Many businesses are started between two friends who trust each other because they’ve known each other for a long time. Whether your new business partner is a long time friend or someone you’ve just met, it’s always a good idea to size them up to see if you are a good fit for each other. Many people have gone to court, businesses have fallen, and relationships have been ruined because the friend turned out not to be a good business partner.
Are You and Your Business Partner Seeing Eye to Eye?
John Warrilow over at Inc.com has a great article: 3 Ways to Test Your Business Partner. Its a good reminder (and introduction for you nOObs) on how these types of relationships can get sticky sometimes, but there are certain things you can do to head it off at the pass.
If you’re in one already, it’s just as important to evaluate it and see if you’re on the same page.
Have you been burned by a business partner? What would you have done differently?
PS: I’m going to launch a new blog in about a month focused on entrepreneurship, business, and the law. Keep watch!
According to the Small Business Administration, over 50% of all small businesses fail within the first 5 years. Vendors who supply credit to these small businesses must hedge their bets by requiring that the business owner provide a personal guarantee. That is, if your business fails to meet its obligations, you would be personally ...
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"Pick me! Pick me!" Just kidding. Well, just a little.
Inc.com is one of my favorite websites to learn more about how I can manage and grow my business. One I ...
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Tags: Business, Corporation, Entities, Entreprenuership, formation, Legal Zoom, LLC, MyCorporation, Professional Corporation, Real Estate, Small Business, Small Business Administration, Sole Proprietor, Statement of Information
While there are certain legal and tax benefits for creating an LLC or corporation, there are certainly some marketing benefits to them also.
I recently had a consultation with ...
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Tags: Business, Corporation, Entities, Entreprenuership, formation, Legal Zoom, LLC, MyCorporation, Professional Corporation, Small Business, Sole Proprietor
As more and more people are getting sued by creditors, people often try to stick their head in the sand and ignore the lawsuit. Unfortunately, that won't make it go away. And if you've been sued, Sam Glover over at Caveat Emptor says to head for the nearest lawyer.
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Attention Wedding Photographers!
The summer is coming up, and that means more people getting married! I will have the privilege of discussing with wedding photographers about contracts on Tuesday, June 22, 2010 at 6:30 PM at Calumet in Santa Ana, California. The list of topics include:
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Business owners know that networking is a big part of running their own business; it's important for you to get out and meet people. However, it's not just about who can collect or pass out as many business cards as they can, but about value. That is, what value others bring to you,
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I was fortunate to have my sample answer for the 2009 July California Bar Exam Performance Test A published in The New Lawyer section of the Daily Journal last fall. I'm please to announce that the Daily Journal has also published ...
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Steve Blank has a great article & discussion on why lawyers don't run startups. While most people are only familiar with attorneys when things go wrong, there are a lot of attorneys out there that help clients wade the through their business transactions.
[caption id="attachment_763" align="alignright" width="300" caption="Is Your Attorney Helping You Find Solutions ...
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No doubt that banks are pursuing people who have short sold their homes for the deficiency, or the difference between what they owed to the bank and what ...
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Tags: Advance Fee Agreement, advanced fee, Bankruptcy, Deficiency, Foreclosure, HELOC, loan modification, No Objection Letter, Non-Recourse Loan, Purchase Money Loan, Real Estate, Second Mortgage, Short Sale, upside down
