Are business partners worth it.

[Minor Miner]

There was this movie I watched about two partners of one business. One of them has about 70% of the capital that was used to start the business, while the other person has only 30%. But they had some agreement that if there is any conflict in the future, only one person will continue the company, while the other person will be settled with an agreed percentage. 

This is really serious, for some one to contribute 70% capital in the business the person is the only of the business in real life because 70% is more than half of the money they was contributed by the other person who happens to be his business partner. In reality, I don't think someone who's bringing a bigger amount of capital to start up a business will involve in a legal agreement that involves settlement of one person of there arose a conflict amongst them rather the person will either choose to settle the person that brought in 30% then take over the business because he brought in a bigger amount that helped in the establishment of the business.

In this case it is also difficult to say who will face higher risks. Because if the startup is not successful, the person who contributes 30% of the capital will lose less, but if the business succeeds as expected, this person will have to face more risks. I think that's fair, it's nothing as serious as you're worried about. If the partner contributes up to 70% of the capital, it means that they will have much greater risks than you, so it is understandable that they will have an advantage over you.

In business, think about the failure scenario and who will suffer greater losses, don't just look at the profit aspect and think that we are worse off than them.

[avp2306]

There was this movie I watched about two partners of one business. One of them has about 70% of the capital that was used to start the business, while the other person has only 30%. But they had some agreement that if there is any conflict in the future, only one person will continue the company, while the other person will be settled with an agreed percentage. 

This is really serious, for some one to contribute 70% capital in the business the person is the only of the business in real life because 70% is more than half of the money they was contributed by the other person who happens to be his business partner. In reality, I don't think someone who's bringing a bigger amount of capital to start up a business will involve in a legal agreement that involves settlement of one person of there arose a conflict amongst them rather the person will either choose to settle the person that brought in 30% then take over the business because he brought in a bigger amount that helped in the establishment of the business.

In this case it is also difficult to say who will face higher risks. Because if the startup is not successful, the person who contributes 30% of the capital will lose less, but if the business succeeds as expected, this person will have to face more risks. I think that's fair, it's nothing as serious as you're worried about. If the partner contributes up to 70% of the capital, it means that they will have much greater risks than you, so it is understandable that they will have an advantage over you.

In business, think about the failure scenario and who will suffer greater losses, don't just look at the profit aspect and think that we are worse off than them.

That's why sometimes its not good to take a partner while your starting up with your business. But if the partnership is well discuss and all the risk has been presented and they are still interested to invest on your business then why not right? Its good to have partner since for sure with that you can get good help especially for taking good ideas to make the business became more successful. Although there's big risk to lose especially if the taken partner is not good businessman then provably a total struggle towards building up our business will be there and chances to get failed is also high.

That's why picking up he right person is needed since if the business is new then a proper marketing or any other else needed to do so that all of you would gain success on the business field they have chosen.

[Mahanton]

There was this movie I watched about two partners of one business. One of them has about 70% of the capital that was used to start the business, while the other person has only 30%. But they had some agreement that if there is any conflict in the future, only one person will continue the company, while the other person will be settled with an agreed percentage. 

This is really serious, for some one to contribute 70% capital in the business the person is the only of the business in real life because 70% is more than half of the money they was contributed by the other person who happens to be his business partner. In reality, I don't think someone who's bringing a bigger amount of capital to start up a business will involve in a legal agreement that involves settlement of one person of there arose a conflict amongst them rather the person will either choose to settle the person that brought in 30% then take over the business because he brought in a bigger amount that helped in the establishment of the business.

In this case it is also difficult to say who will face higher risks. Because if the startup is not successful, the person who contributes 30% of the capital will lose less, but if the business succeeds as expected, this person will have to face more risks. I think that's fair, it's nothing as serious as you're worried about. If the partner contributes up to 70% of the capital, it means that they will have much greater risks than you, so it is understandable that they will have an advantage over you.

In business, think about the failure scenario and who will suffer greater losses, don't just look at the profit aspect and think that we are worse off than them.

That's why sometimes its not good to take a partner while your starting up with your business. But if the partnership is well discuss and all the risk has been presented and they are still interested to invest on your business then why not right? Its good to have partner since for sure with that you can get good help especially for taking good ideas to make the business became more successful. Although there's big risk to lose especially if the taken partner is not good businessman then provably a total struggle towards building up our business will be there and chances to get failed is also high.

