- online pet store business
- family health insurance
- young driver insurance
What can be done when a business partnership has been settled on in words, but not in writing or notarized? My husband and I gave a shot to a person who is very young and close to us for 49% of our company. After he graduated from college and could not find a job, we proposed a deal for him to go into business with us. He has since showed so much disrespect and has made so many mistakes-so many that in my passed positions, I would have fired him 10 times over.
I made the mistake of believing that I would be able to train him, but he fails to listen. Whenever he makes an error, he blames anyone or anything, but himself. He even closes the store early when it suits him. This has come to a great shock to us in the past and first month of our business, as we have always known him to be very responsible. We just wanted to give him a shot.
As of now, we have no written agreement with him, but we have an outside investor that sees our potential & wants to come on board. If something doesn't change, we stand to lose our store in less than a month's time. Our partner has gone so far as to leave the backdoor to our store open to even mess with bookkeeping by changing his loan payments from the middle of the month to the beginning of the month without proper authorization to do so.
My husband and own the majority, and he is insubordinate and late. He has even tried to go behind our backs to our main bank to have them contact him directly.
I am at my wits end, but this is also an individual whom I am personally close. When we first decided to go forward with him as a partner, we were shocked to learn that his own family was extremely surprised that he would have the opportunity. Guess we should have known at that point. I want our business to succeed, but we are floating and now out of time for him to rectify his errors. He offers nothing on the sales floor, as he appears to not have the nerves to deal with clients, and refuses to learn about our products because he believes he doesn't have to study-which after the 100th mess-up in a month should have been enough to prove his theory wrong.
I take responsibility that I made an error in judgement. What can I do now? We can be saved-the other investor wants him out of the picture. Sadly, he wouldn't have even made a decent employee, as he flirts openly with many male customers and costs us further business.
A big lesson has been learned. I just hope this can be solved. Any suggestions are welcomed...help! This means everything to us as everything we own is riding with this business.
I made the mistake of believing that I would be able to train him, but he fails to listen. Whenever he makes an error, he blames anyone or anything, but himself. He even closes the store early when it suits him. This has come to a great shock to us in the past and first month of our business, as we have always known him to be very responsible. We just wanted to give him a shot.
As of now, we have no written agreement with him, but we have an outside investor that sees our potential & wants to come on board. If something doesn't change, we stand to lose our store in less than a month's time. Our partner has gone so far as to leave the backdoor to our store open to even mess with bookkeeping by changing his loan payments from the middle of the month to the beginning of the month without proper authorization to do so.
My husband and own the majority, and he is insubordinate and late. He has even tried to go behind our backs to our main bank to have them contact him directly.
I am at my wits end, but this is also an individual whom I am personally close. When we first decided to go forward with him as a partner, we were shocked to learn that his own family was extremely surprised that he would have the opportunity. Guess we should have known at that point. I want our business to succeed, but we are floating and now out of time for him to rectify his errors. He offers nothing on the sales floor, as he appears to not have the nerves to deal with clients, and refuses to learn about our products because he believes he doesn't have to study-which after the 100th mess-up in a month should have been enough to prove his theory wrong.
I take responsibility that I made an error in judgement. What can I do now? We can be saved-the other investor wants him out of the picture. Sadly, he wouldn't have even made a decent employee, as he flirts openly with many male customers and costs us further business.
A big lesson has been learned. I just hope this can be solved. Any suggestions are welcomed...help! This means everything to us as everything we own is riding with this business.
Bad business partnership?
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