Saturday, September 11, 2010

An Entrepreneurial Lesson

Avoid involving any relative or a good friend in your entrepreneurial venture, because there will be a boundary of the bond that you've with that person that will always be an obstruction between free flow of ideas, directions and responsibilities.

Consider this case: If he doesn't work, you won't be able to scold him to work just because he's your very good friend or relative. And neither would you be able to fire him, because he's again your kin. Now, if he works too much, he would not be comfortable being under your supervision and this would create problem. He would want to be at your level, which is outrightly impossible owing to professional hierarchies. It is really difficult to make them understand this fact. You would never want to share the equity with a person just because he's enthusiastic and also, your relative. Many a times, if there are any personal unresolved issues, you would find yourself bringing in those personal duels in professional situations.

I've often found rifts occurring in the team just because the other person doesn't like to be assigned tasks by a friend or a kin, because he doesn't want to be bossed around by a person with whom he shares a very intimate personal bond. And otherwise, if he's really interested in your work he starts encroaching too much in the administration of the entire venture, just because he thinks that the professional hierarchy doesn't hold for him and personal proximity that one has with that person holds at the professional level too. And this is when situations crumble up and things complicate. Friendship goes. Professional peace goes. And you end up irritated, a bit hopeless and sometimes even depressed, if you're too much attached to the person.

Your start-up emerges out of your desire and determination to render your idea plausible in the real world and you've thought very clearly about how you're going to do it. So, your good friends, working under your supervision, might not apprehend it and could create trouble very often.

Whatever I wrote is just out of experience. So, if you're the director of your venture, involve trustworthy but a little bit distant people, pay them and get the work done. Don't involve people who join you because of you. Involve people who join you because they have faith in your idea and they are capable as well as willing to make it happen.

I've tried my best to keep out all my close friends from my venture. Just to treasure our friendships. The only friend with whom you could be compatible in your venture will be your business partner, because he is your equal and you both will share the longer vision with unconditional faith in each other.

P.S. Starting up is not a picnic. Involving too many close friends and relatives might make it one.

1 comment:

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