Business Partners

When the American Colonies declared their independence from the British crown on July 4, 1776, they also came together as the “thirteen united States of America.” So when times comes to declare your independence from the tyranny of unsatisfying work, will you join forces with another? If your thinking of forming a partnership, here’s a […]

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Such a saga!  Here’s how it ended: Grace finally confided that had changed her mind and she didn’t want to be involved with the network marketing organization.  But, if I still wanted to go forward with it, she’d do so, because she promised me that she would. I told Grace that if she really wasn’t […]

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From the other side of the globe, I came across an interesting post on “Mixing Business with Friendship,” which adds a slightly different nuance to our earlier friends and family post.  It agrees that “[n]o one can be a partner, simply because he or she is your friend.”  It also points out how deceptively comfortable […]

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Well if this just isn’t the week for Beatles songs!  Justin Knowacki has a post on getting by (or not) by doing business with friends, which brings up an excellent subject:  should your friends (or family, for that matter) become your business partners? The short and obvious answer is . . . it depends. As […]

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I heard a sad story this week — a Tale of Two Business Partners.  One made clothing designs; the other supplied the money.  One was optimistic about the new awards she had won and where the business was going; the other wasn’t.  One wanted to continue to move forward; the other wanted to wait and […]

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It surprises me how many business owners have knee-jerk reactions about choosing a business partner, instead of thinking long and hard about who would really be the right fit for them (then again, how many of us really do that in our personal lives . . . but that issue is beyond the scope of […]

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Post image for Reasons Not to Rush into a Business Partnership

Not that I’m a big follower of the Kardashian sisters, but it always amazes me what people will stoop to for fame.  Take Khloe Kardashian’s shotgun wedding to L.A. Lakers basketball player Lamar Odom.  Apparently, after a one-month romance, they timed their 2009 wedding with Kardashian sister Kourtney’s pregnancy—so that they could be aired in […]

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What’s the key to making partnership agreements true living, breathing documents?  They need to strike a good balance between setting firm procedures while allowing for flexibility in the way your business grows and changes. Not an easy feat. One of the significant ways you can ensure a good working relationship with partnership agreements is to […]

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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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