Find the most trustworthy, successful businesses in your area and get referrals for a lawyer. -RickG
On Thu, Oct 22, 2009 at 12:03 PM, Robert West <[email protected]> wrote: > A good lawyer around here is tough. I have honestly used 5 different > lawyers in the past 2 years. They always know but they are always wrong. I > hate that....... Need to find a good one but it's not like a TV where I can > read reviews! Yes, they do have legal reviews but it all seems like self > hype and advertising. Just as can be expected with lawyers....... > > > > -----Original Message----- > From: [email protected] [mailto:[email protected]] On > Behalf Of Josh Luthman > Sent: Thursday, October 22, 2009 11:50 AM > To: WISPA General List > Subject: Re: [WISPA] Partnership Agreements > > 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 > <[email protected]>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" <[email protected]> >> To: "'WISPA General List'" <[email protected]> >> 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! 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