Starting a business is not a walk in the park. A lot of things can go wrong from funds mismanagements, rushed market research, to poor marketing and the list goes on. While these hiccups can be avoided, starting a business with a friend can prove costly.
However, some of the most successful companies in the world today have been founded by friends from the likes of Bill Gates and Paul Allen (Microsoft), Larry Page and Sergei Brin (Google), Steve Jobs, and Steve Wozniak (Apple) to mention but just a few.
Closer home, a number of thriving businesses have been set up by friends and family.
WoK sat down with Lynne Odiwa and Fiona Morema, co-founders of Nature’s Best Green Culture Ltd, an agribusiness that sources fresh and organic traditional vegetables, and sells both locally and to Kenyans living abroad-to share how they have managed to maintain their friendship and run a successful business.
The two entrepreneurs who met in 2018 are best of friends so how do they make it work?
Shared vision is very key – Don’t mix personal and business matters
For starters, the backbone of any business lies in clear communication and transparency. That way, you’ll make sure you’re starting that business with the right partner.
“You have to see somebody’s personal value for the business to even have a chance. We share some values like our belief in God, that is something we take pride in and when it comes to making any decision we pray over it. We have boundaries, when it comes to rules we do it the business way,” Fiona told WOK.
Lynne echoes her co-founder sentiments and says their secret is legalising everything despite being friends.
“You don’t just trust the friendship alone, we legalise everything because even if you are friends we are still humans at the end of the day.”
Bill Gates and Paul Allen, who are childhood friends, read from the same script and say the two pulled it off thanks to a shared obsession with computers and a passion for entrepreneurship.
Don’t make assumptions about each other’s goals
While having shared values, tastes, and experiences it doesn’t necessarily mean you will align on your business goals.
Friends running a business together need to read from the same script when challenges come knocking on the door.
Artville Africa, a Media production company based in kenya that was started by four friends and has worked with Sauti Sol, Elani, Octopizzo and Muthoni the Drummer Queen say the key to success for entrepreneurs is to learn from mistakes.
“Learning from other people’s mistakes is crucial to keep a business up and running. A keen entrepreneur cannot afford to fall into the same pit that another one has fallen into. When you set out to do something, whether it is your own work or another person’s, do it faithfully. This diligence and self-drive was the foundation of our partnership.” Philip, one of the co-founders said.
Don’t let your business take over your friendship
Four friends met in 2013 at Kenyatta University. The four female students belonged to a college women’s savings group of 15. They contributed Ksh200 every week consistently for three years and later founded 4K Farmers, an horticulture business that sells potatoes, capsicums, coriander and courgettes.
Asked what they do to remain cohesive for so long?
“It is hard to break a friendship that survived the test of time in the university. Having been members of the same group for three years too enabled us to understand each other at a deeper level. Besides, we have a shared vision of excelling in business, which is what we all studied for in the university. Trust among us ensures that there is no room for manipulation, and that there is honest contribution to the business,” Doris, one of the co-founders said.
Don’t start a business with a friend just because you like each other
As much as you get along well, compatibility doesn’t always translate to success once you start running an office together.
Brian Chesky and Joe Gebbia, the billionaire founders of Airbnb, met when they were just design students at Rhode Island School of Design (RISD).
“While I lived with Joe I came to appreciate two things about him — he worked just as hard as I did, and his skills complemented mine,” Blecharczyk told Mashable.
“I have the technical abilities, and he had the creative design skills.”
Nobody was born knowing how to run a business, just start
At the end of the day, starting a business with a friend is no guarantee it will work. There are many pros and cons but there is no harm in trying.
“Do you know a sizeable number of businesses that are around started as a joke. Nobody was born knowing how to run a business. This is the reason you have to be open to learn, put in the effort, be consistent, and be strategic.” said Fiona.
