From Ask Entrepreneur, comes this Q&A on an issue that arises quite frequently in business partnerships: Q.: How do you deal with business partners who have a different vision for the future of your business? Read on to learn mediator and conflict management expert Dr. Eleanor Robin’s response to this thorny question!
With Valentine’s Day just around the corner, it’s no surprise that thoughts turned toward relationships. And frankly, with romantic partnerships, whether we like it or not. We’ve all heard the stories (and seen the Jerry Springer episodes) where romantic couples, having married within nanoseconds of each other, grow to realize that their partner: Has really […]
As seen in… Zsa Zsa Gabor once said, “[My ex-husband] taught me housekeeping. When I divorce, I keep the house.” But what if your house isn’t the issue—it’s your company …? Can your spouse keep a piece of it? It’s an issue that affects many small business owners. U.S. divorce rates hover around 40-50% (American […]
Want to know what can bust your business partnership? It very nearly happened to these business partners in a trendy souvenir sticker company who had different visions for the future! Tune in to my guest expert spot on MSNBC where I talked about what they can do about it, while avoiding a lengthy and costly […]
“Neither a borrower nor a lender be,” said Shakespeare (see context below) … but what about being an investor? If you’re approached by friends and family to provide your hard-earned capital to the next best thing since the Pet Rock (or, maybe, Facebook), what should you ask them before getting involved? Tune into my Watching Your Wealth interview […]
True confessions time: the last few months have been very hard because, well, for all of my desire to be the Business Partnership Expert, my own business partner and I parted company as of December 31, 2007. It was my decision. There were things in the partnership that just weren’t working, and others that I […]
In my more than 15 years of practicing law and working with entrepreneurs, I can say there is at least one bright spot in the world of business partnerships. Now, I haven’t done a formal survey or hired a company to run focus groups, but I’ll say this based on what I’ve seen from working […]
Thanks go to Lindsay Eisenhut for pointing me to Prendismo.com. They have a number of short videos on aspects of business partnerships. Topics include: Partnership benefits Challenges and pitfalls Friends and family Ownership Trust Check it out!
After so many horror stories and cautionary tales, I thought I’d share a tale of “happily ever after.” I had the opportunity to read Robert’s new book, Young Guns: The Fearless Entrepreneur’s Guide to Chasing Your Dreams and Breaking Out on Your Own, and to interview him for my Making It Legal blog. Well, you […]
I was recently contacted by an entrepreneur (“Marie”) for a “rush job”: She had formed an S-Corporation about a year ago, and now a couple of investors were waiting in the wings to take an equity piece of her company. She needed the deal signed, sealed and delivered within two weeks. Now I won’t say that’s […]