A business situation I was in with a friend went wrong. We now have a dispute about who is at fault, and if he weren’t a friend, I would take the matter to court to recover about $3,000 of my investment. But I don’t want to ruin the friendship. What do you recommend?
It’s a very risky business to go into business with family and friends. Things never go smoothly in business to begin with, and when you add the complexity of working with personal relationships — well, don’t you watch “Succession”? If you sue a friend, then they will no longer be a friend. If you don’t sue a friend but harbor a grudge, then you still won’t be friends. Try to work out a compromise. In the spirit of friendship, consider splitting the difference. Some people feel business is business and not personal and one shouldn’t be confused with the other — which leads me to using this opportunity to pay tribute to the late James Caan’s greatest role in “The Godfather” and say, “Rest in peace, Sonny.”
My boss offered me a promotion. I was happy with the recognition and the opportunity but not with the compensation. Is this something I can negotiate? If not, is it ever appropriate to turn down a promotion if the amount of additional work (and headache) isn’t worth the salary?
Wow, there’s a lot to unpack there. It doesn’t sound as if you’re eager for the additional responsibility. First, there’s nothing wrong with asking for additional compensation if you can make a case that the additional responsibility is worth more than what’s been offered. Part of that case is demonstrating the extra value that you will bring. Turning down the opportunity will likely mean never getting another one with that company. My advice? If you want the job, take it for your own career development, which has intrinsic value. Crush it, and use your impact to negotiate more money at your next compensation review.
Gregory Giangrande has over 25 years of experience as a chief human resources executive. Hear Greg Wednesdays at 9:35 a.m. on iHeartRadio 710 WOR. E-mail: [email protected]. Follow: GoToGreg.com and on Twitter: @GregGiangrande
Read the full article here