My nightmare with a business partner

[Maskyy]

Lot of insights here. I will go through everything. And I'm still learning with your response.

 

[James]

I have seen many times that if you start a business in partnership, it often ends in bad relationship and it will impact on your business. So it is always good to do your business with your own.

 

[Popular]

If you are not financially stable, partnerships would go a long way in helping your business stand. Just get someone who is trustworthy so you do not end up regretting.

 

[adazeez1995]

Trust is a major determinant for a successful partnership business. If the business would stand the test of time, both partners have to be sincere and selfless. The question is, do you trustthis individual as a business partner? If the answer is No, just ditch the idea of working with them.

 

[Dorcey]

I don't really like partnership in business not because It not advisable or a everyone sees it as a bad idea but I don't just like it because I don't believe in partnership in business and it attracts bad thoughts to each of the partners, though partnership makes work easier.

 

[nasiusman95]

Once upon a time, after working very long days and weekends, I concluded I was more than ready for a business partner. I felt a partner would divide the workload, add new skill sets, contribute to the vision with new ideas and insights, increase capital, and add new contacts, clients, vendors, etc. Seems reasonable, right? Yes. But easy? Not so much. Despite all the available advice sometimes you just have to learn the hard way -- and I did.

I engaged with multiple potential partners in my quest to find the right fit. Like a marriage, partners start off exciting but then the shininess wears off and you get to the real stuff. Some work, and some end up in court. I learned just how important it is to know everything about a potential partner -- from finances to family to compatibility.

 

[Milz]

Some persons work best when their partnership with one or two persons. This is a case of low self confidence and you should work on that. If the person you are seeking to partner with is someone you can trust in your business venture I don't see a reason why you shouldn't begin the partnership.

 

[Donkiz]

The advantages of having a partner in business are shared responsibility, having more fund to upgrade and improve the business, having another opinion and voice when it comes to making decisions, sharing of loss in case something goes wrong. Despite all these advantages, I will still advice anyone that wants to go into business to start as a sole proprietor if you can.

 

[Ridorz]

There is nothing much bad in doing a business with a partner, but the kind experience you have a bout business partnership may not be the experience of other people. And ad you said you have already adapt to partnership business, I will advise you to find trustworthy person to start Business.

 

[Obaterof]

There’s no worse feeling than being stuck in a business contract with a bad business partner. At that point you’ll be dying to know how to get out of a bad business partnership

 

[Shayo]

You already have the experience and it seems you prefer partnership in your post so go for partnership. Having or working with partners shouldn't be a problem, it should be an advantage. Problems arise when there are no clear role specifications, each partner should know their role and place, this will prevent crossing of paths.

 

[Ibrahim1]

As for me I will use the nightmare against him because working with a business partner is very risky because I don't trust them and also it's just easy to walk down to pray about it also seek for advice from pastors and businessmen people who as had experience about it also

 

[Sariana23]

From what you describe in your thread, I can understand that you like and feel comfortable working in partnership. Maybe that is the push you need to keep moving forward, so I suggest you continue partnering, since you have done well despite the doubts you presented at some point. If you were successful, I am sure you will continue to be successful.

 

[Dowenship]

Hmm... from the pulpit this morning the preacher was talking about partnership! He said once you enter a partnership with anybody, you have doubled your problem and you halve your profit. Just Take it like that.

 

[Mawome]

Well I have some questions for you, how well do you know that your business partner? Do you see him as a diabolical person? Have you had any issue with him before? Find out first before you can venture into business with him ok? I always tell my friends that their enemies are not far, they are within.

 

[Shivay]

The same manner 8am to 5am job can be worrisome, partnership business is not excluded.

One time there's talk on dividend, and another time one tries to respect another opinion.

I had different business partners and experience in the past. No lies, it was an interesting time for me as I succeed more in partnership.

Something happened; Expansion.

Once the business start expanding, there is this kind of unknown thinking and doubt that flows in the partners.

Truth is, I never experience the bad side.

Is it an issue or just my person.
I hardly want to work alone in business. My success soar high more in partnership but the worrisome of my partner if it arise and future made me unrest and uncertain about it.

What will you advice me? Should I start a company with a partner or work on myself( I'm not confident about this).

Well , if the partner is very close to you or your family member then you should definitely go with the partnership as you both will get equal share of profit and losses and both of your liabilities will be unlimitted.

 

[Maskyy]

Well , if the partner is very close to you or your family member then you should definitely go with the partnership as you both will get equal share of profit and losses and both of your liabilities will be unlimitted.

I really want to agree with you on this. Family partnership is fine but, yeah it's OK.

 

[Taimoor Jutt]

I go through this article written by you. Yes almost every point you are right so there are always some advantages and disadvantages in partnership of Business. But this all depends upon the partner you have. If he is sincere then he will lift 50% of burden and responsibilities from you. But if not then you would face problems.

 

[Keibah]

If your see still having doubts, I think you should continue work on your own. Trust is something that strengthens partnership and if it is missing, there will always be tension.

 

[Ryeetar]

This happened some years ago, I went into partnership with one of my friend though we have known long enough but I guess in business that is not a criteria. After opening of the business we were into buying and selling of home appliances, I was in charge of buying while she was in charge of selling after I must have gone to the market to get the materials waiting for her to go and supply them she would sometimes spend month before finishing supplying not as of business wasn't moving but because she was lackadaisical about it.