First off, failures in life are meaningless to business, because one has to keep personal life aspect separated from business otherwise both suffers. Secondly, if I was in a position to offer any assistance, including financial, then I would, but I would also make sure I have time to devote ensuring his/her success and to do that, I would review and examine his past failures in business, so as to show him/her how to learn from such mistakes/failures.
Not exactly sure what you're looking for, but I'll give it a shot.
My uncle lived in California and I lived on the east coast, and one day he called me. He had a business proposition for me. I asked for details, having previous business management experience, I wanted to know what he was thinking.
He asked me if I was interested in running a small kitchen in a bar/lounge. I had experience in the cooking industry(restaurants) and would provide the finances needed to get it off the ground, and if I was interested.
I told him that I was definitely interested and he paid for a plane ticket out to California. However, when I got out there, I was told I would have a partner, which then made things more complicated. My ideas were to hit the ground running, but my supposed partner wanted to do things day by day, with no real plan moving forward.
I found this very difficult. Not to mention, after about three weeks, I was working 80 hours each week, while my supposed partner worked less than one hour a day. If my friend was not a planner or didn't understand the stuff(knowledge of operating a business), then we would have to work from square one, depending. If his previous businesses failed for other reasons, like him not understanding profit margins or didn't understand supply purchasing, so as to operate effectively, then it would be a problem that would need to be corrected.
My problem in California was one of a lack of experience on my part and my partner's part. Compromise was not in his vocabulary, nor did he understand profit margins with regards to pricing the meals the kitchen would make. Nothing the less, the opportunity failed and I returned home. My uncle was not too happy with the other gentlemen(the owner of the lounge and my supposed partner).
No I would not help him out with his business. Why? a)His track record is not good, so I don't trust him to do well this time. I might trust such a friend in emotional matters, but not in business matters. b) I don't like the idea of having money at stake in a friendship. If he loses the money, I know it would affect the relationship, even if I tried not to let it be a problem. I think money can definitely come between friends. and c) it's his business and his responsibility. I would prefer that he work a job, save up his spare cash, and THEN put his OWN money into his business.
Now if a friend needed, say, a ride to the airport or train station or whatever, sure no problem, I would do it. That is a lot different than investing in his business! Basically as Reality Bytes said, friendship has nothing to do with business investment.
I still don't feel it necessary to help a friend by investing in his business. Presumably he is a man that can stand on his own 2 feet - I strongly feel the friend can work at a job and and save up money of his own and then can invest his OWN money into the business.
I think that it is expecting too much of people to expect friends should invest in a business. Friends can help each other in other ways: helping each other move apartment, give each other rides to the train station, but I feel that expecting a friend to invest his/her savings in a business is unreasonable.
No. I think I have an obligation to do what I can to ensure others have access to basic subsistence and liberty. Starting a business falls into the category of pursuit of happiness. That is a personal issue.
I have no idea what you're talking about. If it were in my power I wouldn't let a friend go without food or shelter. I would stand up for anyone to protect them.
I would never feel obligated to foot the bill for someone else's business venture, nor would I suffer a moment of guilt for saying no. a true friend would never have the audacity to ask a friend for money to start a business.
ok so you mean to say that you will give him food and shelter but not business venture help. that is what i wanted to know your decision is yours . I respect that and believe you are right from your point of you
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