Have you thought about dividing duties instead of profits? Perhaps those
partners who have less capital to contribute may make it up by taking on
extra duties or different responsibilities. This way, profits can stay equally
divisible but work responsibilities can be divided to make up for the unequal
Shocking!! People lie???? Really??? Can we get that Duh with a big D or a little D?Well, I remember when I first started out... I had faith in everyone. Maybe I am just gullible that way but I thought to share a bit of my startup experience with some of the newbies here. You may be less naive then I was starting out, but your comment is just rude.
honor and integrity don`t seem to mean as much as they did "way back
when"... just take a look at all the head honchos of those fortune 500 co.`s
going down for being greedy... they bring a whole new breed of regulations
that never existed before.
Whether it is a client, vendor, employee or business contact, at some
point in your business career, someone will lie to you. Your vendor will
promise to deliver and fail. Your customer will promise to pay and they
won`t. Anticipate it, and you can at least limit the harm.
In a previous business, my partner was in negotiations with a vendor and
was pitched a deal that just sounded "to-good-to-be-true". My partner
told the vendor that he would need my OK to close the deal. I gave the
vendor a call to discuss the details but before we began, I asked the
vendor for his permission to record the conversation since "I am forgetful
sometimes". Of course he obliged but somehow, when I mentioned the
deal he spoke of earlier to my partner, he denied any knowledge of it. Of
course, any deal should be ultimately put in writing with signed
acknowlegements. But sometimes, to get a meeting with you, or to just
limit competitors, people/vendors will say and do anything to get you to
talk to them.