Business Partners

silvertree

After almost 12 years in a business partnership, it's over. I kept the company I started. It's a relief. Business is good, it's nice being in control. There is more to do and I'm spending more time in the office but I can see where that will get easier. Reasons for the breakup were anywhere from me being the only one to continue with education for the business to his glass was half empty while mine was half full. Any others out there that have been through this, and if so what helped you get going again.

ponch37300

I had the same thing happen to me. When i first started i had a partnership with a friend. I thought having two of us would bring twice the experience and be able to do two times the work, and have half the start up costs. It only took about 6 months to realise this was a bad idea. We had worked together before but it's different once you own a business. He would show up when he wanted with all kinds of excusses why he couldn't start before 9 and had to be home before 4 and couldn't work weekends and took several days off. He smoked, which didn't bother me, but he would take several smaok breaks each day that would last 20-30 mins each. If i haven't done something before i will research it and decide weather i believe i could tackle it or not before commiting to it. He would just tell the customer we could do it and he would try to wing it. one example was glass block shower wall. We had to do three times before HO was happy, we lost our *ss on the one. I would spend hours each day after work doing the paperwork, educating myself on new building ideas and learning how to do new things, learning how to run a business, estimating, buying materials, all the extra things that neeeded to be done while he would be at home getting half the rewards. He basically wanted the nice paycheck but didn't have the hard work attitude you need to start up a business and didn't want to put in the time needed. We went our seperate ways and last i heard he is filing for bankruptcy. You are better off on your own in my opinion. Some times people get lucky and business ventures work out and are a good thing but it seems more times than not there are to many things in owning a business that the partners butt heads on and it comes crumbling down. I used that as a learning experience and it worked out good for me in the end.

Mike Finley

Been there and done that.

Partnership was cool in the beginning, nothing better than an ally in the beginning when times are tough and you are struggling to make it all work. You both pitch in and it's nice to have somebody to fall back on.

Problem for us was we were in a very competitive business where we needed to expand and stay on the edge to compete. Once we got to a certain level my partner just wanted to maintain and enjoy the good life.

No matter how many warnings I gave of how we can't maintain, we have to stay ahead or we will get left behind he didn't seem to care. He was making more money then he ever had in his life and was happy to just milk it.

Eventually the market passed us by and he milked it right into the hole till he had nothing.

Tom Rohland

BUSINESS PARTNERS????????

I'd like to fine one!!!!!!!!!!

COMPATIBILITY............

Agree on long term goals.........

Comprimise..........

Win-win for everyone.........

Team players only............


Tom Rohland, Jr.
Ranger Painting & Pressure Cleaning, Inc.

The Personal Attention Your Home Deserves

woodmagman

Partnerships are like marriages, when they are good they are very good and when they are bad they are very bad.
Read any book or study on marriage and apply it to business partnerships….The only difference is when you go home at night….unless you’re married to your business partner. If that is the case I hope they are not your lawyer as well.

wizendwizard

Personally i want no part of a partnership, wouldn't mind some investors though!!

silvertree

Yeah, I'm pretty much over any regrets, and I think those of us that have good partnerships, good for you, and to the partners that didn't work out, live and learn cause it's time to move on. The hardest thing for me was wanting to be one of the best and the partner wanted to be paid the best without being the best. We did very good work, it was always a struggle to keep that level of concern going. I must be a masochist, I still like my job.

Flacan

Was a partner with someone for close to 9 years.

I left, because I was was the one who couldn't take it any longer. The other partner stayed, but eventually shut the main phone line because he was getting too many calls (if only I had known that's what he'd do- I would have paid for that phone line - so now we were both losers). He eventually went to work for others who had originally worked for us - his 2 main sources of work both started out working for us.

Never again will I partner 50/50 with someone. As others have said, it was nice in the beginning. Take it from me, you can never know someone well enough to predict what they'll do in the future.

__________________
Raimo Kumpulainen
Those who don't remember the past, are condemned to repeat it.

Ed the Roofer

I don't know how long the remaining business line has been shut off, but they have to keep it available for one year, without giving it away to somebody else.

If it is just over one year, you could probably request and get that phone number back for your own usage.

Ed

Susan Betz

I'm married to my business partner. Neither of us are lawyers. It's working out well so far.

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Fences of Distinction, Ocala, FL
http://www.fencesofdistinction.com

curapa

I have a business partner right now, 4 years and going. I sometimes think of the benefits of being solo with a helper but I will admit it is very hard to organize paperwork, bid jobs, schedule jobs, talk to customers and actually do the work by yourself. I have seen the best of friends and even brothers ruin a partnership. Right now my partner and myself are happy so I guess we'll ride it out till the end.

If anything you have to admit a partnership is a good stepping stone into a business of your own.