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How to Mix Business With Friendship

July 21, 2009 RSS Feed Print

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GL Hoffman

Around town they like to joke about the owner of chain of carpet and cabinet stores who makes the rounds at charity events, chatting up people about their carpet needs. And it is not an "oh, by the way" piece of the conversation either--it is “Hi Joe, how’s that old carpet of yours doing??”

Obviously, he loves his business and shows a passion for it. But where is the line? How do you mix business with friendship? If you believe in your products/service, why should your friends miss out on the opportunity for you to serve them?

I am interested in your responses to this, as well as hearing your own questions around this topic.

G.L. Hoffman is a serial entrepreneur and venture investor/operator/incubator/mentor. Two of his companies have traveled the entire success path from the garage to IPO. Currently, he is chairman of JobDig, and his blog can be found at WhatWouldDadSay.com or at JobDig.com.

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Many times I hesitated,wondering whether I could sell them (my friends or relatives) my goods which I had known it is not that perfect.I would feel mighty guilty about what I had done.For fear that I would suffer from my guilty feeling,I perfer not to sell goods to them.I am in trouble of this sort as well.I hope anyone can send me a hand.Thank you!:-)

Jewel 10:17PM November 01, 2009

If you are ABSOLUTELY sure you have the best product at the best price, that it does not entail any negative risk to the buyer, and you would stand behind it 100% yourself no matter what--if it "goes bad"---then sure, sell it to all the relatives and inlaws.
Problem is, there are very few people in business selling anything that good. Sure, if you own the local McDonalds, sell 'em a hamburger. If you are a stockbroker, don't touch the retirement savings of anyone you're related to.

Muser of NM 12:35PM July 21, 2009

Selling your products at all to relatives? Or let's say parents in law...do you think the chances of it "going bad' mean future issues so you should avoid it all together?

GL Hoffman of MN 12:14PM July 21, 2009