That's why picking up he right person is needed since if the business is new then a proper marketing or any other else needed to do so that all of you would gain success on the business field they have chosen.

Partnerships does have its advantages and disadvantages and this is why it would really be that important that you should really be making up some proper plans whether you would really be going into partnership or you would really be going solo. There are really times or moments that we are in short of budget for capital and this is why some people would really be having that kind of steps or actions be taken since they do know that when it comes to this aspect then you could really be able to make up some business in together with someone who do really have the same plans or having that the same targets or goals that they do have in mind.
The challenge on here is on how you would really be finding up that someone? We do know that usually the main issue on here is about trust since we are talking about money.

People would really be that skeptical when it comes to this manner because they cant really just that make themselves to have those easy partnerships not unless if the said business proposal
would really be something that exceptional but if it turns out to be not so good then dont expect that you would really be able to get one. As a business entrepreneur then it would really be just that impossible
that you cant really be able to point out on what are those things which could easy to happen and whats not.

[tottong]

I was reading about partnership business and I came across this article somewhere, we’ve all heard the horror stories about business partnerships gone wrong – disagreements, legal battles, and even, in extreme cases, assassinations. But on the flip side, we see famed partnerships in developed countries that have stood the test of time and grown into industry giants. Think of Google, founded by Larry Page and Sergey Brin, or Apple, started by Steve Jobs and Steve Wozniak.

Though partnerships can be incredibly rewarding, they aren’t for everyone. If you’re considering entering into one, it’s crucial to be well-informed about the potential risks and benefits.

The reason this happens is because we don't make legally binding rules so that business partners can cheat you. When you choose a business partner, you have to be very selective in choosing and need to test the previous steps they have taken.
To identify business partners who can deliver success, you must know their background and try to gather complete information about them.
Good business partners will not cheat because they pay attention to trust and they prioritize integrity so before making a decision you have to know it first.

Basically, not everything runs normally, some are cheated by business partners and some are successful.
It all depends on how we verify before deciding to take steps towards a business partner.

[bakasabo]

Maybe if partners have different responsibilities and tasks in the business, it will be worth starting business with a partner. For example one is good with finances, other with negotiations. In other cases, they will be "pulling blanket" all the time. But, instead of having a partner, I think it is better to hire a professional who will run business. Why people usually need partners? Because they dont have enough funding for a business. Let that hired professional build business to a size "would have created with partners money". It will take more time, but it will be more safer business.

[Dr.Bitcoin_Strange]

Maybe if partners have different responsibilities and tasks in the business, it will be worth starting business with a partner. For example one is good with finances, other with negotiations. In other cases, they will be "pulling blanket" all the time. But, instead of having a partner, I think it is better to hire a professional who will run business. Why people usually need partners? Because they dont have enough funding for a business. Let that hired professional build business to a size "would have created with partners money". It will take more time, but it will be more safer business.

I was also thinking the same thing about hiring a professional who can manage the business, but I realized that people go into partnership business for different reasons. The common reason is lack of funding from the person who has the original business idea, but for other reasons such as unity of friends and family (wanting to unite your family with your best friend), trust between friends, incompetency to run the business alone, etc., it is best to just hire professional business development personnel that can grow the business efficiently. Even if there should be a partnership, I think it must involve some legal agreements in case there's a conflict in the future. 

[bangjoe]

Maybe if partners have different responsibilities and tasks in the business, it will be worth starting business with a partner. For example one is good with finances, other with negotiations. In other cases, they will be "pulling blanket" all the time. But, instead of having a partner, I think it is better to hire a professional who will run business. Why people usually need partners? Because they dont have enough funding for a business. Let that hired professional build business to a size "would have created with partners money". It will take more time, but it will be more safer business.

I was also thinking the same thing about hiring a professional who can manage the business, but I realized that people go into partnership business for different reasons. The common reason is lack of funding from the person who has the original business idea, but for other reasons such as unity of friends and family (wanting to unite your family with your best friend), trust between friends, incompetency to run the business alone, etc., it is best to just hire professional business development personnel that can grow the business efficiently. Even if there should be a partnership, I think it must involve some legal agreements in case there's a conflict in the future. 

To be honest, the most basic thing in business partnerships in the case of Google and Apple is that they don't have enough funds and don't have enough knowledge, so they need partnerships that can help them and divide the tasks to develop the business so that it is much better, the initial building to a better level of course hiring professionals will not be able to pay salaries and so on, and hiring professionals is also not without risk.

