My business partner and I are both software developers and decided to start a company a few months ago. We created an app and just finished a website for a sub-project we have. He still has to work because he doesn't have enough money to support himself and I am not working. I told him I would be okay with doing most of the work until he is able to quit.
Yesterday, he got an email from Microsoft wanting to interview with him and he is on the fence about whether to go or not. Obviously if he worked there he wouldn't be able to run a company with me. I think it would be a good opportunity for him but looking out for myself I feel that his priorities are in the wrong place.
I wouldn't even consider going to the interview because my heart is in this company and I know where I'm going. We have no written agreement but I am now seriously considering getting one because I can't have a business partner with 50% ownership in my company getting swayed so easily. Any suggestions on what I should do?
I am going through a process similar to yours..
Im into business with a best friend but great worker and asset regardless of friendship. We split everything 50/50 but where do we draw the line on what is a verbal agreement vs handshake vs written signed agreement?
We are still in the preliminary phase of our business but once money is exchanged for expenses and or invested into the company I start with a paper trail and signatures of course from a basic document (google joint venture agreement form)
Being in your case, it might offend him but this is a big thing for your future success you need 110% from your partner towards your business, not 60% in Microsoft and 50% in the other.. I'm experiencing that already which is being addressed.
You sound more invested into your company than I am which wont be good if you have a half a** partner, being this is most important time of the business. I think its time to start looking for a new partner as your partner will probably be going with Microsoft.
This is a big moment in your companies potential for success!
---"To win without risk is to triumph without glory"