Are you considering setting up a new business with someone? Are you looking to involve someone else in your existing business? Maybe a key employee or business associate?
Involving other people in your business can be a great idea to share the fun and spread the risks. However, getting into business with someone also brings with it an entire jungle of potential dangers.
The short story is that it much (much) easier to let someone in to your business, than it is to get them out if things go sour. Furthermore, the likelihood of something going sour is radically increased if you don’t sit down beforehand and clearly map out how things are going to run.
We have been helping people successfully get into business with others for over two decades. Below are links to a treasure trove of resources and information to help you make your business partnership a success. We also set out some information for those of you who are already in business with someone and want to know the way out..
Things you need to discuss and plan before tying the knot
Sit back and watch this one hour seminar on everything you need to know about going into business with someone: VideoPost: ‘Open to Partnerships’ – Going into business with others
Read our comprehensive 18 page Checklist of Issues to consider before going into business with someone:
Q&A – How do pre-emption rights work? putting in place fair and equitable first rights of refusal as between owners.
Think about the end, before you start: Business succession planning
How best to structure your joint enterprise
What to do when things go bad
Read our Checklist of Partnership Exit Issues: Is your business partnership splitting up?