Comments on: Avoid Business Partner melt down

By: David Hilditch

David Hilditch — Wed, 20 Jun 2012 16:09:02 +0000

Back in March I started working with two brothers, one is working full time and the other working only part-time. We figured out in advance that this was probably going to be tricky for the part-time brother and so it turned out to be although far more so than we feared.

The problem is not so much in the amount of time people have available, but more to do with the amount of ENERGY they have available to expend on a startup. You need a lot of it and it’s really very difficult to do part time.

Anyway, we’re still going strong but of course the part-time brother is simply not able to do as much as us.

By: David Redfern

David Redfern — Fri, 23 Mar 2012 11:11:58 +0000

@Wayne

without knowing the nature of your business it’s difficult to comment however I have, and am having, some experience of working with partners and joining small companies. The first bit of advice I would give is don’t be precious about what you have done in terms of logo, name, corporate identity, company formation etc. What really counts is the product or service you are offering, no amount of dramatic, clever or attractive packaging will plaster over the cracks of a lousy product or service. On the other hand, a great product/service can make a crappy corporate identity into an easily identifiable brand that people trust; it might not look good but customers care about what lies beneath the logo.

If your “dreams” revolve around a logo or name then I would have someone take a cold hard look at your motives for going into business.

Regardless of our personal desires, entering into a partnership with someone demands a degree of compromise. If this guys business is even moderatly successful and you both decide that you can bring something to the party that compliments the business then accept the compromises and get on with selling product. One important fact I used to regularly forget is that in 5 years time, having compromised and made some decent money, you can always leave the company and start yourself, or start a division within your company that satisfies your personal ambitions.

If there is one thing as certain as death and taxes it’s change. In 5 years time the business landscape will have changed throwing up more opportunities so the first thing to do is take the first step and start making some money then you have the power of choice at your fingertips. Don’t let your ego get in the way of a good business opportunity.

By: WAYNE

WAYNE — Mon, 05 Mar 2012 15:33:43 +0000

Hi there,
I am looking to go into a business partnership with someone who has started a business. I am looking to get some advice on my approach and different steps.
I have done lots of planning and most of which is with my logo and name. To go into partnership means that I have to change my plans or what??? Can some one please give me some feed back on this and how I can move forward without killing my own dreams.
T

By: Anne Jessel

Anne Jessel — Wed, 22 Feb 2012 13:19:30 +0000

Very good reading! I’m sure many business partners could equate with this.
Thank you – seeing the experience put down in writing somehow dilutes the stress you personally may feel about such situations!!
The advice is good and sound. Thank you again

By: Michael EDE

Michael EDE — Wed, 22 Feb 2012 06:42:30 +0000

This story is quite intriguing and invaluable to any business which undertakes the expertise use of a partner or individual from the scratch. Very informative and well articulated blog. I will definitely take this feedback on board and also use those strategies across our business units.