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Old 02-11-2006, 04:55 PM   #1
Rui
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Business Partnerships yes or no?

What do you think of business partnerships, the pros, the cons..

basicly the good ,the bad and the ugly in your opinion (and if possible experience).

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Old 02-11-2006, 05:00 PM   #2
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they are just like marriages. some are good, some are bad, and some are downright deadly.

might want to know your partner well before going into business. kind of like dating before marriage.
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Old 02-11-2006, 05:01 PM   #3
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Quote:
Originally Posted by paotw
they are just like marriages. some are good, some are bad, and some are downright deadly.

might want to know your partner well before going into business. kind of like dating before marriage.
Well yes, thats a given...teaming up with somebody you don't know nothing about in a partnership is downrigth stupid...

Tho if you know that person too well or are close to him/her it can also raise many other problems...

double-edge sword
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Old 02-11-2006, 05:24 PM   #4
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Just make sure what the other person is bringing to the partnership is equal to what you are putting in.
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Old 02-11-2006, 05:29 PM   #5
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Quote:
Originally Posted by Pornwolf
Just make sure what the other person is bringing to the partnership is equal to what you are putting in.

Somethings its hard to evaluate since many partnerships consist in one part bringing the know-how and the other the bling bling ;)
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Old 02-11-2006, 05:33 PM   #6
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never worked for me
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Old 02-11-2006, 06:14 PM   #7
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never worked for me
care to elaborate?
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Old 02-11-2006, 06:18 PM   #8
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I've never had a partnership that's worked out. In general, I'd only consider it if its absolutely necessary.
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Old 02-11-2006, 06:19 PM   #9
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Originally Posted by WiredGuy
I've never had a partnership that's worked out. In general, I'd only consider it if its absolutely necessary.
WG
I have another thread in mind that will fit like a glove to somebody like you
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Old 02-11-2006, 06:20 PM   #10
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Partnerships will work out as long as you can share the workload and know how to share the profits according to that. If not, they are fatal.
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Old 02-11-2006, 06:21 PM   #11
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Quote:
Originally Posted by Rui
I have another thread in mind that will fit like a glove to somebody like you
Only other thread I saw was your ICQ one?
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Old 02-11-2006, 06:22 PM   #12
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Only other thread I saw was your ICQ one?
WG
I said in mind, as in "not done yet"
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Old 02-11-2006, 06:44 PM   #13
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Well remember any equal partnership means splits of profits, that 3 million dollar profit a year is not looking so good when it has to be split 3 ways.
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Old 02-11-2006, 06:46 PM   #14
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Partnerships never work for me either...
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Old 02-11-2006, 06:59 PM   #15
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Quote:
Originally Posted by bigdog
Well remember any equal partnership means splits of profits, that 3 million dollar profit a year is not looking so good when it has to be split 3 ways.
hehehe well when u put it that way ... 3 way split with 3mill still looks
good , a smaller amount for an example would be less appealing
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Old 02-11-2006, 07:16 PM   #16
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As long as everything is written out in terms of who does what, when and how often you shouldnt have a problem.

That being said, we've had 50-50 luck with biz deals in the last 5 years, thankfully the 50% of them that worked, really worked well but, just like anything else, make sure you do your homework before commiting to anything solid contractually

Regards,

Lee
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Old 02-11-2006, 08:18 PM   #17
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It's usually a bad idea, no matter how fair you setup the terms of the partnership, 9 out of 10 times the other person will feel he deserves a bigger piece of the pie...
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Old 02-11-2006, 08:31 PM   #18
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From my experience....
If you are a rock-solid honest person, and you *know* that the other party is as honest as you are - then go for it, being aware that there can always be unforseen events that make things very difficult, but that the other party will do their best to make things work despite that.
If you don't know the other side well enough to *know* that they are completely honest - or if you're looking for an "advantage" in the relationship, then, as Alton Brown says, "walk away. Just walk away."
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Old 02-11-2006, 08:48 PM   #19
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Quote:
Originally Posted by paotw
they are just like marriages. some are good, some are bad, and some are downright deadly.

might want to know your partner well before going into business. kind of like dating before marriage.
very well said
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Old 02-11-2006, 09:07 PM   #20
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In most cases i'd say partnership is a bad idea. But in the cases that it's a good idea, it's usually a really good idea. Me and my partner Mason work great together and have both contributed an equal part to the rapid growth www.TrafficGigolos.com is seeing.
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Old 02-11-2006, 09:11 PM   #21
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With the right person a partnership can be good.
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Old 02-12-2006, 05:07 AM   #22
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hehehe well when u put it that way ... 3 way split with 3mill still looks
good , a smaller amount for an example would be less appealing
I should of said 1 million split three ways
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Old 02-12-2006, 05:43 AM   #23
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If you can't see a partnership as a potential win-win situation, then it shouldn't be considered to begin with. Most of the time partnerships occur when both (all) parties see the potential of bringing things to a new level, with the help of each other's resources. Say one person is sitting on a lot of knowledge, but quite little time and not enough capital. Then the other brings in some human capital, as well as the finances. You sit down together and see a synergy effect emerging out of working together, since the first person may not necessarily have the time/money to grow to a new level organically, whereas the second may not possess enough knowledge and experience.
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Old 02-12-2006, 05:45 AM   #24
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Most partnerships does not work out, but if it works out and several partners working together on a common project normally inspires creativity and makes people work harder...

It's also good if partners has different personalities. Two alpha males will NEVER make a good partnership, where a diplomatic, easygoing person will work perfectly with a more leader type person...


As several other people wrote, get to know your future partner before going to bed with them
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