There needs to be rational thinking so that decisions are made for the good of the business rather than the friendship.
It requires a lot of emotional maturity because business decisions are neither fair nor just at times. For an example, if one friend insists on being in charge of finances, when he or she has no adequate skills to properly manage such duties, the other partner will need to make a rational decision to avoid a potential disaster in cash flow management.
The trick to ensuring that a business venture with a friend becomes successful is to take care of the following basics:
If a business partnership between friends is well thought out, there could be great benefits. It is important to remember that starting a business should not be about friends but should simply be based on a viable business idea and both parties need to have the emotional maturity to sustain a business venture. Some of the world's best entities such as Apple were started by friends.