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February 13, 2012
Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away
Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
How to salvage a flawed business partnership
By
Louise Witt
Answer Central
http://www.JewishWorldReview.com |
(KRT)
Q. I am planning to start my own business with a partner. I have 50
percent of the cash and 50 percent of the know-how. My partner has
the other 50 percent of the know-how that I need to succeed in the
business, but he is reluctant to contribute 50 percent of the cash
due to his concerns about risk. What should I do?
Eric S.
A. Well, Eric, you should consider the fact that your business
partner is unwilling to risk his money because he either doesn't
have confidence in the business plan or he doesn't have confidence
in you. Either way this may be enough information to motivate you to
find another business partner. Starting a company is hard enough
without being in business with someone who doesn't fully believe in
the venture.
"You shouldn't be in business with that guy; that's the short
answer," says Bob Borghese, a senior lecturer at The Wharton School
of the University of Pennsylvania and a lawyer who counsels
entrepreneurs. "If he's not willing to make a commitment, then you
don't want to be in business with him. To me, it's a red flag; this
person doesn't have the risk profile of someone who is going to be a
successful entrepreneur."
Before you decide to go into business with anyone, Borghese says it
is important for you to assess your prospective partner's strengths
and weaknesses. Remember that when you start a company, you're not
only investing your money, but also your time and energy. With all
that at stake, you want to make sure you're going into business with
someone who will be a true partner and do all that he can do to make
sure your venture is successful. "Basically, you want to know
whether you can trust them," Borghese says.
Martin Snider, author of ``Compatibility Breeds Success: How to
Manage Your Relationship with Your Business Partner'' (Praeger
Publishers, $49.95), agrees that your prospective partner's
reluctance to risk his money in your startup shows a lack of trust -
not a good sign. Snider says entrepreneurs should think of a
business partnership as they would a marriage.
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"Ask yourself the same questions you would if you were going to
marry someone," he says. "Just like two people who get married after
three weeks, business partners can get carried away with their great
idea and decide to form a company."
Snider, who is also a family therapist and an organizational
business consultant in Waban, Mass., says a successful business
partnership requires that partners are willing to make compromises
so that both are satisfied.
"A resolution is when each person feels he got enough of what was
important to him," he says. "If one person is harboring resentment
that he had to give up too much, then that will sow the seeds for a
later conflict."
In your case, you may resent your partner for failing to shoulder
his share of the financial risk. Or your partner may resent you for
pushing him into a venture of which he wasn't an enthusiastic
supporter.
If, however, you do decide to go ahead with your business
partnership, there are several ways to structure the deal so that
your financial contribution is commensurate with your financial
reward. If you wind up putting in all the capital, you and your
partner can agree that once the company turns a profit, you will be
repaid for your investment. In addition to the company paying back
your principal, it can also pay you a risk premium, or interest. The
premium may be higher if you and your partner determine that it will
take the company some time pay you back, or lower, if it happens
relatively soon.
Or you and your partner can decide that because you're providing
most, if not all, of the startup capital, your equity in the company
will be greater than his. Maybe you will determine that his know-how
is worth a 25 percent stake in the company and your know-how and
capital is worth 75 percent. Or you can decide that your partner
will receive a smaller equity position and get a salary. The idea is
that if he isn't taking any risks, then he's not eligible for the
rewards. Borghese stresses that you and your partner should have an
experienced corporate attorney guide you through this process.
Having a great idea for a business is just the beginning. Unless you
and your partner can figure out a way to work with each other that
is satisfactory to both of you, then you will have a tough time
turning your idea into a successful company.
Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Comment by clicking here.
Can You Learn Not to Be a Jerk? Yes! - Part II
Successful But Jerk- Part I
© 2005, Fortune Small Business, Distributed by Knight Ridder/Tribune Information Services
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