Millennials Here's Why Your Friends Make The Best Business Partners

I remember the first time I told my Dad I had co-founded a publishing company with my boyfriend. It was five years ago. I was twenty-three and fresh out of college. He sat me down and told me I was making a big mistake and that it was foolish to mix my personal life with my professional life.

Flash forward several years later, and my personal life is nearly indistinguishable from my work life. My boyfriend constantly jokes, “all you do is talk to your friends on Facebook all day and somehow you make money doing it.”

That’s because many of my friends are contributing to my business. The speakers, attendees, and team behind my international acceleratoreventsare all those who I’ve met over the years, or who i’ve been connected to online, or who’ve been connected to me through another friend.

For my Dad’s generation, personal and professional were two distinct categories that didn’t mix.

But it doesn’t look this wayanymorefor millennials—we’re preferring tointegrateall areas of our life, resulting in successful business collaborations with trusted friends and more time spent with those we love.

If you’ve been searching for the perfect business partners, they could be already among you.

Three millennial co-founders who have been best friends since elementary school are illustrating this concept perfectly.

Meet Russell Howard, David Lasman and Adam Malka, the co-founders ofSignature Tracks, a music production company focused on bringing current sounds to TV series. Signature Tracks has served major TV networks like MTV, ABC, and CNBC, shows like Keeping Up With the Kardashians and The Bachelorette, as well as celebrity artists like Jay-Z, Chris Brown, Lil Wayne and Miley Cyrus.

Signature Tracks

Source: Signature Tracks

This week on theUnconventional Life Podcast, Howard, Lasman, and Malka share why running a business with your friends can be extremely rewarding both professionally and personally.

Below, discover why friends make the best business partners.

You’re Highly Compatible

The benefit to working with your closest friends rather than a strictly “work-specific” team is that you and your friends have already established a high degree of compatibility. 67% of American workers say having tight-knit relationships at work makes their job morefun and enjoyable, which can alsoincrease productivity.

The key to a successful collaboration is combining your greatest strengths. A team comprised of your closest friends can perform highly by identifying where you each excel, and localizing your tasks to that specific area. “Russell is the head creative of our group, responsible for branding our sound” Malka says. “Each of us have our own function. Our synergy is based on friendship..”

You Know How To Navigate Conflict

According to asurveyby the HBR, half of all employees surveyed said they didn’t feel safe to speak up at their place of work. Within traditional companies, it’s not uncommon for there to be a “fear culture” around voicing unpopular opinions, especially among lower levels of the ladder.

When it comes to the innovation and expansion of any business, open dialogue is essential. With your closest friends by your side, you can trust that you’ll be able to speak your mind without fear of reprehension or losing your job. Chances are, you’vealreadynavigated conflicts in your friendship, and your bond has the fortitude to withstand any challenges that arise within the work environment in a way that honors all parties and promotes business development.

“With three best friends, there’s little things you’re fighting over in the beginning, but it’s also amazing. We each own 33% of the business, so there’s no boss. Defining roles has been good for us,” says Lasman.