5 ms·

Why do you still work with the useless partners?

hownottowrite 5y ago
Because I have a whole bunch of employees who still like to eat and a whole bunch of customers who love what we do. If I stop, all that stops too. The state of my partnership might be crap, but the worst day I’ve ever had working for myself is still better than the best day I had working for someone else.
- hackerfromthefu 5y ago
  Would it be feasible and better to start a new business and let the customers and employees who want to migrate across?
  - hownottowrite 5y ago
    Not in this case. As Jacques notes, there’s the legal barrier but there are also a few other unique factors.
  - jacquesm 5y ago
    Not unless you like lawsuits.
    - hownottowrite 5y ago
      Precisely and when one party has a business lawyer for a sibling it gets even more expensive.
- jacquesm 5y ago
  Can you buy them out? That would be one way to kill the nuisance and find some more joy in what it looks like your self-respect forces you to do.
  - hownottowrite 5y ago
    One yes and the other no. It’s a rather complicated, self-inflicted situation. Cleaning up the mess would definitely raise the joy factor. I’ve been working for awhile to find a mutually acceptable solution but we are at an impasse. So, I can get a bigger bite of the apple but probably never get the whole thing.
    - jacquesm 5y ago
      Ok, then you should offer them to buy you out at the same valuation at which you would be happy to buy them out. And if they don't want to accept that you have to walk. Keep in mind that your loyalty to your customers and your employees can and will be used against you if you don't put your foot down and put some kind of ultimatum on the table. Then they can choose between having money in their pocket or a large chunk of nothing at all. Best of luck with all this!
      - hownottowrite 5y ago
        Thanks! And yes, that's exactly what is happening.
  - bitxbitxbitcoin 5y ago
    Alternatively, find new partners that are interested in funding the buyout. Post in Who is looking to collaborate and just mention that you are looking for deeper than normal pockets, maybe?
    - hownottowrite 5y ago
      I went this way a couple years back, but one partner is intractable.

Because I have a whole bunch of employees who still like to eat and a whole bunch of customers who love what we do. If I stop, all that stops too. The state of my partnership might be crap, but the worst day I’ve ever had working for myself is still better than the best day I had working for someone else.

hackerfromthefu 5y ago
Would it be feasible and better to start a new business and let the customers and employees who want to migrate across?
- hownottowrite 5y ago
  Not in this case. As Jacques notes, there’s the legal barrier but there are also a few other unique factors.
- jacquesm 5y ago
  Not unless you like lawsuits.
  - hownottowrite 5y ago
    Precisely and when one party has a business lawyer for a sibling it gets even more expensive.
jacquesm 5y ago
Can you buy them out? That would be one way to kill the nuisance and find some more joy in what it looks like your self-respect forces you to do.
- hownottowrite 5y ago
  One yes and the other no. It’s a rather complicated, self-inflicted situation. Cleaning up the mess would definitely raise the joy factor. I’ve been working for awhile to find a mutually acceptable solution but we are at an impasse. So, I can get a bigger bite of the apple but probably never get the whole thing.
  - jacquesm 5y ago
    Ok, then you should offer them to buy you out at the same valuation at which you would be happy to buy them out. And if they don't want to accept that you have to walk. Keep in mind that your loyalty to your customers and your employees can and will be used against you if you don't put your foot down and put some kind of ultimatum on the table. Then they can choose between having money in their pocket or a large chunk of nothing at all. Best of luck with all this!
    - hownottowrite 5y ago
      Thanks! And yes, that's exactly what is happening.
- bitxbitxbitcoin 5y ago
  Alternatively, find new partners that are interested in funding the buyout. Post in Who is looking to collaborate and just mention that you are looking for deeper than normal pockets, maybe?
  - hownottowrite 5y ago
    I went this way a couple years back, but one partner is intractable.