Business Tips by Chris Reich
Tips from growing a business to dealing with disputes
One Partner Wants to Dissolve Our LLC
The answer is YES under certain circumstances. If there are two equal partners in the LLC and one of them wants out, dissolving the LLC is an option.
What to Do When Your Business Partner Takes Money Without Talking to You
No matter how small the amount, taking money without talking without mentioning it is serious because it breaks trust.
How to Split a Business When There Is No Partnership Agreement
Two people show up in court fighting over the proceeds from the recent cash sale of their small business. Let’s call them Bob and Alice. There is no Partnership Agreement.
Get a Partnership Agreement NOW and Do Not Use a FREE Template
If you do not have a Partnership Agreement with Buy/Sell provisions, you are missing something that could protect you in the future. Don’t wait another day. Call me and get this done.
Partnership Mediation, Arbitration, Litigation, Negotiation and Best of All, Moderation
If your business partnership is breaking down, you have a number of possible ways to get it cleared up. In this post, I will offer you an explanation of each. Keep in mind that these aren’t just different styles to reach the same end. That said, as Stephen Covey would say, “Start with the End in Mind.”
What To Do When You Cannot Get Out of a Bad Business Partnership
If you have fallen out of like with your business partner, you have a lot of very careful negotiating ahead of you.
You Cannot Walk Away from a Sour Business Partnership
Before you do anything about your soured partnership, review your organization documents. Take a look at the Operating and Partnership Agreements to see if you have provisions for a voluntary exit of a partner.
Talking to Crazy: Dealing With an Irrational Business Partner
There are cases where one partner will not accept anything offered in order to make peace. That is irrational behavior.
Time Is Entropy
Entropy may be the most important word you’ll ever learn in business. Entropy matters. Right now, it’s eating your business.
How to Get Out of a Business Partnership
The 2 big issues related to getting out of a business partnership are getting agreement on the price you desire and protecting you from liability. If there are no executed agreements in place, be very careful with how you proceed in your negotiations. It’s a good idea to get an adviser on board.
One Sided Dialogue
This is what happens when dialogue is one sided. There’s more than just a parody of Copenhagen here. Similar conversations take place at businesses every day.
Family Business Partnership Problems Are Different
A family business partnership has unique issues that sometimes cannot be fixed. Even the most hostile business partners will listen to reason.
YOU Did an Amazing Thing So Don’t…
Starting a business is one of the hardest things to do. You did it! But you are having partnership problems. Relax, we can fix that.
Family Partnerships Need Good Written Documents
If you are starting or are already in a family-owned business, it is very important to define all aspects of the partnership. Be sure to clearly define the distribution of ownership and specify how partners are compensated.
But My Partner Did It!
Is your business partner in charge of the books? What if he doesn’t pay the taxes? You bear equal responsibility whether you know what’s going on or not.
How to Handle Problems in a 50/50 Business Partnership
What if you are already in a 50/50 partnership and things are getting rough? Relax. Your partnership can be fixed.
6 Most Common Business Partnership Issues
Even though I am presenting you with only 6 causes of partnership problems, there are others that can hurt a business. See if your problem is on the list.
Looking for a Business Partner? Why!?
According to Google, “looking for a business partner” is one of the most commonly used search terms. Are you looking for a business partner or an investor? If you can make it alone, you should do so. Read why…