MC067: Doing Business with Friends

By May 18, 2016 Uncategorized
E67

There is an old adage that has been floating around the business world for ages; “you should never do business with friends”. If you’ve never worked together with your friend, it can be difficult to translate their skills from a social context into a business one. That doesn’t mean that you should refuse to start a business relationship with friends and family.

On this episode of MakingChips, we ask the question: can you have close relationships with vendors and clients? Jim and Jason discuss their personal experiences and lay out some hypothetical situations about doing business with friends. We also talk about the continued popularity of the retro movement and its effect on manufacturing. Also discussed is recent news with Tesla Motors, the MakingChips Mastermind & Workshop series, and IMTS 2016.

 Episode Structure:

  • [00:09] – Episode Preview
  • [02:35] – Manufacturing News 1
  • [06:10] – Manufacturing News 2
  • [09:45] – MakingChips Mastermind and Workshop
  • [11:10] – IMTS 2016 Registration
  • [12:50] – Sandvik Coromant
  • [15:10] – “Doing Business with Friends”
  • [20:04] – Honesty
  • [25:00] – Unsuccessful Business with Friends
  • [29:03] – Circling Back
  • [34:04] – iTunes Review // Conclusion of Episode

Mentioned in this Episode:

We Want to Hear From You, The Metalworking Nation:

  • jim@makingchips.com
  • jason@makingchips.com
  • ryan@makingchips.com
  • Telephone: (312) 725-0245

 

One Comment

  • Ray says:

    I worked with a sales guy that used to say: “You have to make money off your friends, because your enemies won’t do business with you”….

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