In March 2024, some friends and I decided to set up a media agency. By mid-March, we found a brandable two-word name that we all liked. C’mon, you know you need a really good name to start a media agency (not really, but yeah good to have one). Uff the struggle, if some liked a name, others didn’t, causing classic delays due to multiple people needing to approve.
From the start I can sense this is not done professionally. Though our goal here is to try out building a business and learn on the go. Subconsciously, I also believe that this would help keep our friend circle together, as we were still connecting for the sake of business. Otherwise everyone is just doing there own stuff as each of us was working in different domains within the media industry.
I have heard countless pieces of advice not to start a business with friends or family. I think that statement holds a weak ground without much strong arguments. If you are someone who takes actions without considering faces or names, this won’t be a problem, but if you have the innate desire to please them, the chances are you won’t take any strong impactful action.
A common issue is the development of jealousy and a “who is bigger than whom” mindset when someone steps up and starts making decisions for the company, while others are lazy and resentful towards a familiar face taking charge.
I believe that this is not the way to run a business. We need someone to make final decisions and move forward; otherwise, things will just drag on forever. Yep, when looking through this angle, starting a business with family or friends is really an bad emotionally challenging idea.
However, since it’s all friends here in this new business we are building and no one is being paid, we treat everyone equaly, so that each one of us feels a sense of belonging and gets involved in various tasks. There is no “The” boss here!
Currently, we are in the process of setting up the website and finding clients.
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