Three methods in order of best to worst: Buyout *Pay the guy a good salary, buy his equipment, buy this and that but do not give controlling interest/stock Cooperation *This never works don't even try Partnership *You better get a whole hell of a lot before trying this as this ends many small companies. In the last several years I have seen it quite a few (frustration, incompatibility, whatever)
50/50 hardly ever works out - if one goes left and the other right, you're not moving. 51/49 or 60/40 is strongly suggested. Talk to a lawyer. Be sure the lawyer understands what you want. The lawyer is the only way to truly cover your ass. Unfortunately, if you don't already have one you do not know how good one will be until you give them a chance. Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 "When you have eliminated the impossible, that which remains, however improbable, must be the truth." --- Sir Arthur Conan Doyle On Thu, Oct 22, 2009 at 11:40 AM, Marlon K. Schafer <o...@odessaoffice.com>wrote: > Hiya Robert, > > First off, we've got nearly 7000 square miles of coverage (NOT all together > in one area) and 600 wireless subs. Plus dialup and fiber (we're a fiber > reseller so there's not much work involved most of the time). You may not > really NEED a partner, rather a good secretary. We take care of all of our > work with a slug of good consultants who only get paid when there is work > to > be done, myself and an office manager. My wife also pays the bills, that > takes her 4 to 6 hours per week. > > If you do decide to partner do not go 50/50. Then everything ends up in > court. Either take 51 or 49. Better yet try to go for a 60/40 split. > grin > > Put each partner's duties on paper. Lay out in advance who's responsible > for what. If you are technical and installation then YOU make those > decisions. If he's paperwork and construction, then HE makes them, even if > you don't like them ever time. > > I've been working in small businesses for a very long time. I get to know > my customers. I see them come and go, a lot. One of the biggest things > people point out, over and over, is the lack of pre set responsibilities. > Sometimes people just naturally fit into their rolls and no one questions > how things are done. Other times the rolls start to overlap and arguments > happen. This is usually a harder thing to do with friends or family > members. > > Having not done the partnership thing I can only give you advice that > others > have given me.... I've looked at trying to team up with some of my > competitors and these are the things that seem to always get us stuck. If > we can't get past them now, we will certainly have to deal with them later. > > Hope that helps, > marlon > > ----- Original Message ----- > From: "Robert West" <robert.w...@just-micro.com> > To: "'WISPA General List'" <wireless@wispa.org> > Sent: Thursday, October 22, 2009 8:17 AM > Subject: [WISPA] Partnership Agreements > > > > I've had as few people approach me in the recent past wanting to partner > > up > > with me and to be honest, I can really use someone to carry half the > load. > > I'm leery, however of getting screwed. (My father was in business for > > years > > with one partner and after they took on another they all got screwed to > > the > > point they were out of business) A requirement of a partner, for me, > > would > > be someone buying in with enough cash to grow the company to carry the > > extra > > weight of the new guy. The ones in the past turned out to be flakes with > > only dollar signs in their eyes. Not a good fit for me, I'm not about > > cash > > in my pocket, that comes with doing a good job and someone talking about > > money all the time scares the hell out of me. > > > > > > > > I now have a guy who looks good. Has the assets and interest. Has 3 > > small > > towers in parts in his barn, he has a barn converted to an office, > > construction equipment, trailers, etc. He understands there won't be any > > money flowing in his pocket for probably a year due to the expansion > we're > > doing. He says that's fine. He also has the billing and general > > paperwork > > experience and background. (I absolutely hate dealing with the money and > > paperwork) Looks good so far. The construction equipment would be a > > help, > > no more begging things from farmers and making deals to get a hole dug. > > His > > current gig is as an electrical engineer, travels around the world as a > > contractor overseeing the repair and programming of robotics as well as > > the > > installation of the equipment. He says he's tired of being gone all the > > time and wants to stay in one area in a field that will be somewhat > > related > > and complicated enough that he won't get bored. Hmmmmm.. > > > > > > > > I've been to his home a few times, even put in a private wireless > > connection > > between him and his neighbor a mile away. Seems like a decent guy. > > > > > > > > Now he wants to sit down and work things out on paper. Any advice on > > things > > to cover my ass on? Things some of you wished you had down on paper when > > you started out? I'm not a partner kinda guy, my business plan is always > > in > > my head, I make much of it up as I go along and I jump in and just do > > things > > myself so this is new territory. (However, my total lack of > > organization > > is due to the previously stated operation of the business plan) > > > > > > > > I know some will yell to not take on a partner and I'd be one of them, > > believe me. That's why I've fought them off so long. But with a larger > > network coming online and eyes for even more expansion, it's looking good > > to > > me. (We currently only have a little less than 200 subs but anticipate > > twice if not 3 times that to come online in 2010) I just don't want to > > be > > out in the cold or screwed over due to my ability to trust. I'll never > > give > > up more than 50%, won't happen, but there are many ways people can screw > > others. > > > > > > > > It all sounds like picking the right person for marriage. (I have a bad > > track record in that too!!! ) Do ya think maybe him and I should just > > kinda > > "date" for awhile before we make the commitment? What would be > considered > > first base in this kind of thing....? Configuring a CPE after a few > dates > > then moving on to a customer installation then if it all goes well, take > > the > > plunge and climb a tower together? > > > > > > > > Weird. > > > > > > > > Thanks. > > > > > > > > Robert West > > > > Just Micro Digital Services Inc. > > > > 740-335-7020 > > > > > > > > > > > > > -------------------------------------------------------------------------------- > > WISPA Wants You! Join today! > > http://signup.wispa.org/ > > > -------------------------------------------------------------------------------- > > > > WISPA Wireless List: wireless@wispa.org > > > > Subscribe/Unsubscribe: > > http://lists.wispa.org/mailman/listinfo/wireless > > > > Archives: http://lists.wispa.org/pipermail/wireless/ > > > > > -------------------------------------------------------------------------------- > WISPA Wants You! Join today! > http://signup.wispa.org/ > > -------------------------------------------------------------------------------- > > WISPA Wireless List: wireless@wispa.org > > Subscribe/Unsubscribe: > http://lists.wispa.org/mailman/listinfo/wireless > > Archives: http://lists.wispa.org/pipermail/wireless/ > -------------------------------------------------------------------------------- WISPA Wants You! 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