I launched Alchemy Networks, a digital unwired network for urban lifestyle and celebrity entertainment, in 2011, and chose my longtime friend and co-worker, Xochil Arkin, as chief operating officer.
When it comes to working with friends, the good outweighs the bad, but you can carry the weight of the business into your personal life. For example, we had just acquired the television show Soul Train, but disagreed on the next course of action. We had dinner as we normally would, and continued the conversation. In our 15 years of working together, we usually reach accord. This time we didn't.
The next day, in front of the staff, it was as if we were playing out the dinner conversation. They looked confused, unsure which side to take. They were unwilling to speak their minds, which is needed for a startup. We blurred the line of friends and colleagues, and realized the mistake.
We have learned we can resolve business issues in casual settings, but we adhere to professionalism and hierarchy at the office. We've found that works better. Also, I've come to realize that friends grow professionally and personally. The trust you place in them has long since been earned, but you have to look at who they are today.
