Business Partners

“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 […]

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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 […]

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Post image for How to Choose a Business Partner Who Won’t [Bleep] You

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 […]

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Post image for Business Partnerships — On Video!

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!

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Post image for The Partner Principle – An Interview with Robert Tuchman

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 […]

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Post image for Why Business Formation is a Key to Your Success

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 […]

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Post image for The Entrepreneur’s Prenup (Sneak Peek!)

If your expansion plans include bringing on a new business partner, make sure you get your copy of The Entrepreneur’s Prenup: How to Choose a Business Partner Who Won’t [bleep] You! There’s more that goes into the partner-screening process than you think, and you certainly don’t want to look in the mirror this time next year, […]

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Post image for How Business Partnerships Can Be Counterintuitive

Life is supposed to be about the journey, not the destination (or so I’m told). Yet, when it comes to starting a business–or a business relationship like with business partners–what’s the best advice I can give? Begin with the end in mind.  It sounds counterintuitive, doesn’t it? To think about what could be the end, the […]

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Like many things, the short and obvious answer to the question, “can ailing business partnerships be fixed?” is . . . it depends.  It depends on why the partnership is reaching a rough patch, whether this is something that happens with regularity, and the extent to which the partners are willing or able to make […]

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Post image for Basic Training: Capital vs. Sweat Equity: What’s a Fair Buyout?

Q: I’m in a situation where one owner is an active “sweat equity” owner; the other is inactive but provides financial capital. I’m the sweat-equity owner who has put in the hours and grown the business, while the other has been gone for months at a time. I am now in the process of trying […]

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