Heartless, yes, but a Harvard Business School study showed that among technology founders, the group that is made up of friends proved to be the most unstable, with a founder turnover rate of nearly 30%.
Surprisingly, the group composed of total strangers fared better.
In fact, if you hedge your business decisions on the wisdom of statistics alone, stoically ignoring your friend’s frantic excitement about “this cool business idea” seems to be the safest route.
After some serious consideration, brainstorming, and weighing the pros and cons (more on this later), if both your business idea and premise of involving your friend as a partner come out as a positive, then you may need to risk failure and your friendship, in order to get your business off the ground.
Many ventures founded by friends do succeed, and in fact represent some of the world's most prominent brands.
In this respect, friends can generally solve problems by intuitively drawing on their respective strengths and treading lightly on known character flaws.
Most of the time, friends share the same interests general belief systems.
Take the case of dot com era entrepreneur Scott Testa, who launched a startup with a tech-savvy friend he had known for 15 years.