Share0
Tweet0
Share0
Share0
Tweet0
Share0

My partner isnt following through…

Not because he is lazy, but he has a business he has been running for close to 20 years that is taking all his time. He just grossly overestimated his available time and underestimated the time the new venture was going to require. We do not have a partnership agreement yet. The tricky part is is that as PART of his equity. I have come in to work for his existing company and am given 10 hours a week to put to the new company for which I have only taken advantage of for 4 or 5 days. We have missed two of our first goals and not by just a bit, they literally have not evened happened.

My gut is telling me to just reimburse him for the 5 days and to return half of a signing bonus bonus I received and to take over the company myself and possibly bring him back on as a limited partner when he meets some of his obligations.

What are your thoughts?

  • Just talk it through like fucking adults.

    In all likelihood he’s already aware he’s falling short and perfectly willing to renegotiate a deal that works for the both of you. And if not, well, then you’ve got your answer too.

    Also, what is this about him “giving you” 10 hours a week? Is he your boss or is he your business partner? Either way, the only thing I can take away from your post is that you’re not communicating effectively.

    Reply

  • The 10 hours per week says something very wrong with the relationship. I think he’s taken advantage of you.

    Reply

  • Business guys often “grossly overestimated” their abilities in general. Big talk, no execution… Been there.. done that. If you give him his money back for your time that he’s wasted he will never learn not to juggle people as a means to an end. But if you guys are friends, give him half of his investment back and go look for something else. But by all means…. start walking because if it’s bad now, it will only get worse.

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

    You may also like

    >