I prefer to build a business through a partnership with someone who has the same principles in developing the business that has been planned and developed, hiring professionals is worth doing when the business is running smoothly and we cannot carry out some of the tasks because of other more important tasks.

[Onyeeze]

From my understanding I can accept a partnership business with someone but you have to cross check very well the kind of people that you are making a deal with because without you knowing the exact person that you are pertaining with you might  get into trouble in future, sometimes when you see some companies having issues within themselves the elementary thing that causes such a misunderstanding is because of lack of understanding and sharing formula of for their business so I believe that before you partner will be anybody for any investment to have to have a written agreement or document based on the sharing formula all the percentage of the individual or company per week or per annual before there will be establishment or kick off of partnership

[Farma]

From my understanding I can accept a partnership business with someone but you have to cross check very well the kind of people that you are making a deal with because without you knowing the exact person that you are pertaining with you might  get into trouble in future, sometimes when you see some companies having issues within themselves the elementary thing that causes such a misunderstanding is because of lack of understanding and sharing formula of for their business so I believe that before you partner will be anybody for any investment to have to have a written agreement or document based on the sharing formula all the percentage of the individual or company per week or per annual before there will be establishment or kick off of partnership

Before undergoing a business partnership of course everyone will first have a written agreement so that they have a handle when they have run the business and of course they have agreed to the contents of the agreement they have made both in terms of profit and capital that they will use in the business they will run and for some people when running a business have problems because they cannot understand well about the contents of the agreement they have made so that this will make the business relationship they run could end in a bad way of course this will harm one party, so I think it is very important for both parties understand well the contents of the agreement they have made before deciding to run a business together.

[South Park]

From my understanding I can accept a partnership business with someone but you have to cross check very well the kind of people that you are making a deal with because without you knowing the exact person that you are pertaining with you might  get into trouble in future, sometimes when you see some companies having issues within themselves the elementary thing that causes such a misunderstanding is because of lack of understanding and sharing formula of for their business so I believe that before you partner will be anybody for any investment to have to have a written agreement or document based on the sharing formula all the percentage of the individual or company per week or per annual before there will be establishment or kick off of partnership

Without a doubt picking the right person is the most important aspect of any partnership, since very often what we see is a smart person having a great idea but no money to make it a reality, and then they pick a partner with a lot of money but that does not really care about their vision, so it does not take long until the person with the original idea is replaced, the rich person keeps everything and then they make a fortune as they make an effort to not pay what they owe to the person that started the business in the first place.

[milewilda]

Maybe if partners have different responsibilities and tasks in the business, it will be worth starting business with a partner. For example one is good with finances, other with negotiations. In other cases, they will be "pulling blanket" all the time. But, instead of having a partner, I think it is better to hire a professional who will run business. Why people usually need partners? Because they dont have enough funding for a business. Let that hired professional build business to a size "would have created with partners money". It will take more time, but it will be more safer business.

I was also thinking the same thing about hiring a professional who can manage the business, but I realized that people go into partnership business for different reasons. The common reason is lack of funding from the person who has the original business idea, but for other reasons such as unity of friends and family (wanting to unite your family with your best friend), trust between friends, incompetency to run the business alone, etc., it is best to just hire professional business development personnel that can grow the business efficiently. Even if there should be a partnership, I think it must involve some legal agreements in case there's a conflict in the future. 

To be honest, the most basic thing in business partnerships in the case of Google and Apple is that they don't have enough funds and don't have enough knowledge, so they need partnerships that can help them and divide the tasks to develop the business so that it is much better, the initial building to a better level of course hiring professionals will not be able to pay salaries and so on, and hiring professionals is also not without risk.

I prefer to build a business through a partnership with someone who has the same principles in developing the business that has been planned and developed, hiring professionals is worth doing when the business is running smoothly and we cannot carry out some of the tasks because of other more important tasks.

You cant be able to blame out people on why they would really be that skeptical on having partnerships when it comes to business on which they do really have that focus too much about on disadvantage on which its really that actually true but based up on what you have elaborated on which these Giant companies did really start up but we dont really actually do know the story whether they are really running it sole or they did really start up with some partnerships. I havent made out some research therefore i cant be able to conclude on which path they did take on the moment that they had started up, but one things for sure that neither for those ways or methods, then it did really paid off basing up on their success today. Of course there would really be challenges that would be faced up on which it would really be that normal.

