Comments on: How to do Business With a Friend Without Killing Each Other http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/ In Pursuit of the American Dream Wed, 08 Sep 2010 00:01:57 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Rob http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-561 Rob Mon, 04 Feb 2008 11:19:00 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-561 onthuhlist, that's exactly why Mike and I work so well together. I make 100% of the decisions, and he does 100% of the work. onthuhlist, that’s exactly why Mike and I work so well together. I make 100% of the decisions, and he does 100% of the work.

]]> By: onthuhlist http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-526 onthuhlist Fri, 01 Feb 2008 20:35:58 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-526 I'd like to suggest that true 50/50 business partnerships do not work well in the long run because there is no tiebreaker. That's why in marriage, though both husband and wife have equal value as persons, and both contribute 100% toward the marriage, they must play different roles in the marriage. If both husband and wife decided to play the same roles (both manage the finances, both make the final decision on disciplining the kids, both decide where we're going to eat out), then a stalemate occurs at every difference of opinion (and the kids play the parents against one another). In all human relationships, there must be a leader - a person bearing the privilege (and weighty responsibility) of a tie-breaking vote. Of course, I'm not talking about a dictatorship here, either in marriage or in business partnerships. But the plainly observable fact is that the popular view that American society takes towards marriage (that of a 50/50 marriage) just doesn't work...look at all the broken marriages on your street alone! If the popular idea of marriage worked, then why is everyone getting divorced? It's because our ideas are WRONG! Frankly, the idea that "I contribute 50%, and you contribute the other 50%" usually leads to a competitive (even adversarial) relationship where each is waiting for the other to contribute 50% of the work/money/time/effort before they will. Even if it's simply a 51/49 split, there needs to be that one person who carries the final tie-breaking vote. A 50/50 split only works when one of the parties is brain-dead. A 50/50 split does not work if there are two independent minds at work. Nobody reaches agreement/compromise 100% of the time, and that's when 50/50 arrangements become dangerous. I’d like to suggest that true 50/50 business partnerships do not work well in the long run because there is no tiebreaker. That’s why in marriage, though both husband and wife have equal value as persons, and both contribute 100% toward the marriage, they must play different roles in the marriage. If both husband and wife decided to play the same roles (both manage the finances, both make the final decision on disciplining the kids, both decide where we’re going to eat out), then a stalemate occurs at every difference of opinion (and the kids play the parents against one another). In all human relationships, there must be a leader – a person bearing the privilege (and weighty responsibility) of a tie-breaking vote. Of course, I’m not talking about a dictatorship here, either in marriage or in business partnerships. But the plainly observable fact is that the popular view that American society takes towards marriage (that of a 50/50 marriage) just doesn’t work…look at all the broken marriages on your street alone! If the popular idea of marriage worked, then why is everyone getting divorced? It’s because our ideas are WRONG! Frankly, the idea that “I contribute 50%, and you contribute the other 50%” usually leads to a competitive (even adversarial) relationship where each is waiting for the other to contribute 50% of the work/money/time/effort before they will. Even if it’s simply a 51/49 split, there needs to be that one person who carries the final tie-breaking vote. A 50/50 split only works when one of the parties is brain-dead. A 50/50 split does not work if there are two independent minds at work. Nobody reaches agreement/compromise 100% of the time, and that’s when 50/50 arrangements become dangerous.

]]> By: TwoWiseAcres.com--Real estate investing blog | The Dough Roller http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-460 TwoWiseAcres.com--Real estate investing blog | The Dough Roller Sat, 26 Jan 2008 13:13:11 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-460 [...] How to do Business With a Friend Without Killing Each Other [...] [...] How to do Business With a Friend Without Killing Each Other [...]

