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Quote by John Arthur

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The Law Of Reciprocity

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John Arthur

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“In fact, when you're doing business with friends you should be even more deliberate about discussing startegy and outlining clear goals and business practices. I didn't want to risk the relationship by having these hard conversations or seeming unsupportive, so in the end I said yes... and our friendship was still affected.”

“I can't stress enough: when doing business with friends, the agreement needs to be ironclad. The terms need to be crystal clear. THe more you leave open to interpretation, the more one party will make assumptions based on friendship rather than business. Sometimes we avoid these conversations because we don't want our friends to think we don't believe in them, but it's always better to discuss contingency plans before you need them.”

“There will always be new business opportunities. If you say no to one deal, another will come along. But you can't replace a friend. Sure you will make new ones, but the people who have known you outside the office, maybe since before your career even started, those relationships can't just be replaced.”