I am involved with a rapidly growing company and I have two other business partners of equal shares. One of my business partners tends to be lazy, he comes in late and leaves early, just last Friday he walked in at about 1:30pm with a hang over and missed two meetings with clients and left at 4:00pm.
However he insists that he is doing "the best" he can. He also believes that his personal life does not affect his business.
With out changing the equality, how do I get him to straighten up?
Or, if I change the equality, how should I go about doing that?
2006-09-10 09:48:56 · 8 answers · asked by Manny Fresh 2 in Business & Finance ➔ Careers & Employment
both you and the other partner must sit him down and find out what the underlying cause is, it could be a problem he is unable to resolve with out assistance. In addition you must clearly define his responsibilities and expected level of productivity; this gives him clear guide lines to work towards. He must verbally or in writing agree to these terms. Document the meeting and set a date to review the business and it's direction.
2006-09-10 09:56:29 · answer #1 · answered by michael b 2 · 0⤊ 0⤋
That's one of the problems associated with business partners and why I choose to work alone. The other partner and you will have to come up with a buy out option that he will have to accept or you continue to negotiate and renegotiate. Your question is a legal one, not a personal one. See a competant attorney. Whether that partner had a hang over or was hit by a bus, you should not be dependant on someone else to attend meetings and such. If he's not competant, get rid of him!!! You cannot discipline an undisciplined person. You just have to take action... and NOW.
2006-09-10 09:58:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Based on your version of the story, you would be foolish to keep him as a partner. without more detail, I couldn't answer your question fully, but would want to know if you had invested equal amounts of money and if you have a written agreement governing your partnership.
Get a good business lawyer to draw one up or interpret the agreement you have. You can ask a lawyer what their approach will be and how much they would charge without them billing you for their time.
2006-09-10 09:56:48 · answer #3 · answered by Henry Island 1 · 0⤊ 0⤋
have you and the other partner been documenting the behavior?
if so you two need to have a meeting with the slacker and explain it to him that this isn't acceptable behavior and if it continues you will lessen his responsibilities as well as his compensation, equality in any relationship means equal input. or you and the other partner can buy him out of his share with the stipulation of
a non-competition clause(get a lawyer to draw one up).
2006-09-10 10:03:37 · answer #4 · answered by barrbou214 6 · 0⤊ 0⤋
talk to the other (good) partner and get him/her on your side, then the two of you can straighten out with the third (bad) party and hope for the best. Either he shape up or sell out his partnership.
2006-09-10 09:58:49 · answer #5 · answered by Peter_F 3 · 0⤊ 0⤋
It depends on many factors
2016-08-20 06:00:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Fire him. If he can't do his job properly, get someone who can.
2006-09-10 09:55:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I hate long questions, can you condense it ??? ~~
2006-09-10 09:50:12 · answer #8 · answered by Anonymous · 0⤊ 0⤋