| Casual Articles |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Small Business > The Problems with Partnerships |
|
Casual Articles - The Problems with Partnerships
They're Not Robots nership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it.Do you know each of your people? The individual they really are, not just the person who works for you? Do you know their spouse's name? What about the kids? As much as we are individuals we also have common desires that motivate us. In his theory “The Hierarchy of Needs” Abraham Maslow defines those common desires as:Physiological- The desire for food, shelter, warmth and comfortSafety- The desire to survive without threatBelonging- The desire to be a part of something with common interestEsteem- The desire for recognition of the mastery of ta This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expen Boosting Your Business With A Merchant Account Webster’s dictionary describes a partnership as: “a legal relation existing between two or more persons contractually associated as joint principals in a business or a relationship resembling a legal partnership and usually involving close cooperation between parties having specified and joint rights and responsibilities.”The great majority of business conducted online is processed with a credit card. Also, credit card sales tend to be four times larger than a sale completed any other way. Knowing that most people decide to use a credit card and spend more when doing so, it only makes sense to be able to accept credit card payments.The first step to being able to accept credit card payments is getting a merchant account. A merchant account is a special type of bank account that is able to receive payments from credit card purchases. Along with your account you will also need a hardware or software That’s the “official” definition. I describe it as absolute futility between consenting adults, who probably should have know better in the first place. So what exactly qualifies me to be so flippant about a business entity that millions of people of which are actively engaged? My experience in partnerships goes way back to my college days. I was assigned, or chose, various partners for projects and remember quite vividly what transpired. One of us, mainly me, would do most of the work and yet both of us got the credit. While the details may be sketchy, the outcome was crystal clear. Now fast forward to my adult life. I’ve had a few business partnerships and, once again, seemed to have been the dominant worker between the two of us. The concept is always wonderful. We decide to market a product or service and formulate a plan. I, possessing an advertising degree and background, will devise a promotional program while the other guy, I’ll call “Fred,” will do whatever they do best. So we divide up the chores and set to work. I would do the requisite research, statistical analysis, cost projections, and media studies, while Fred was responsible for sales and product production. After a week or two, I’m ready with my end and we meet to discuss our progress. Or lack of progress on one of our parts, I’m afraid. It’s not that Fred didn’t put out any effort, because he surely tried, it’s just that spending about ten minutes actually thinking about the product didn’t equate to fulfilling his end. So, without being bitter or petty, I called him a lazy moron and asked him to do his fair share. He looked hurt, but understood my subtle point and agreed to do more. Lifting his little finger would be more, I gentle explained, and we set up another meeting a week hence. It’s a week later, and a weak later on his end, once more. He still has done very little, blaming everything from the weather, the kid’s needs, his wife’s needs and the dog’s needs. Fred says it’s been a rough week. I’m sympathetic and call him a really, really, lazy moron and feel that this partnership is in big trouble. After a few more weeks, we get a business divorce. Closer to the recent past, I formed another ill-advised partnership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it. This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expens Are You Prepared For The Coming Knowledge Based Careers s way back to my college days. I was assigned, or chose, various partners for projects and remember quite vividly what transpired. One of us, mainly me, would do most of the work and yet both of us got the credit. While the details may be sketchy, the outcome was crystal clear. Now fast forward to my adult life.For the mid career professional, career and job changes have increasingly become a way of life. The Bureau of Labor Statistics reports that over the past 25 years, Baby Boomers have held an average of 10.5 jobs. That’s moving to a new position every 2.5 years! The impact to work/life balance, skills development, managing change and transition is significant. So what does this mean for the mid career professional, in terms of developing and preparing for this shift in job/career management?We are seeing this seismic shift to more knowledge based vs. skills based workers. Today, yo I’ve had a few business partnerships and, once again, seemed to have been the dominant worker between the two of us. The concept is always wonderful. We decide to market a product or service and formulate a plan. I, possessing an advertising degree and background, will devise a promotional program while the other guy, I’ll call “Fred,” will do whatever they do best. So we divide up the chores and set to work. I would do the requisite research, statistical analysis, cost projections, and media studies, while Fred was responsible for sales and product production. After a week or two, I’m ready with my end and we meet to discuss our progress. Or lack of progress on one of our parts, I’m afraid. It’s not that Fred didn’t put out any effort, because he surely tried, it’s just that spending about ten minutes actually thinking about the product didn’t equate to fulfilling his end. So, without being bitter or petty, I called him a lazy moron and asked him to do his fair share. He looked hurt, but understood my subtle point and agreed to do more. Lifting his little finger would be more, I gentle explained, and we set up another meeting a week hence. It’s a week later, and a weak later on his end, once more. He still has done very little, blaming everything from the weather, the kid’s needs, his