Business Partners

Post image for What to Pay in a Partner Buyout

When you’re thinking about business divorce, there are a couple of hot button items that come to mind. First, you want to know which events trigger a buyout.  The three D’s usually factor into the most well-drafted partnership agreements: death (pretty obvious), disability (perhaps less obvious–how would you define “disability”?), and dissolution (you and your […]

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Often, when a situation is just too fraught with complications and struggle from the outset, it’s just not meant to be.  But did I listen?  No.  Not at first, anyway. For the icing on the cake: I didn’t do enough due diligence to make sure I had chosen the right partner.  Here’s the kicker:  I […]

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Oh yes, there’s more.  So it’s not enough that I didn’t know the business, that I was fronting the money, and that we couldn’t agree on basic decisions.  Amazing how blind we can become whether the prospect of “easy profits” lays tantalizingly before us. Here was the final straw: The needs of one partner were […]

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What kind of a schmuck agrees to  front the money and only take 50% (me, obviously). And another lesson from the “why didn’t I see this coming?” department: We couldn’t agree on a business name.  Sounds crazy, right?  We kept going back and forth with different names for the business — Grace wanted one that […]

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I learned the hard way (see Part 2) that looking for easy money rarely brings it.  Yet another class in the School of of Hard Knocks: I was fronting all the money.  Yes, Grace and I agreed to split everything 50/50, but because of her particular work situation, she could not “officially” be listed as an […]

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Post image for How to Get Out of a Business Partnership

You can probably guess the tell-tale signs of needing to leave your business partnership (they’re similar to the signs for leaving your college boyfriend or girlfriend): Everything they do is wrong. You’re stressed and unhappy all the time. You wake up in the middle of the night with a knot in your stomach.  In short, […]

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Lest you think that only novice business owners have problems with business partners, here’s a comforting note from Robert Kiyoskai in his Cash Flow blog.  Apparently, he made some choices that he thought were wise at the time, but ultimately, never panned out into a profitable business.  He gives some valuable hints as to the […]

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It’s never a pretty sight when a business partnership has to be dissolved. Even uglier is what happens when you put in the time and effort to create a partnership agreement, only to find that the terms you included create more confusion than clarity. The cleverly-named blog, New York Business Divorce (why didn’t I think […]

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As I mentioned in Part 1 of “Choosing the Right Network Marketing Partner,” my first mistake was entering into a business that I knew nothing about (and neither did my partner).  Here’s another lesson I learned from my network marketing foible: We were in it only for the money.  I was looking for a quick fix — […]

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In his post, “Startup Founder Equity Splits,” Ryan Roberts touches on an age-old dilemma faced by many beginning entrepreneurs: “how much equity should I give to the other founders to provide me with money, contacts, or other benefits in getting my brainchild of the ground?” It’s a dilemma because many entrepreneurs want to control the […]

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