Should I stop working with my business partner?
My business partner came up with a really great business idea one day, and when she proposed it to me, we decided it would be amazing to start a business out of it. When it comes to execution, I feel like I'm doing 100 percent of the work and she's doing nothing. I set up our online store, I set up our domain, I found 90 percent of our products, I set up our email and social media accounts, and I contacted all of our suppliers for wholesale inquiries (she only contacted one supplier). Right now, we are ready to launch our store, but she is saying that she wants to have a job to save money so we could have enough capital to launch. I feel like she is not aggressive and committed to the business enough to even start it. Meanwhile, I created my own business, and I am planning to sell the products that I found for the previous business on Amazon. I guess my question is would it be considered that I am cheating my business partner or not, since she came up with the business idea, and I am the one who did 100 percent of the work?
We do not have a partnership agreement in writing, and we did not do any legal paperwork to make it official.
- AngieLv 55 months agoBest Answer
I would give her an ultimatum I would say, listen I want to go forward with this business and you do not seem interested in doing the work it takes to make that happen, Either you start working as hard as me or I am moving forward without you. You have to think about what's best for your future. Be honest with her and let her know you do not want any bad blood, only what is fair. If she makes promises and doesn't keep them, then I would walk away no permission needed, you gave her a warning.
- JayLv 65 months ago
First Question : Did you write up a contract? If yes did you both sign it? If yes is it notarized?
If yes to all three...you are 'cheating', and you need to tell the person that you are launching the business without them because you did all of the work and you are ready to go. Tell them that due to this they will only have a 25% stake in the business, and that is only because they are your friend.
If no, you are not cheating but your friend may think so...so once again say " I did all the work and I am ready to launch without you, and I plan to do so. Do you still want to be a part of it? if yes, it will be best for us if we draw up and sing an agreement about how much work you will do, and how much of the profit you will get for that work.
If this is not a close friendship...then it does not matter...just go ahead and do what you want to do.
- 5 months ago
That's why you should have a written partnership agreement outlining duties before you go into business.
In this case, you win, she loses. You can walk away (you'd be a fool not to), and there's nothing to stop you from walking away, along with any ideas you want to claim as your own.
Unless you want to carry her on your back for the rest of your time with this company, walk away. No, RUN!
- JudyLv 75 months ago
Try making a list of things that need to be done, and ask her which ones SHE wants to do, and see what happens.
- How do you think about the answers? You can sign in to vote the answer.
- JohnLv 75 months ago
You guys need to talk.
- don_sv_azLv 75 months ago
Do you have a partnership agreement in writing?