If you are tending to build up a business but dont have enough capital then you would really be having that main consideration on needing up some partner on which the same motive and
goals on a certain business. Agreements and terms would really be just that be standard thing to consider.

[Yeesha]

Actually, they really worth it must especially when you are running a large business, partnership is a very nice idea for the aim of achieving a specific goals, you have to find someone that is smarter than you and share a lot of ideas together that will serve as a development to the company, find people that you trust, so that they should not dupe you at the end, because some people are not trust wealthy.

When you run a little business it is not necessary for you to involve partner in it, but partnership is needed in a large business, as they said " two good heads are better than one".

[Oluwa-btc]

That's right, Well partnership this days are two facet I said this because everyone it's looking for the best for his/her business and would want it to stand out,so partnering with one or more people would give them that priveledge to learn new ideas and strategies inorder to bring theirs to standard,they would learn from your every steps and initiative.

Sometimes most business partners worth it in the sense that they are more business inclined and oriented and would work out modalities to bringing the Best out of it,tho we all know as partnering with another they're would be conflicts, arguments and so on but they'll definitely make sure every Target in bringing the business to success will be accomplished.

So like you said, making it clear to them what you want would it's a good idea tho and on a signed agreement,so there won't be unforseen circumstances of arguments and rivalry.

[N.O]

Actually, they really worth it must especially when you are running a large business, partnership is a very nice idea for the aim of achieving a specific goals, you have to find someone that is smarter than you and share a lot of ideas together that will serve as a development to the company, find people that you trust, so that they should not dupe you at the end, because some people are not trust wealthy.

When you run a little business it is not necessary for you to involve partner in it, but partnership is needed in a large business, as they said " two good heads are better than one".

Agree you. Many people involve their fraudy friends and family persons in their business. And I saw them as unsuccessful people. In business, that person is, successful who hire the person on his capabilities and his expertise in something. When he will choose the persons on references , he could not successful. An expert will give you output and he will grow you business. Always make a partner in business who is skilled person  if he has no skill, do not make partner.  In small business, you should save money and you should involve your son if he is young because he will deal your business perfectly. Always take the decision with mind because if you will take the decisions, with emotions, you will be unsuccessful.

[DaNNy001]

I was reading about partnership business and I came across this article somewhere, we’ve all heard the horror stories about business partnerships gone wrong – disagreements, legal battles, and even, in extreme cases, assassinations. But on the flip side, we see famed partnerships in developed countries that have stood the test of time and grown into industry giants. Think of Google, founded by Larry Page and Sergey Brin, or Apple, started by Steve Jobs and Steve Wozniak.

Though partnerships can be incredibly rewarding, they aren’t for everyone. If you’re considering entering into one, it’s crucial to be well-informed about the potential risks and benefits.

The Pros of Business Partnerships
Shared Resources and Skills: Pooling resources can enhance operational capacity.
Partners can bring complementary skills, enriching the business.

Increased Capital: Financial contributions from partners can provide a stronger capital base, facilitating growth and stability.

Shared Risk: Partners share the financial and operational risks, reducing individual burden.

Enhanced Network: Access to a wider network of contacts and potential clients through your partner.

The Cons of Business Partnerships: Conflict Potential:Differences in vision, work style, and decision-making can lead to conflicts.

Shared Profits: Profits must be divided, potentially reducing individual financial gain.

Legal and Financial Liability: Each partner is liable for the actions of the other, which can complicate legal and financial responsibilities

Decision-Making Challenges: Slower decision-making processes due to the need for consensus.

Best Practices for Successful Partnerships:
Clear Agreements: Draft a detailed partnership agreement outlining roles, responsibilities, profit-sharing, and exit strategies.

Aligned Vision and Goals: Ensure both partners share a common vision and business goals to prevent future conflicts.

Effective Communication: Maintain open, honest, and regular communication to address issues promptly and keep the partnership strong.

Defined Roles and Responsibilities: Clearly define each partner’s role and responsibilities to avoid overlap and confusion.

Conflict Resolution Mechanisms: Establish mechanisms for resolving conflicts early to prevent disputes from escalating.

