Thursday, January 30, 2014

Floyd Mayweather Investing In Friends Businesses But Is He Making The Right Choices

Floyd "Money" Mayweather

Championship boxer, Floyd Mayweather, announced on Twitter that he believes in investing in the businesses of friends, who are loyal to him. It’s a nice idea, but is it a good one. What if one of Mayweather’s friends wants to start a business to make sandals for kangaroos, will Floyd throw his money away out of loyalty.

Floyd Mayweather is bankrolling a cosmetic line by his pretty massage therapist

It’s great that he wants to help his friends, but business and friendships have to tow a well-defined line. Getting in business with friends can destroy friendships and finances. To make a business and friendship work, there needs to be clear lines and the understanding each party must act impartially and do what’s best for the business to benefit all involved. It can’t be one-sided. Not to mention, the business idea and plan must be a solid, potential moneymaker, because let's face it, some business ideas are not potential profit makers.