RE: Starting a business

Subject: RE: Starting a business
From: "Jonathan Soukup" <JSoukup -at- at-track -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Wed, 27 Jun 2001 12:28:48 -0500

>>And I'd say that goes quadruple for any business you're planning to run with
a partner.

My father started a business 8 years ago with four partners, and luckily, three bailed during the first year when times were tough. He was able to buy out their shares in the company for relatively little money once the company made a little profit.

Unfortunately, the remaining partner is a slug and the business would run just as well without him. My father doesn't like working with him even though he is his cousin. The problem is just how much money it will take to buy him out now that the company is successful.

My father has considered leaving to start another competing business on his own. I'm sure within a year he could rebuild his little empire while letting the old company die, but it sure seems like a lot of mess to get out from under someone else who is stumbling around.

My advice, don't have any partners.

-Jonathan Soukup


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