Quote:
Originally Posted by Barefootsies
I've toyed with the idea of bringing on a business partner, or a more vested long term profit sharing but... they have to bring something to the table. I.E. skills I do not have, but fill a void. Or a chunk of cash to buy in.
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Have to say Barefootsies - if the initial desire/motivations of a potential partner are good, honest, transparent and they do bring something to the table via qualification - this can be very good. It may be luck more than anything, but never had any problems with partners/co-directors - they are all fundamentally honorable people with at least basic business accumen and bring their own experience/expertise into play.
It may only be my
, but can't see a lot of advantage in having a partner who just dumps finance into a biz and does little else - what is more relevent are more rolled up shirtsleeves attending to whatever aspects need managing/developing. If someone wants to dump funds into a company and get shares - different matter - they can be dealt with along with other shareholders - but they are not really "partners". It's better if folks can actually offer some work towards the development/profitabilty of a corp.
It can be hard sometimes getting the right people to be partners/directors. It's a balance of keeping the wrong people out - tho they may appear very interested in working - there are plenty of them :-) There are also professionals (lawyers etc) who are interested - but, can you work with them and how good would they actually be etc?? Got one scenario now where the company is sitting on assets worth millions (no capital injection needed) and plenty opportunity to expand that greatly, but the problem is getting the right people who are honest, willing to work and can bring something to the table. It's hard to believe it has been so difficult to get that team together - appears to be a new trend in folks re "how not to work"
But.. it's getting there - slowly.