Share Your Partnership Experience

[Godspower]

But what is the cause of disagreement here when there is always a leader that will always have the final say on everything that will happen in the business organisation, if people can't obey a leader here then such people are not ready for leadership or business, unfortunately some people are just like that.

I thought in partnerships, there is always equal distribution in terms of ownership and profits. Maybe one of the reasons a business partnership usually have problems is when one partner tends to dominate the other

I don't really think there is always an equal sharing of profit in partnership business , I believe anyone who invented the business will always earn higher than the others, and in general the person that invented the business should be the one to give a final say in every decision that is going on in the business but others can give a suggestion.

If that is the case, then I believe all details regarding sharing of profits/risks must have been written down ams signed officially by both partners at the start of the business. This is necessary in order to reduce cases of disagreements.

 

[Sotherefore]

I thought in partnerships, there is always equal distribution in terms of ownership and profits. Maybe one of the reasons a business partnership usually have problems is when one partner tends to dominate the other

If that is the case, then I believe all details regarding sharing of profits/risks must have been written down ams signed officially by both partners at the start of the business. This is necessary in order to reduce cases of disagreements.

Everybody when they are partnering with people in business there is always a written agreement but this written agreement is not a guarantee that people may not rise against the business, the only important thing here is just to work with trusted people when establishing business with people...are you planning on partnership business ?

 

[Godspower]

Everybody when they are partnering with people in business there is always a written agreement but this written agreement is not a guarantee that people may not rise against the business, the only important thing here is just to work with trusted people when establishing business with people...are you planning on partnership business ?

I don't really have plans for it at the moment. I was already involved in a partnership sometime ago with a friend and everything in the business was done amicably until the end.

 

[Sotherefore]

I don't really have plans for it at the moment. I was already involved in a partnership sometime ago with a friend and everything in the business was done amicably until the end.

Wow, but if the business was really then you should have continued in the business, maybe by now both of you could have grown the business to a new height now ? Or do you really think the business was not profitable and the best way was to quit the business ?

Post automatically merged: Dec 19, 2021

I don't really have plans for it at the moment. I was already involved in a partnership sometime ago with a friend and everything in the business was done amicably until the end.

Wow, but if the business was really then you should have continued in the business, maybe by now both of you could have grown the business to a new height now ? Or do you really think the business was not profitable and the best way was to quit the business ?

 

[Good-Person]

Everybody when they are partnering with people in business there is always a written agreement but this written agreement is not a guarantee that people may not rise against the business, the only important thing here is just to work with trusted people when establishing business with people...are you planning on partnership business ?

Well, this is why I always advise people to avoid getting into partnerships with people who you do not trust. "Rising" against the business could lead to problems for the business and the business might suffer in the end.

 

[Godspower]

Wow, but if the business was really then you should have continued in the business, maybe by now both of you could have grown the business to a new height now ? Or do you really think the business was not profitable and the best way was to quit the business ?

Post automatically merged: Dec 19, 2021

Wow, but if the business was really then you should have continued in the business, maybe by now both of you could have grown the business to a new height now ? Or do you really think the business was not profitable and the best way was to quit the business ?

The business was a bit profitable but I had to leave because of pressing issues. I got an appointment elsewhere so I had to handover the business completely to him and he still managed it well.

 

[Adecyptii]

Advantage of partnership form of business is that capital,business idea and skills are put in place in order to make the business effective unlike the sole proprietorship business.

 

[Sotherefore]

Well, this is why I always advise people to avoid getting into partnerships with people who you do not trust. "Rising" against the business could lead to problems for the business and the business might suffer in the end.

I personally have seen business over here that collapses because of disagreement and the worst thing is that both people that were establishing this business are brothers, in such a situation it only require understanding between both of them and that could have just save the business that is all.

 

[Psalmseen]

Oh! My partnership experience was a very bad one. Oh my. I was the one that had the idea, then I summoned a friend to join me in the business nit knowing to me that he only wants the money therein, he has no passion for the business, I had to end it because I was the only one working

 

[Heatman]

Both partners have a role to play in the business so it's important they both play their parts well so as to contribute to the development and advancement of the business

Currently, I'm actually planning on entering into a business partnership with a Forex trading academy so that I can be able to learn how to trade on forex in a way that I'm going to be very successful.

 

[HayKay]

Though I haven't required a business partner yet but I've seen businesses that have "ghost" partners somewhat and the business is doing fine. They only get to meet from time to time to review and make key decisions in ensuring the business moves forward.

 

[Good-Person]

I personally have seen business over here that collapses because of disagreement and the worst thing is that both people that were establishing this business are brothers, in such a situation it only require understanding between both of them and that could have just save the business that is all.

Well, I think this usually happens when one partner is lazy and does not work and leaves every thing on other partners. This happens a lot and this can cause disagreement and fight. Both the partners should contribute and work equally.

 

[Sotherefore]

Well, I think this usually happens when one partner is lazy and does not work and leaves every thing on other partners. This happens a lot and this can cause disagreement and fight. Both the partners should contribute and work equally.

The problem is that someone who is lazy and is not ready to work in a business organisation will not leave and give room for other people that are very much active , but they will still wants to be there to cause a lot of problems and sometimes they are the one that make some business to collapse.

 

[CeeJase]

Partnership businesses are prone to failure due to a a couple of reasons, one is not having trust between the partner and another is trying to take financial benefits.

You actually very clear about mentioning the challenges that fixes business partnership as a result of lack of trust but once you were able to find trust within your partnership the business will always do well.

 

[Ghost]

I have never gone into partnership with anybody. But I have two friends who went into partnership, they tried to lure me in but I wasn't interested. Today they aren't even on talking terms

 

[Joy123]

Sometimes, when two people come together to form a partnership, one person would bring the money while the other partner will do the work, and they both have to sign a legally binding agreement and abide by it. With this, I believe partnership can work out.

 

[Godspower]

I have never gone into partnership with anybody. But I have two friends who went into partnership, they tried to lure me in but I wasn't interested. Today they aren't even on talking terms

It's quite sad on how their relationship have deteriorated to that extent. But have you tried to find out if their differences is as a result of the fallout from their partnership or if it is due to other reasons.

 

[Psalmseen]

Partnership is a form of business where two to twenty persons comes together to take on a business collectively. My experience in partnership isn't a very good one. I was the only one pushing and that carried the dream even up to the level of burning for it

 

[Ghost]

It's quite sad on how their relationship have deteriorated to that extent. But have you tried to find out if their differences is as a result of the fallout from their partnership or if it is due to other reasons.

Their fallout was due to the business. One of them felt the other is cheating him while the other felt he deserved everything he got. I guess it wasn't well planned out

 

[Godspower]

Their fallout was due to the business. One of them felt the other is cheating him while the other felt he deserved everything he got. I guess it wasn't well planned out

Well, it's unfortunate it had to end that way. It shows that any break in business relationship between two friends can extend into their inter-personal relationship outside of business.