Oh, I've been in the partnership thing, got screwed, and was lucky enough to figure out how to negotiate for 100% ownership of the company that I built and my deadbeat partner didn't help with.
So, now here I stand, smarter for the experience, but also looking at a pool of vultures ready to hand me money but wanting 75% equity. lol. yah. Came out of meetings today with a whole bunch better group of people, and my stance is to never own less than 51%. At least this group respected that. Thanks -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of George Rogato Sent: Tuesday, February 20, 2007 7:06 PM To: WISPA General List Subject: Re: [WISPA] For those in business just about a year... Rick Smith wrote: > actually, I've been told the opposite. Buyers of your company want > as close to zero liability as possible. Especially when they will probably > come in and replace your gear with theirs. If the two seem to match, > you only win bigger... > > Loans / Leases / Credit Lines are BAD in the eyes of a potential > buyer. And, who ISN'T building to sell right now ? The ones building > to own / operate are going to get run out in the next 3 yrs. > > We're building to sell. Major network - owning all pieces. Banks have > allowed us up to 50% face value of the equipment to borrow against for > 18 months on a relatively higher rate of interest (9 or >), but collateral > nonetheless... > Rick, you've been around the block, your a smart guy, don't think there is a whole lot your missing. The only advice I would give you, is if you do another partnership, clearly define your partners exit in agreeable terms before you enter into an agreement. Like you will be the owner and he will be leaving and here is what he is getting and how he is going to get it. Also watch that you don't make the next guy the major "stakeholder" if he decides to drag you into bankruptcy. George -- WISPA Wireless List: [email protected] Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/ -- WISPA Wireless List: [email protected] Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