This push me to ask "Are Business Partners truely Worth it"??

https://kudikonsult.com/are-business-partnerships-worth-it/

Having business partners is not really a bad idea it's actually a way to move on a fast pace, two heads are better than one..but before choosing a business partneers you must make sure that they are on the same page with you, partners must be like-minded otherwise they will always be disagreements along the line , conflicts between business partners can cause a lot of damage to the empire they are trying to build

[Tigerheart3026]

of course business partners will be worthy while your partners is hard working, dedicated and most crucial part is he/she must be same mentality with you,
otherwise a business will never long survival and end of the day will losses in the business,
in partnership business a lot of disadvantages also some advantages, you can not take a decision without your partner.
but i like to individual business if have an enough capital.

[knowngunman]

Well said, but next time do not just consider the positives, but also calling to mind the negatives aids in proper decision making.
<>

I think you did not read the entire post before making your reply. Op discussed both the positive and negative sides of partnership in business where he outline the pros and cons of the business. You did well by breaking the negative side of it into layman understanding thou.

This push me to ask "Are Business Partners truely Worth it"??

You're in the perfect position to answer this question yourself. You are aware of the pros and cons involved in the partnership, it's now left for you to decide if you think you're comfortable handling the challenges involved and of course, also satisfied with the benefits involved. It's all about understanding between the co team and having the right partner. The ones failing out there are also bind by agreement but later breach the agreement. Advisably, run your business in your own way if you are capable to face the risks.

[arwin100]

It maybe worth it if your partner also a good businessman which will aims for growth on the business you built together. If your partner show some good traits towards how they deal on challenges and always positive for improvement then its really good to have that since as saying said two heads is better than one.

But if your partner gotten is lazy and just want his money work for him then you will just add up toxic person in your business built and most likely you are the one who will carry a lot of burden on the business you create. So in this cases its better to work solo than spending lots of efforts and you cannot get anything from your partner.

This scenario will always depend on the person you got and how interested they are for good growth, that's why we need to be wise to choose right people in this field.

[bestcoins1]

of course business partners will be worthy while your partners is hard working, dedicated and most crucial part is he/she must be same mentality with you,
otherwise a business will never long survival and end of the day will losses in the business,
in partnership business a lot of disadvantages also some advantages, you can not take a decision without your partner.
but i like to individual business if have an enough capital.

For business people who already have partners, it is indeed a little difficult to make certain decisions if it is not approved by the partner because every decision we want to make must first be informed to our own partners. So that will hinder us a little when we want to carry out decisions based on our own thoughts because there must always be deliberation with the partner, but from the advantage side, it is in the introduction of a business that is more easily accessible to many people widely so that it can cause the business to be more famous more easily. But if you prefer to run a business individually, of course that is also very good as long as you have your own capital and knowledge of the business you want to build.

[stomachgrowls]

of course business partners will be worthy while your partners is hard working, dedicated and most crucial part is he/she must be same mentality with you,
otherwise a business will never long survival and end of the day will losses in the business,
in partnership business a lot of disadvantages also some advantages, you can not take a decision without your partner.
but i like to individual business if have an enough capital.

For business people who already have partners, it is indeed a little difficult to make certain decisions if it is not approved by the partner because every decision we want to make must first be informed to our own partners. So that will hinder us a little when we want to carry out decisions based on our own thoughts because there must always be deliberation with the partner, but from the advantage side, it is in the introduction of a business that is more easily accessible to many people widely so that it can cause the business to be more famous more easily. But if you prefer to run a business individually, of course that is also very good as long as you have your own capital and knowledge of the business you want to build.

One of the hassle thing when you do have a business partner is that you would really be needing up to have that kind of approval on which this is something that will really be not to good in my personal point of view.
If you can be able to handle up a business alone when it comes to capital and other needs then it would really be better to be a sole proprietor rather than on making yourself running on a partnership.
Although it woudl really be having those kind of advantages when it comes into this aspecto on which we know that if you are having no enough capital then there would be no other option but to have that partnership
but if you dont like really it well then you could take up some loan into banks but as we do all know that taking up some business loan is never been that easy when it comes to approval.

This is why it would really be better that you should really be knowing on what you are really that dealing with and not really just that trying to pursue something on which you do know
that you cant be able to handle it well. You are the ones who would really be running some business so it would really be just that right that you should be coming up with the right planning or else you would really be
finding it to be hard onthe moment that you do have those kind of mishaps.