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CONTENTS
Pants Start Flaming
Money Starts Rolling
Managing Time Wisely
Good Business Partners
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Volume I
Volume II
Volume III
Volume IV |
Pants Start Flaming
Well, I have recently experienced a partnership, with a friend, that I have definitely second guessed myself with the decision. I am devoting my time to creating her online sales business, have told her who to call, what to do, set her up with the place she will do her dropshipping, filled out two of her three forms, and she is upset she may have to put $30 into her business, and angry I won't do everything for her. Now mind you, I am getting 35% of sales for a website I will forever be creating. I tried to explain I said I would help her, but that meant I would tell her what to do, but as a business owner, there are just some steps you have to learn to do on your own. I also explained if I should do absolutely everything for this business to function, then why should I only be getting 35%? This threw her off in a tangent, and now I have not only wrecked her life, but I have also not been a helpful person, when I said I would help her. I honestly think I have done enough, and for anyone to get so emotional with the simplest of business logic, I'm also not sure I could even do this in the first place now. We are but three steps into the business now, and she is already caving, but there is still so much more to be worked on. It's got her pants all in an uproar, and I think the flames are as high as the sky.
So I have a little advice for you for the future if you want to do a partnership with a friend. There are certain people you definitely want to rethink the image before you actually decide to totally commit. What some people want from you, may not be what you can actually give, as you also have other things to contend to. So take a moment to look at what you should stay away from.
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DON'T do business with a friend that is overemotional. Not only is it overwhelming when you are busy, but it also means she, or he, will bring up personal issues with the friendship, rather than focus on the business when they are mad.
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DON'T do business with a friend unless you have clarified what the term 'help' means for you when optomistically trying to help someone. If you don't explain what your exact help is going to be, and they have no knowledge of business, I can guarantee you are the one going to do absolutely all of the work. Again, if the money doesn't fit, or the timing for doing this, just say NO.
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DON'T do business with a friend that has no inclining of spending one red scent to get it started. While it is true you can start a business with no money, you won't find your assets growing until you've spent some. A good business will be in the red for the first five years, and it's expected by even the government with yearly taxes. If someone can't figure out this money put in is money going to be brought back, especially in the first five years, then they aren't someone you should do business with.
If even one of these traits exist before the business is even going to take off, then you may as well just throw in the towel. It can wreck a friendship, hurt feelings, make people feel taken for granted, and a whole lot more headache than you wish to consume in one year, and you'll start getting it right away, believe me! |