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Building a brand versus business partnerships
akash2017
subscriber Posts: 2
Hi to all members. This is my first post on these forums. Thanx in advance for your advice.
I started my part-time business in 2010 with a laptop and no funds. Now I have 11 employees in that business who work full time. I still work a day job and work on my business after office. A few years back I decided my future vision of building multiple business under a single big brand. Now I have three independently running businesses. All business are independent companies under one brand name. All are owned 100% by me. I am working slowly and steadily to build a big business brand in next 10-15 years. About 3 months back I started planning to start a new business in IT under the same brand, for which i am still working. Recently I got a proposal from an individual, with lot of money and resources, who is interested in forming a business partnership with me to build an IT company. I am working for him as a consultant on a project. His condition is that if I form an IT company with him, I can not start my own IT business, under my brand that I have been building since 3 months.
My dilemma is that do I form an IT company in partnership with him and let go of the IT business I am building under my brand; or do I decline his proposal and go ahead with my business plans?
I started my part-time business in 2010 with a laptop and no funds. Now I have 11 employees in that business who work full time. I still work a day job and work on my business after office. A few years back I decided my future vision of building multiple business under a single big brand. Now I have three independently running businesses. All business are independent companies under one brand name. All are owned 100% by me. I am working slowly and steadily to build a big business brand in next 10-15 years. About 3 months back I started planning to start a new business in IT under the same brand, for which i am still working. Recently I got a proposal from an individual, with lot of money and resources, who is interested in forming a business partnership with me to build an IT company. I am working for him as a consultant on a project. His condition is that if I form an IT company with him, I can not start my own IT business, under my brand that I have been building since 3 months.
My dilemma is that do I form an IT company in partnership with him and let go of the IT business I am building under my brand; or do I decline his proposal and go ahead with my business plans?
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