Business Partners

Post image for Basic Training: You Only Get Hurt By The Ones You Love

Today’s basic training involves a sad story. A woman gave her heart to another . . . and to his business. What thanks does she get? She gets jilted, in more ways than one. Yet another reason to have a business prenup if your personal relationship sours.  Read on . . . Q.:  I was […]

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Sometimes, it takes a couple of bricks to the head to learn a lesson (ergo, the month-long blogging silence).  Here I am, Madam Genius, Esq., blogging about business partnerships, and I violated all my own good advice about choosing one wisely. A while back, a colleague approached me about getting involved with a network marketing […]

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Post image for Basic Training: Is My Conniving Co-Owner Embezzling?

Q: I have a business partner (“John”). He is majority shareholder with a 55/45 split. We act primarily as a subcontractor for a small number of other companies. We do not have an operating agreement. We typically travel and complete projects together. Due to a scheduling conflict, I cannot go on our next project. Knowing this, […]

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From the Department of “Was that form of exit strategy written into our partnership agreement?” comes this story from the Chicago Tribune of an Illinois business partnership gone wrong.  Apparently, the home rehab business — started by two friends — was experiencing financial difficulties.  It seems that one partner wanted to take out more money to […]

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Post image for Basic Training:  Bums as Business Partners

Q: I have an S Corp that includes myself and my partner, 50/50 ownership. I put in all the capital and do 90 percent of the work. I cannot get my partner to leave the business. What do I do? A: Whether, and how, you can “kick the bum out” depends on whether you have a […]

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Business partnerships are easy to begin, tough to maintain. (Equally tough is finding a webcam freeze frame that doesn’t make me look downright goofy). In this video, I’m interviewed by Phil Simon, technology expert, management consultant, and author of the recently-released The Age of the Platform (his 4th book). We cover a range of business partnership issues including: What prompted me […]

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Post image for Basic Training: Could An Agreement Save This Family Business?

Q: I have worked for my dad for more than a decade. He recently told me he wants to stop working but says he is not retiring. He wants to be paid the same amount of money and he wants himself and his wife to keep being covered by medical insurance through the business. He said […]

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Q: I can’t believe it–my former business partner has been smearing me around town! I was recently partnering with someone on a real estate deal. She ultimately pulled out of it, which created a lot of problems for me. Although I was really upset at the time, I took the high road, put my nose […]

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Yet another handy Q&A from Forbes Small Business, and this one featuring my colleague, Marian Banker.  🙂  What do you do when your company has expansion plans, but one of the partners refuses to co-sign a loan for the necessary funds? Other than a long, hard discussion with your partner about being aligned on goals, […]

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I’ve written a lot about choosing the right business partner, but as I was trolling the Internet, perusing article on the numbers of people laid off and contemplating entrepreneurship (whether by choice or by default), the thought struck me: Your “home office” environment is a huge factor in the success (or failure) of your enterprise.  Melinda […]

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