This might surprise you. Compensation does not have to be equal in a 50-50 partnership. You can, in fact, do anything you want as long as it’s agreeable with your partner or partners. Read on!
When business partnerships go bad, very often someone wants out. That starts one of two possible processes. The business enters Wind Down and begins the process of closing or the partners start discussing a Buyout.
Even when people get along well, having one partner’s relative handling the books just isn’t good policy. There is an inherent conflict of interest.
There are many things to cover in a solid Partnership Agreement. In this video, I’ll explain the items that need to be covered. You may have other items to include as well. Keep in mind that there are many ways to address each clause. My job is to offer you options and to help partners agree on how they want to address every line item.
5 Steps to take when business partners disagree. These steps work and could save your business. Step 1: Ask Yourself if this is Worth a Disagreement?
We must always balance being too negative or too positive and make certain we are being realistic. Furthermore, we need to be careful that we convey that reality to others.