2.

I went into business with a friend of mine a year ago. At first everything was going alright and we were both contributing equally. As time goes by though, I feel like I am shouldering most of the work. How do I get my partner to put in his share of the work and/or how do I call this whole thing off?

Answer

This is a common problem. Firstly what you should do when starting a business with another person – however friendly is set up clear and DOCUMENTED details of each person’s responsibilities, their profit share and financial remuneration. If your friendship means enough to you that you are willing to go into business together then do you want to risk it on a falling out over business.

There are a number of scenarios open to you, but I assume that you want to do one of the following:

1. Remain in the business and increase your partner’s contribution.

2. S

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like I am shouldering most of the work. How do I get my partner to put in his share of the work and/or how do I call this whole thing off?

Answer

This is a common problem. Firstly what you should do when starting a business with another person – however friendly is set up clear and DOCUMENTED details of each person’s responsibilities, their profit share and financial remuneration. If your friendship means enough to you that you are willing to go into business together then do you want to risk it on a falling out over business.

There are a number of scenarios open to you, but I assume that you want to do one of the following:

1. Remain in the business and increase your partner’s contribution.

2.

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lem. Firstly what you should do when starting a business with another person – however friendly is set up clear and DOCUMENTED details of each person’s responsibilities, their profit share and financial remuneration. If your friendship means enough to you that you are willing to go into business together then do you want to risk it on a falling out over business.

There are a number of scenarios open to you, but I assume that you want to do one of the following:

1. Remain in the business and increase your partner’s contribution.

2.

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re and financial remuneration. If your friendship means enough to you that you are willing to go into business together then do you want to risk it on a falling out over business.

There are a number of scenarios open to you, but I assume that you want to do one of the following:

1. Remain in the business and increase your partner’s contribution.

2.

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here are a number of scenarios open to you, but I assume that you want to do one of the following:
1. Remain in the business and increase your partner’s contribution.

2. Sell up or close the business.

3. Buy your partner out and continue with the business on your own.

4. Change the contribution that your partner makes and the corresponding reward/salary/profits that they receive.

Firstly you should try and resolve this matter amicably. Ask your partner to meet you for dinner in a quiet restaurant to discuss your business and how you both want to manage it in the future. Your partner is probably aware that they have not been contributing as much as they have in the past. If your partner is not keen or is afraid that your anger will be expressed, then just point out that you value them as a good friend and do not want to lose such a friendship over business problems that yo