]]> By: Megan http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-243 Megan Tue, 18 Dec 2007 01:44:05 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-243 I am currently in business with a friend now. Yu have to trust the person you are working with. Have common goals, and have thought into the future. Set your boundaries and expectations up. Most of all be respectful. The benefits to us have been immense. We can delegate task. The most important aspect is our customers get the attention they deserve with both of us. Where with one it would be more difficult to accomplish I do urge caution however whenever looking into a business partnership. It has to feel right first. Megan http://www.PassportMentors.com I am currently in business with a friend now. Yu have to trust the person you are working with. Have common goals, and have thought into the future. Set your boundaries and expectations up. Most of all be respectful.

The benefits to us have been immense. We can delegate task. The most important aspect is our customers get the attention they deserve with both of us. Where with one it would be more difficult to accomplish

I do urge caution however whenever looking into a business partnership. It has to feel right first.

Megan
http://www.PassportMentors.com

]]> By: Rob http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-207 Rob Sat, 08 Dec 2007 10:51:35 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-207 Passerby, we appreciate your comment. Being married for nearly 20 years (to the same woman) does tend to teach you a thing or two. And we hope you convert from passerby to subscriber! Passerby, we appreciate your comment. Being married for nearly 20 years (to the same woman) does tend to teach you a thing or two. And we hope you convert from passerby to subscriber!

]]> By: passerby http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-203 passerby Fri, 07 Dec 2007 15:56:07 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-203 If people put this in practice for marriage, the chances of divorce could reduce to almost nil. -- If people put this in practice for marriage, the chances of divorce could reduce to almost nil.
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]]> By: Sunday Morning Carnival Love | I've Paid For This Twice Already... http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-55 Sunday Morning Carnival Love | I've Paid For This Twice Already... Sun, 21 Oct 2007 12:39:45 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-55 [...] Wise Acres: With friendships in business, please think it all through! Ever wanted to go into business with a friend? Make sure you know what you are getting [...] [...] Wise Acres: With friendships in business, please think it all through! Ever wanted to go into business with a friend? Make sure you know what you are getting [...]

]]> By: Welcome to Carnival of Personal Finance #122 at Mighty Bargain Hunter http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-40 Welcome to Carnival of Personal Finance #122 at Mighty Bargain Hunter Mon, 15 Oct 2007 14:19:40 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-40 [...] here Two Wise Acres has sure got a clue! With friendships in business, please think it all through! Money Smart Life says “You’ll lighten your coffers If you take advantage of free trial [...] [...] here Two Wise Acres has sure got a clue! With friendships in business, please think it all through! Money Smart Life says “You’ll lighten your coffers If you take advantage of free trial [...]

]]> By: Welcome to Carnival of Personal Finance #122 at Mighty Bargain Hunter http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-41 Welcome to Carnival of Personal Finance #122 at Mighty Bargain Hunter Mon, 15 Oct 2007 14:19:40 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-41 [...] here Two Wise Acres has sure got a clue! With friendships in business, please think it all through! Money Smart Life says “You’ll lighten your coffers If you take advantage of free trial [...] [...] here Two Wise Acres has sure got a clue! With friendships in business, please think it all through! Money Smart Life says “You’ll lighten your coffers If you take advantage of free trial [...]

]]> By: Moolanomy weekly roundup #12: “Hello Readers” edition | Moolanomy http://www.twowiseacres.com/real-estate-investing-basics/how-to-do-business-with-a-friend-without-killing-each-other/comment-page-1/#comment-39 Moolanomy weekly roundup #12: “Hello Readers” edition | Moolanomy Mon, 15 Oct 2007 11:36:15 +0000 http://www.twowiseacres.com/2007/10/12/how-to-do-business-with-a-friend-without-killing-each-other/#comment-39 [...] How to do Business With a Friend Without Killing Each Other @ Two Wise Acres — Excellent insight into the world of business partnership. Because of my family history, I am afraid to death about going into any kind of partnership. [...] [...] How to do Business With a Friend Without Killing Each Other @ Two Wise Acres — Excellent insight into the world of business partnership. Because of my family history, I am afraid to death about going into any kind of partnership. [...]

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