My nightmare with a business partner

[Maskyy]

The same manner 8am to 5am job can be worrisome, partnership business is not excluded.

One time there's talk on dividend, and another time one tries to respect another opinion.

I had different business partners and experience in the past. No lies, it was an interesting time for me as I succeed more in partnership.

Something happened; Expansion.

Once the business start expanding, there is this kind of unknown thinking and doubt that flows in the partners.

Truth is, I never experience the bad side.

Is it an issue or just my person.
I hardly want to work alone in business. My success soar high more in partnership but the worrisome of my partner if it arise and future made me unrest and uncertain about it.

What will you advice me? Should I start a company with a partner or work on myself( I'm not confident about this).

 

[Lyrrex]

Instead of going to start up a business on your own I think right now you should first deal with insecurity

 

[Maskyy]

@Lyrrex I totally understand that. But I'm this person that get attach to people easily.

 

[WhiteHouse]

Need not to worry, you need to get in partnership with someone you trust and think is honest and besides there will be a contract signed on how things should be run, that should be your protection

 

[Maskyy]

@WhiteHouse I agreed with the legal part.
That's Sir Fela on Yo dp. You've gt to pay for that ?

 

[Josemendez]

The fact is that the attributes of the person you intend to start partnership with matters alot. Then , understanding is an important attribute the two parties need in order to operate peacefully. Having a legal back up is also a good thing to do .

 

[ahmedo24]

If partnership had been working effectively for you and you don't have challenges, work on your mindset and ideology, ensure legal frame work on your partnership business , work with reliable people. Partnership is interesting.

 

[Maskyy]

If partnership had been working effectively for you and you don't have challenges, work on your mindset and ideology, ensure legal frame work on your partnership business , work with reliable people. Partnership is interesting.

Yessss very interesting. Sharing idea, talks about the business movement, laughter on the bad days together
I will work on it . thanks

 

[kharvest19]

From experience have learnt to deal on my own in business
Money and power change people

 

[Setho]

Building a relationship with someone before hoping in to start a business together is very essential. I think you should deal with the insecurities and try to create a good relationship.

 

[Nurudeen]

From my own little experience about partnership in Business, it always go wrong at the end of the day most especially when your partner doesn't trust you with finance and he or she feels you are the one taking the large part of the profit

 

[Alexandoy]

I had a very bad experience with a partnership. He was my best friend in high school. Even if the business was under my name as a single proprietorship we are partners in principle. Yeah, I could scam him but I would never do that. Unknown to me he registered his own proprietorship and pirated our major customers. That was so painful to me that I always advice for newbies to go for single proprietorship... never a partnership.

 

[Suba]

The partnership business will be mutually beneficial but sometimes it will cause conflict if at the beginning there was no agreement and division of duties and authorities, founder and co-founder, so that no one only works, while the partner only takes advantage.

 

[ahmedo24]

The moment all responsibilities are well documented including profit sharing margin and other key decision are well documented then each partner is committed to signing it with third party in place every thing can be handle regardless.

 

[Kamon c4]

The question now is; do you have equal shares with your partners? Partnership can be at disadvantage in many ways than advantage. You’re trusting soomeone with the company’s funds that’s a risk on its own. You’ll need to employ board of directors who assess each decision before implementing them I think that’ll help in decision making

 

[WhiteHouse]

This is the truth of the matter,you should check on your insecurities and get relaxed.
Again you should do that kind of business with someone you have known so well and a trustworthy person
That way you won't have insecurity troubling you

And not to forget there should be a written contract signed, where all rules and terms will be stated There.

 

[Maskyy]

The question now is; do you have equal shares with your partners?

From the previous ones. Yes we had equal share because of equal task.
But how do we talk or handle it if my task efficiency is lower to my partner.

 

[Niftyyem]

From what you have stated, you are more successful in partnerships. So, I see no reason for you to stop doing what has been working. Just ensure all the legal works are done and trust between you guys is intact.

 

[Venant]

That's why one needs to get a partner that shares the same objectives and creative mindset before venturing into anything of such. Most times the problem is lack of communication and trust between the two parties.

 

[Isabella]

I had a bad experience with my partner. He learns everything from me and then broke the partnership. He stole my all clients my business isn't running good now. I suggest you to work alone or they may backstab you