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June 27th, 2011, 04:56 PM #1
Partner up with someone
- Join Date
- January 3rd, 2011
Hi. I am just starting in this busniness and have som good ideas of my own. However the thought has come up wheter partnering up with someone and building a site or multiple or a whole business togheter might be a good idea. To use the combined knowledge and creativity and time to build to do more and better than you could on your own.
What are your thought and experienses with this?
How do you set up the agreement and who handles the accounts and money etc..
I have contacted a pokerplayer who was looking for help to build a site, I have talked to him some about poker over a year ago, he is a bussy longtime pokerforum poster and has worked on improving and climed the stakes in poker since I first talked to him and is very nice and helpfull to people. What i am trying to say is as far as people you only met online goes he rates pretty high in my book for trusthworthy.
Okey so hit me with your experiense and thoughts
June 27th, 2011, 08:15 PM #2
Here's what I've learned:
Money always separates people, no matter the day or what the contracts say.
The pokerplayer reference was so left field, that all I could pull out of that was that you trust a guy who you haven't met in person and that he bluffs and gambles for a hobby/living? (Ain't nothing wrong with poker players!)
My advice is to build your business venture on a rock solid foundation, so you can keep building on it, not repair it as you go/grow.Continued Success,
The secret of success is constancy of purpose ~ Disraeli
June 27th, 2011, 11:16 PM #3
Partnerships always seem like good ideas in the beginning. But they go to hell in a handbasket very fast.
I suggest that you plan to start multiple ventures at once with said partner. Each of you has a project, and gets help from the other person on your project. Make the ownership of each site very clear. Make the site owner get the majority of the money, and the partner get the minority. See how that works for three months. Make an appt to revisit it again when the three months is up. Make a point checking with the partner on a regular basis to see if they are happy with the arrangements. Take backups so if one person decides to screw over the other there is always an offsite copy of all data and files.
August 31st, 2011, 03:20 PM #4
To Partner or Not?
- Join Date
- August 31st, 2011
This is in response to the question on whether to do solo in starting a business or have partners....
There are definately some advantages of joining forces... Saves time and effort. By joining w/ someone w/ skill sets that compliment your own, you suddenly have the ability to do much much more in a shorter time period.
That said, there are drawbacks...
First and foremost.... make sure the partners u choose are of the same mindset and work ethic as yourself. I have seen from experience what was on the surface a great partnership fall because one or more of the team did not do their part of the work or to the level of expertise as others...
Have a clear understanding of what is expected and if not delivered, have a way out.