Let the Business die to get away from these “Partners”?

1 year ago, I entered into a handshake partnership with 4 guys who I had previously done commission based work for.

We meet, I talk about what I am currently working on (This related to the commsion work I did for them prior) they offer “partnership” 2 months later, we begin this startup.

I was clear that I was partnering with them to gain access to their contacts in the vertical. Yet! For some reason they think I am still doing comission work for them, but this time for less/free (since this commission work had turned into a startup)

It’s October, the realization hits…
I am a yes man and they have done zip for my business. In turn I fly to their offices and explain the issues, because at the time these guys were still well connected (I thought)

They offer to sign an agreement which outlines duties. We do this, it’s April now and they have still done nothing, but invest 50K into the biz (I invested well over 100K)

In Feb, I stopped building and let the monthly liabilities drain the company account down to 2K, in hopes the business dies along with this “partnership” so they could not reap rewards from my hard work.

They are have now contacted me since we are low on cash. Im ready to say fuck this and let it die.

Note: We have not leveraged any credit and have zero debt at all.

My thought is the Business goes under, and I am free!

  • “They have now contacted me”: it means that now you can tell them your conditions. If they accept it, fine.

  • … [Trackback]

    […] Here you can find 37495 additional Info on that Topic: startupsanonymous.com/question/let-business-die-get-away-partners/ […]

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

    You may also like