommend to every person a clear set salary system in accordance with the burden of responsibility and expertise of each. Do not let this sensitive issue makes all the people counting on what to do.

b. Account.
Make your own bank account, do not be put together with personal accounts. Spending the money must be approved by more than one person so that money management is more controlled.

c. Neat.
All members shall maintain the administration (both financial administration, order entry, purchasing, spending, and the letters in and out the other).

This allows each member to handle their duties in the absence of important papers scattered or lost.

d. Agree.
Pick the right person to manage the sensitive part of the financial section. Make sure all members to agree on the choice.