Business Partner or not

TheBest! · #1 10-05-2005, 11:00 AM

Hello Everyone:

I am here once again because I've found out that your ideas and opions have helped me tons.

This is the story:

I've been planning to start my own business about a year or so. I have the knowledge, the resources and the business plan well organized.

One person I know asked me to start a business, which shocked me because when she told me the nature of the business was the same as mine. I of course said yes to become partners and have 50% of the profits. We then agreed to start providing our services by next year.

One day she called me and said that she had a prospect customer to start right away. I told her I wouldn't start anything until next year (Please keep in mind she doesn't work, I work full-time, study and the legal process for the business with the city and state hasn't been finished yet) so I could quit my present job and dedicate to the business and school only.
She got pretty angry and said that I was been irresponsible.

That made me think:
Hmm let's see. She doesn't have the knowledge I need to have her as a partner, she is not attending what we agreed at the begining, she wants me to do all the phone calls and meetings for her since she doesn't even speak English, she doesn't have the drive to succeed.

Don't get me wrong, this lady has initiative and is a very good person. But practically I'm doing all the job because she is lost when it comes to business management and organization.

I don't want to burst her bubble and hurt her, but I want to give future customers quality service and in order to do that, I have to provide quality personnel.

What would you do? How would you tell her that she is nice but doesn't have what it takes to become your business partner?

Any opinion will be welcome.

valkyrie · #2 10-05-2005, 12:12 PM

Not. She doesn't sound like she'd be a good business partner, and it's likely you'd have tons of trouble when you both have 50% control over the business and can't agree on stuff.

TheBest! · #3 10-07-2005, 12:07 PM

I was hopping more than one reply.

Come on! I would really like your opinion.

KSUViolet06 · #4 10-07-2005, 12:12 PM

I'd say no.

AchtungBaby80 · #5 10-07-2005, 12:24 PM

I would say you might want to find another partner.

adpiucf · #6 10-07-2005, 01:12 PM

I think you should get out and run! Get another partner with at least some common sense, and who can follow the timeline you have established.

Good luck with your business! It sounds like you know what you should do. Let us know how it works out.

Alpha Sig Scott · #7 10-07-2005, 01:43 PM

What does this woment bring to the table? Not much from the sound of it. She does not even speak english

That's not good. It leaves you with having to do all the talking to customers, all the time.

As a busines owner my advice would be the same as everyone else, a big NO.

Sounds like you have a solid plan for this business. Ask yourself, do I really need a business partner? Chances are you don't if you have all the skills and resources to do this on your own.

Good luck

DGMarie · #8 10-07-2005, 01:58 PM

Have you entered into a legally binding contract with this woman as business partners? If not, then walk away. It sounds as if you are getting a very clear early signal that this is a train wreck waiting to happen.

AlphaFrog · #9 10-07-2005, 02:25 PM

If she doesn't speak English, how is she supposed to do business?

What language does she speak?

The only non-English speaker I would go into business with is my husband. But he at least speaks enough English to help customers if we went into business (we actually are thinking about in the very distant future of doing a restaurant).

TheBest! · #10 10-07-2005, 03:39 PM

Quote:

Originally posted by DGMarie
Have you entered into a legally binding contract with this woman as business partners? If not, then walk away. It sounds as if you are getting a very clear early signal that this is a train wreck waiting to happen.

No. We haven't signed any agreement concerning partnership. I didn't want to rush and then regret it.

AlphaFrog said:
What language does she speak
___________
She speaks spanish only, and even she could help out with latin customers she wants me to do the talking to "present the company more professional".
_____________

(we actually are thinking about in the very distant future of doing a restaurant).

You should consider the idea seriously, if you have the passion burning inside, it can happen. If you can dream it, you can achieve it. Good Luck!