I was just asked to partner up on a business venture where my expertise is key?
Posted by admin on 25 Jul 2010 3:08 pm. Filed under Small Business.
nikki
Since I’m not putting up any of the capital in order to make the business run efficiently, how much of the profit should I demand?
Since I’m not putting up any of the capital in order to make the business run efficiently, how much of the profit should I demand?
One Comment to “I was just asked to partner up on a business venture where my expertise is key?”
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On July 28th, 2010 at 12:04 pm
It is not only money that creates a partner. If I am bringing the money (and will do nothing else), you are bringing the know how (but will doing else), and our friend is doing the day to day operations… Then we could do an equal split, three ways. You have to look at how much is what you are putting up worth. Would it be cheaper for me to go out and and hire somebody, then to give you 50%? Am I putting up the money, doing all the work and you are just a consultant? You should ask/demand for your true value, but it is up to all partners to agree on what that value is worth & just what your role will be,