wife’s needs and the dog’s needs. Fred says it’s been a rough week. I’m sympathetic and call him a really, really, lazy moron and feel that this partnership is in big trouble. After a few more weeks, we get a business divorce. Closer to the recent past, I formed another ill-advised partnership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it. This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expen Employers Can Pay for Employee Education Costs & Gain a Tax Benefit: Section 127 Plans quo; will do whatever they do best. So we divide up the chores and set to work. I would do the requisite research, statistical analysis, cost projections, and media studies, while Fred was responsible for sales and product production. After a week or two, I’m ready with my end and we meet to discuss our progress.Congress has provided a number of tax incentives to encourage employers to provide employee education. This article discusses one of the most overlooked employer education tax incentive, Section 127 plans.Section 127 allows employers to create a program for providing employee education (up to $5,250 per year per employee), while permitting the employer a deduction and allowing the employees to exclude the amounts from their taxable income.Absent a Section 127 plan, the education tax rules can be a bit, well, confusing. Absent a Section 127 Plan (and assuming that the Sec Or lack of progress on one of our parts, I’m afraid. It’s not that Fred didn’t put out any effort, because he surely tried, it’s just that spending about ten minutes actually thinking about the product didn’t equate to fulfilling his end. So, without being bitter or petty, I called him a lazy moron and asked him to do his fair share. He looked hurt, but understood my subtle point and agreed to do more. Lifting his little finger would be more, I gentle explained, and we set up another meeting a week hence. It’s a week later, and a weak later on his end, once more. He still has done very little, blaming everything from the weather, the kid’s needs, his wife’s needs and the dog’s needs. Fred says it’s been a rough week. I’m sympathetic and call him a really, really, lazy moron and feel that this partnership is in big trouble. After a few more weeks, we get a business divorce. Closer to the recent past, I formed another ill-advised partnership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it. This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expen A Clear Business Card Design II o his fair share. He looked hurt, but understood my subtle point and agreed to do more. Lifting his little finger would be more, I gentle explained, and we set up another meeting a week hence.Although this is fairly straightforward, two caveats apply. Avoid the temptation to get too fancy with the description of your business: you're designing a business card, not writing a resume. Something like "Jeffrey X, Designer of Images To Fuel The Imagination Of A Newborn Millenium" is more likely to confuse your potential contact than delight him or her, and can possibly make you look less like an effective artist and more like a flake. Something like "Jeffrey X, Artist" works perfectly well.Secondly, make sure that you not only include your contact information, but that y It’s a week later, and a weak later on his end, once more. He still has done very little, blaming everything from the weather, the kid’s needs, his wife’s needs and the dog’s needs. Fred says it’s been a rough week. I’m sympathetic and call him a really, really, lazy moron and feel that this partnership is in big trouble. After a few more weeks, we get a business divorce. Closer to the recent past, I formed another ill-advised partnership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it. This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expen The Price Conscious Indian Shopper nership to start a new business from the ground up. This time, as a change of pace, I would be head of sales and responsible for contacting businesses. I would collect payments and my partner would produce the marketing material for each business. So, I began the selling and signed up several accounts. Each time I turned in a check, I asked about the promotional literature we were supposed to be supplying. Al, I’ll call him, said he was working on it.The Indian economy is growing at an extremely rapid pace. The boom in the IT and BPO industry has created a huge pool of Indians with a high level of disposable income. The Indian domestic market has nonetheless become the most favored destination of international marketers. However, while trying to sell their products in the Indian markets International sellers face the rather insurmountable difficulty of catering their product to an extremely price conscious community. The Indian shoppers have a rather peculiar characteristic.They are easily hooked towards imported products an This went on for months. Each time I promised the business some advertising, Al would come up with some excuse as to why he wasn’t following up. “We need more businesses. It’s too expensive. I’m redesigning the program. My dog ate my homework.” No wait, that last one was for my wife, who’s a college professor. Anyway, you get my drift. Will you be amazed that we are no longer partners? Once again, one of us did all the work. Now you might say I didn’t give the partners enough time or specific instructions. But you would be wrong. I was more than patient and, trust me, they knew exactly what they were doing, or, in most cases, not doing. My obvious advise at this point is to walk, no, run away from anyone asking you to join them in a partnership. It will only lead to frustration and disillusion before actual dissolving the whole affair. The hardest worker will always be resentful and feel like they’ve been taken advantage. So, what am I doing now, you ask? Why, I’m in a partnership of course! We run a home-based website called, “The Nurse’s Choice.” It offers health information and has doctors referred by nurses. You’re probably wondering how I could be so stupid and what kind of lesson am I trying to preach, when I don’t even follow my own advice? I only have one excuse: my partner is my wife and watching my every move as I type this. Any questions?
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Telemarketers May Have Ruined Everything Is Your Store Failing to Connect with Customers?
|