Sharing a passion for food , in 2023, Ms. Lan Anh (Thanh Xuan, Hanoi) and a group of close friends decided to open a restaurant. They agreed on the capital contribution ratio and a contract clearly stating the rights, responsibilities and conditions for capital withdrawal.

At first, the business went smoothly. The members discussed, divided tasks and eagerly implemented the plan.

When faced with difficulties in the operation, differences in working methods began to emerge. Each person had their own point of view, and a lack of common ground made the business stressful. From being close friends, suspicion and arguments gradually arose within the group.

The contributor felt disadvantaged when having to share the profits equally with the investor, while the investor thought that he was taking on a larger financial risk. When the cooperation could no longer continue, Ms. Lan Anh decided to terminate the business.

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Many business cooperation models fail. Photo: Nam Phong

Similarly, Mr. Cong (Dong Da, Hanoi ) and 3 friends once contributed capital to trade in imported household appliances from China. The total initial capital of the group was up to hundreds of millions of VND, of which Mr. Cong contributed 100 million, the rest from 100 to 200 million VND.

The initial goal was to import goods for wholesale to quickly turn over capital. However, after the goods arrived, the group began to have disagreements. Some suggested switching to retail for higher profits, while others wanted to keep the original wholesale model. After much discussion, they decided to try retail.

Because each member has their own job, no one has enough time and responsibility to run the business. Retailing is difficult, inventory is increasing, revenue is not enough to cover expenses. This situation makes the conflict between members more and more tense.

When they could not agree on a direction, the group almost abandoned the work. Goods were left in the warehouse, degraded, and lost value. The initial investment capital could not be recovered, and each person suffered a loss of tens of millions of dong.

How to not lose both friendship and money?

Expert Tran Khanh Minh Son believes that in business, cooperation with relatives or friends often begins with trust and understanding, factors that seem to be advantages.

However, due to lack of professionalism, conflicts easily arise, especially in matters related to finance, decision-making power and profit sharing. In many cases, businesses disintegrate and relationships are broken, leaving behind consequences that are difficult to mend.

To avoid losing both love and money, it is necessary to have a clear plan from the first steps. In the preparation stage, the suitability of the parties must be assessed. Consider each person's skills, core values ​​and level of commitment. If there are major differences in working style or goals, consider carefully before starting.

In the setup phase, a legal contract is an indispensable element, no matter how close the parties are. The contract should clearly stipulate the capital contribution ratio, roles, decision-making mechanism and capital withdrawal plan. Clear division of tasks and establishment of a transparent management system help avoid overlapping and mutual suspicion.

During the operation, transparent communication and professional work discipline should be maintained. Regular meetings, clear financial reports, and a “no personalization” rule help parties focus on common goals, and a neutral advisor should be available to assist when disagreements arise.

In times of crisis, an exit plan is essential. The contract should include a termination clause, clearly stipulating the right to buy back shares or how assets will be divided fairly if one party wants to withdraw. When conflicts are beyond the ability to resolve on their own, you can seek mediation or neutral lawyers to protect your interests and preserve the relationship.

This expert emphasized that doing business with friends can start with trust, but to be sustainable, it requires professionalism, clarity and mutual respect. Maintaining friendship in the business world is the greatest success.

Gym owner earns 100 billion, drives luxury cars and then gets a sad ending: A lesson for startups From a small gym, a former student expanded it into a chain of 6 gyms, at one point reaching a revenue of 100 billion VND and owning a Mercedes worth more than 3 billion VND. However, after only 2 years, the entire business almost 'evaporated'.

Source: https://vietnamnet.vn/hop-tac-kinh-doanh-voi-ban-than-ai-ngo-nhan-cai-ket-dang-2453130.html