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Post Info TOPIC: Dear Harriette: Potential Business Partner is Vague
Lady Gaga Snerd


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Dear Harriette: Potential Business Partner is Vague
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DEAR HARRIETTE: I have been talking with a potential business partner for many months now. Every time we get close to figuring out a deal we can develop, it gets a little sketchy. I honestly don't think he is trying to stiff me. I think he is unsure of what is going to stick. At this point, I need to know what our business relationship will be if something does happen. My problem is, I don't have any money. How can I get clarity when I don't have skin to put in the game? -- Looking for Clarity, Boston

DEAR LOOKING FOR CLARITY: Call a meeting with this person and put your cards on the table. Be clear about what you want related to the projects you have been discussing. Sometimes partners bring cash to deals; at other times they bring expertise and time. Tell him what you believe your assets are and the value of those assets. Ask your potential business partner what his intentions are, and make it clear that you want to establish a formal relationship before you move forward.

 

http://www.uexpress.com/sense-and-sensitivity/2015/1/22/reader-wants-a-pause-in-serious



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Lady Gaga Snerd


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Soo, he/she wants a business "partner" but the LW has no money of his/her own to invest and start the business and wants it all on someone else's shoulders? DOH!

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Lady Gaga Snerd


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Dear LW: If you don't have any money, then perhaps you have No business going into business. As someone who has gone into my own business, one must usually plan, save and get their own ducks in a row before doing so.

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Lexxy


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And if you are incapable of closing a deal with your potential partner & have to write to an advice columnist I doubt you are ready to close any business deals.

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TrudyML


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LOL! Lexxy! Right on!

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Lady Gaga Snerd


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Ha ha!!

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Lady Gaga Snerd


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The first order of business is to actually get the business off the ground.

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JPT


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Lady Gaga Snerd wrote:

Dear LW: If you don't have any money, then perhaps you have No business going into business. As someone who has gone into my own business, one must usually plan, save and get their own ducks in a row before doing so.

 Ummm, yeah...unless you hold a patent, or have an intellectual property that brings an equivalent value to a cash investment.

 

News flash

Most "partnerships" end up either in bankruptcy, civil litigation, or criminal court (assault)



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Lady Gaga Snerd


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Yes, but doesn't sound like the money partner is all that enthused.

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I know what to do_sometimes


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Lady Gaga Snerd wrote:

Yes, but doesn't sound like the money partner is all that enthused.

 Exactly.  If one has an idea for a marketable item, they need to research the industry it relates to or get a SB loan.  But to get such a loan you have to prove the same thing you would have to to any investor/partner.



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Southern_Belle


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I bet potential partner would be enthused if LW had an equal amount to invest.

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