Thread: Business Partners Pros n Cons

How many of you have a business partner? What do you think are pros and cons. In a few days once my situation is cleared with lawyers I will type up my story and why I now understand why my father said Business partners never never have one. Do it alone and you will be happier. This is for one my other business I have a partner in which is a different person and mindset then this current business partner.

Pro.
-Someone else to take on the work/ financial load
-Two minds are better than one
-Someone to push you when you get lazy
-Connections

Con.
-Profit splitting
-Ideas must go through both sides to get approved
-Different people have different goals

In the end, business partners are good as long as you are compatible. IAMSTEPHEN and I own a company together and everything has gone really well between us. You just need to find the right person that can mutually hold their weight.

Well on my other business I have me and him work great together idea wise, money wise etc... The current partner wasn't something I asked for I sort of inherited after my Fathers passing. Since the day my Father passed away he has been on prowl to remove us(My mother and I) Let me say again, tomorrow I when legals are cleared this will be a good L4P story.

Being in the entertainment world, I have to say working alone is best for me. My years of making videos and producing, if you want something to look a certain way, you must do everything yourself. I worked with one of my best friends for 3 years and we had the same mindsets and our prjects were great but something was always not as good as I wanted it so I started alone and it all is working out great! It depends I guess on the business and industry

Originally Posted by Adrenaline981

In the end, business partners are good as long as you are compatible. IAMSTEPHEN and I own a company together and everything has gone really well between us. You just need to find the right person that can mutually hold their weight.

This.

I also had a business partner ... but had to let him go. Long story short he tried to steal my 50 percent of the company.

Lets just say my story is going to be a good one, from lawsuits and accusations, to the lies, 5 lawyers on my team to a final buy out. This is what made for tv movies are all about. lol

You get clearance yet to let us know what went down??

Cons: Not responsible, especially if this is a partner your invested with, which is my case. I may have to take him to small claims.

You'd think the person getting money from the other partner would make them want to bend over backwards to please you. Nope.

I did twice. Both companies didn't succeed as we weren't on the same page. One was lazy as hell, the other was also lazy and ended up leaving the country for a year deployment and didn't want to have much to do with it at that point. Both were good ideas just the wrong people.

Some day I'd like to work on one of them as it was a safety and risk management company and we were working with a pretty heavy insurance company. The product was perfect and it just went away with my partner. He was also a really good friend and we've never been the same since.

As of right now this is over withn 2weeks he has put a cash offer on the table, we want more for everything he has done. I will try my best to summarize the story on here but it is tough this is 6months of litigation, 2yrs of corporate BS. But everything ties into its self.