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Thread: hindsite qustion?

  1. #11
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    Quote Originally Posted by BillR View Post
    In my case I wouldn't take on business partners where no one had controlling interest. I am in a business with 3 owners all of which have 33% ownership.

    It's like herding cats.

    I am going to correct this very soon. I'll be posting quite substantially about it when the time comes.
    hmm who gets the extra 1%?
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  2. #12

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    Hmmmm... let's see here. Where to start?, I've made many mistakes. All have been incredible lessons.

    OK, here's one: I would be quicker to fire employees who cause trouble. Get rid of 'em that day, make 'em pack a box and walk 'em to the door. Otherwise you've got poison in your well.
    Mike Sweeney
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  3. #13
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    Quote Originally Posted by Ad-Vice_Man View Post
    hmm who gets the extra 1%?
    Okay so it's more like 33.33333333% each.

  4. #14
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    ahhh gotcha.

    Maybe you could buy back a portion from the other two so that the majority holder is you, but it would take both of them together to over rule you... IE you take 40% then each of the others has 30% each. This effectively gives you control over most things (ie the mundane, day to day operational decisions) but allows the other two some leverage for the bigger deal stuff.
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    Blogdog, that is a good point. While depending on how they are employed i guess there is something's you have to be careful with when firing, i do think that at least taking action against employee's that do the wrong thing needs to be something that happens fast.

    Especially in circumstances where it is something that they know is wrong and other employee's see it happen and see that it may not be pursued like it should be. This can just lead to trouble and employee's feeling they are not being treated equally.
    Joel Brown
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  6. #16
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    Quote Originally Posted by Ad-Vice_Man View Post
    ahhh gotcha.

    Maybe you could buy back a portion from the other two so that the majority holder is you, but it would take both of them together to over rule you... IE you take 40% then each of the others has 30% each. This effectively gives you control over most things (ie the mundane, day to day operational decisions) but allows the other two some leverage for the bigger deal stuff.
    It's more a question of roles in the company. Basically I've been in the trenches with customers for 11 years. I want out. I have effectively no job advancement opportunities for myself personally due to a number of factors.

    It's not necessarily my partners fault or mine - it's just the way the business is going is not what I envision for myself. So I'm going to move on and do my own thing. I want a clean break with no drama and without anybody getting really upset over me leaving.

    That's probably a pipe dream

  7. #17
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    hate to admit it but our business is in year 30....what i wish id done different is have higher profit standards....i tend to ok things at too low a profit ....this worked in our early days when we were all wholesale and had tremendous turnover....but its not like that now....and sometimes we have put out big effort for not enough return....
    sometimes the inferior profit idea was the best idea, or seemed to be...
    i sure like to have lots of baby ideas floating around, i hate to stomp them out too early.... which has helped us survive im sure...
    ann
    ann at greenoak www.greenoakantiques.com

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