To Partner or Not to Partner?

celebnowcelebnow Posts: 4subscriber
What is the general consent? Should you partner with another company when the workload gets to big to bear?
Or is the headache potential too great?

Comments

  • adampurcelladampurcell Posts: 0subscriber
    It`s a big question..... I found I needed a partner with some of my projects,
    but I sort an individual I already had relationship with. Already having trust,
    as well as knowing the strengths and weaknesses took a lot of the risk out
    of it.
  • PatP3005PatP3005 Posts: 2subscriber
    My husband is a cabinetmaker. Two man shop. It is a very small community (the cabinetmaker community, not the community where we live), so they all know each other. One of my husband`s best friends also has a cabinet shop. They go back and forth all the time on jobs. If one is snowed under, the other might make the doors for a job. They treat it as a sale. If my husband makes doors for his friend`s job, his friend pays him for the doors, end of "partnership." Then, if need be, they`ll do it again.
    But as Adam said, it`s someone he already knows and has a lot of trust in. As an accountant, I`ve seen too many partnerships go south. It has to be handled very businesslike, no verbal agreements. I have a lot more horror stories than successes, but the successes are really great.
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