How can 3 partners treat the one who has to quit his job fairly? -Startup with 3 founders, one salary.
Partnerships; it makes one think of comraderie, solidarity, marriage even.
So often people get a great idea and decide to form a partnership (or become shareholders in a corporation together) in order to make the great startup story happen once again.
Here’s the problem though, what if the different founders are being asked to contribute at different levels?
What if someone is being asked to put their personal income on the line by quitting a job and going to work full-time in this new venture?
How do we reconcile the different contributions?
It all has to do with the hats we wear.
Watch as I answer this week’s question from someone on Quora.com who is in the middle of this very dilemma: https://youtu.be/4IJE6GsAkys
Join the legions of small business buyers who are learning what they need to know so they can avoid a bad deal. They’re taking my online course at www.BusinessBuyerAdvantage.com Some are learning how to get ahead of brokers with my Prepare to Buy a Business: The Next Step. Also on the same site.
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I’m coming to Halifax, NS December 4 to teach my Succession Planning Workshop and my How to Buy an Existing Business Workshop. It would be great to see you there.
Thank you and I’ll see you next time.
