moonchild
VIP Contributor
A lot of businesses are ruined because of partnership and this happens because the other partner is not putting in the same effort as the other, this is totally avoidable if initially terms and conditions are discussed and agreed upon.
Partnership albeit is one the reason why companies succeed and build billion dollars success, there are a lot of benefits in having a partner.
To avoid having problems without your partner, first you have to discuss, it's actually like marriage, there has to be a courtship, measure what each is bringing to the table and if they what each is looking for, and make sure this box is duly checked.
After this, what come next is to draft terms and conditions and get a lawyer, getting lawyer is not really a big deal, just convince one and pay him to be a legal consultant.
From here most the work is done, If you feel your partner is not putting in the required work, you can refer him to the agreements and if nothing is done, you can go ahead and terminate the partnership amicably and you will still maintain the friendship, instead of putting the company in jeopardy, if it goes well then it's a win win for both.
Partnership albeit is one the reason why companies succeed and build billion dollars success, there are a lot of benefits in having a partner.
To avoid having problems without your partner, first you have to discuss, it's actually like marriage, there has to be a courtship, measure what each is bringing to the table and if they what each is looking for, and make sure this box is duly checked.
After this, what come next is to draft terms and conditions and get a lawyer, getting lawyer is not really a big deal, just convince one and pay him to be a legal consultant.
From here most the work is done, If you feel your partner is not putting in the required work, you can refer him to the agreements and if nothing is done, you can go ahead and terminate the partnership amicably and you will still maintain the friendship, instead of putting the company in jeopardy, if it goes well then it's a win win for both.
