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One of the most common rules in business is to never do business with friends and family. Well, you may say those who are the people I trust most. Yes, that may be true but the people closest people to you can also hurt you the most. When doing business with someone it takes more than just love. It even takes more than trust. You must also be able to know someone's character, their track record doing business, how do they respond to adversity, and do you all the same vision! Even then that is still not enough, it is important to have proper legal paperwork and accounting procedures to avoid any pitfalls. If a person can pass all the prerequisites then you should consider doing business with them because there is always a chance it could work in your favor!
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One of the most common rules in business is to never do business with friends and family. Well, you may say those who are the people I trust most. Yes, that may be true but the people closest people to you can also hurt you the most. When doing business with someone it takes more than just love. It even takes more than trust. You must also be able to know someone's character, their track record doing business, how do they respond to adversity, and do you all the same vision! Even then that is still not enough, it is important to have proper legal paperwork and accounting procedures to avoid any pitfalls. If a person can pass all the prerequisites then you should consider doing business with them because there is always a chance it could work in your favor!