Anyone in business partnership with someone they don't like??

[taralee]

I'm considering some work options at the moment (at least one of which is unemployemnt due to looming redundancy - lest you think i am too smug !).

One is a new job at another company which would be fine - nothing thrilling but a good move.

The other is to set up a company with some colleagues. We would have some income straight away due to existing client relationships so I'm pretty confident we would be profitable quite soon. And it could be an amzing opportunity.

The issue is about personalities. Of the 4 of us, one is a person I do not like or respect much. For complicated reasons the start up won't happen without them.

So do I go for an opportunity which could be great finacially and just make it work...or do I run screaming?

Does anyone have a business partner that they're not crazy about?

Run screaming.

A friend of mine is in this situation. There were four of them and for various reasons, the fourth guy had to come on as a partner. They regret it massively now - they don't actually need him anymore in the same way and he apparently adds no value.

Resentment is building up. I'm no tsure what will happen next...

oh god...that's eactly what i scared of!

Unfortunately it will probably be the only oppriotunity I'll ever get to have a stake in a business rather than being a wage slave for ever...

and therefore probably my only chance of being able to work less days in a couple of years time when we sell the buisiness for a fortune

But... if you don't like your partner, none of those opportunities will present yourself if you go into business with him/her because you won't feel comforrtable working less or whatever if you don't like/trust him or her.

Sorry!

Anyway you can be business owner and hire this person?

That might make more sense as a full sentence, :
is there any way you can be the business owner and hire this person?

sadly i am not grand enough to be the sole owner. The person in question is very well connected so wuld help secure investment in the first place.

What i meant re working less was that if we build it uop over 3 years and then have an option to sell back to the original investers...I could make some money and then not have to work so much.

Money eh? I've heard it can't buy happiness....!

I personally wouldn't. Business partnerships are tricksy even when you get on well and respect each other.

If the person is good at their job perhaps worth considering but if they're not definitely not.

Also selling a business is of course always the dream but i think realistically you're looking at 10 years plus before thats viable generally. So it could be a long while that you're in a partnership with someone and if doesn't work out then getting rid of someone is hard and costly.

Run screaming!!!

Sorry but it is just not worth the heartache. Another opportunity may present itself in the future and if you are tied into a partnership/company with joint shareholders you will find it difficult to extricate yourself.

My DH and I are in business with A N Other and his wife as equal 25% each shareholders. The BP's wife is one lazy cow lady and hasn't been involved at all.

I work all hours and my DH is very involved too and the BP does nothing but come up with "good" ideas that someone else (me usually!) has to implement.

You will need a BP who you can trust, communicate with on EVERYTHING and frankly if you are even asking this question before the company is formed it is doomed..doomed...DOOMED!!!

Please don't hang your hat on this as an opportunity to not be a wage slave...when you do run your own business (or part of your own business) the day to day stresses of working with others are magnified...and theres no way out.

Good luck with it but bear in mind - a business partnership is more pressurised than a marriage and your BP's don't love you!

thanks alibean.

I feel I've seen so little of the dds recently that part of me feels i sort of have a 'moral' obligation (to myself and them) to jump at a chance like this.

The biz would be half owned (and entirely funded) by my current employers. i think we would probably have an option to sell back to them in 3 years or so. I think there is a very good chance it would be profitable.

So it is the day to day emotional toll that i really need to evaluate.

LOL about eh 'good ideas' yuou have to implement! Sounds very familiar...
On the plus the other 2 partners are people i really like.