Partnership ...your opinion

Submitted by Mystery Taxidermist on 1/14/01. ( ) 152.163.188.194

I have a question for you. A little over a year ago my best friend and me started our own business together. Starting out we split everything down the middle but the last few months he's not doing near the number of birds as me and im always trying new things and I cant get him to start something new ( like fish) I started deer and small mammals he doesent do any deer or small mammals now since we said we would split everything down the middle profits and bills should I still give him half of the profit ? I mean we are best frineds but Im begining to get ticked off because im doing the majoirty of the work and he's getting a portion of profit. What would you do?

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Possible Solution

This response submitted by Chuck B. on 1/14/01. ( wcbrandenburg@cs.com ) 205.188.208.109

I think that the first thing to do would be to address the problem "civily" with your partner and tell him you want to try another way. Might I suggest that each of you get paid for the mounts you each do, then split the bills down the middle. He will do one of two things: 1) See how much more profit that you have, compared to himself, and step up his own work another notch or 2) he will dissolve the partnership because of his laziness or lack of open mind to new things. If this is a fulltime thing for you and your livelyhood, you must not be blinded by friendship! IT IS A BUSINESS! Treat it as so and make a well thought out "Business Decision". Hope this helps. You may get some more advise from someone else, but that is my opinion.I thought about it for awhile and this is what I would do.


Mystery....

This response submitted by BigD on 1/14/01. ( ads61@roofer.net ) 205.152.97.164

Dear Mystery,

I have a business (not taxidermy) that I own with a partner. This year marks our 10th anniversary and I can sure tell you a thing or two about partnerships. First and foremost, you have to think of your partnership as almost the same thing as a marriage. You have to have respect for and TRUST in your partner. You also have to keep the lines of communication open at all times. Doing that in the good times is not a problem, but keeping a dialogue going in the tough times will be a key as to whether or not your partnership makes it.

Do you have a written partnership agreement? If not, now may be a good time to do that.

In a good partnership, the sum of the partners should be greater than they would be if they were apart. Another way to put that is that together your business should be a better, more profitable business than each of you could do on your own. How do ya'll stack up?

My advice at this time would be for you to talk to your partner about how you feel. Be open and honest but don't do it in a negative or confrontational manner. No matter what, you should honor whatever agreement the two of you have. If that means splitting things 50/50 then so be it. If it is time to split up, then do that right, too. Give your partner enough notice of what you intend to do and do what ever you can to make it a clean and honorable break.

Just like a good marriage, a good parnership takes a tremendous amount of hard work and dedication to the cause. It is not always going to be an even split, either. I can tell you from my experience that a partnership can be successful and rewarding.


DON,T PROCRASTINATE

This response submitted by Elmer on 1/15/01. ( Topstaxidermy@aol.com ) 205.188.208.109

Looks like you are headed in the right direction. Taking some advice inone thing you don,t want to do you have to talk about it you say you are real good friends it could cause a division if you let this fester into a big sore so get it done as friends and don,t put it off. I see the friendship disolving if you don,t talk it out and you both feel like the problem is resolved. The above advice is a good start. But don,t delay too long.


Our Idea in Montana

This response submitted by Patrick Rummans on 1/15/01. ( birdspec@lewistown.net ) 206.127.86.22

Larry Jensen and I have been partners for about 6 years...We split the rent, and run our businesses out of the same location. We agree that he does animals, and I do birds. We have a few very simple guidlines - what he makes is his and what I make is mine - that way there's no argument about who's pulling the weight....Have you thought about just splitting up the work? Decide which of you is to do what aspect, and make a written agreement. Solves your 'work-load' problem and let's you remain partners. I have to tell you, I wouldn't trade the arrangement I have with Larry for anything! It's SOOOO nice to have someone here to look out for the shop while I'm gone and vice versa.
Good luck to you!

Patrick Rummans


Fair pay for fair work

This response submitted by Victor on 1/15/01. ( ) 216.98.85.165

My opinion on this is almost the same as Chuck said above. You get paid for what you do. Your partner will almost surely turn this idea down in a attempt to capitalize on your friendship and continue with the free ride. While some partnerships may actually work, most dont. One partner almost always feels he is doing more than the other. Taxidermy is only part-time for me, I have a full time business servicing electronics, which I am the owner, manager and the technician, not partners also no employees. I seen to many business' that would otherwise work go under due to disputes between partners.

Another great advantage (in my opinion)of no partner is, if the business is a success, you reap all the rewards, if it fails, it forces you to accept all the blame and not be pointing fingers for years to come. You could quite possible lose your friendship oover all this.

If possible, I would see if the partner would be willing to accept a "reasonable buyout", then you would be free to expand and try new things without resistance. Good Luck, hope things work out...


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