About four months ago i suggested a great business idea to a friend of mine. We were getting very close at the time and i mistooke his interest in me for his character. Meaning he acted and pretended to be the best guy ever in order to get my attention and i thought that was really his character. Now i have seen his true character and even though we continue to be friends i know for sure that i could never do serious business with him. He has only contributed maybe an hour or two of research to the business idea and has no skill to contribute to the idea since the skills needed require schooling and training. I have been feeling held up by him because i am waiting for him to loose interest but he doesnt seem to.
How do i break the deal with him or do i just start the business without saying anything to him and mind you we live 20 mins from each other and are in the same circle of friends?
2007-04-17 05:01:45 · 8 answers · asked by finito 2 in Business & Finance ➔ Careers & Employment
Have you signed anything or committed anything to paper? If there's no business agreement on paper between you two, just tell him that you have decided to pursue other avenues at this time and you appreciate his help, but you need to move on.
Good luck! :)
2007-04-17 05:05:31 · answer #1 · answered by searching_please 6 · 0⤊ 0⤋
For the purposes of this answer, I am going to assume you have no binding contract. Reiterate- binding.
This then becomes a question of business ethics. Business ethics is a matter of personal choice. If your partner is not qualified to perform to expectations:
(1) ask the partner to perform tasks for which they are qualified.
(2) ask your partner to get the qualifications required to perform to expectations.
(3) thank your partner for their help (even if there was none), inform your partner that you are moving forward with the project and that their input is no longer required. Do not offer payment.
Since you are in the same circle of friends, any course which frees you to pursue your opportunity alone will cause friction. You can mitigate this friction but that will take honesty and effort from both of you.
These types of situations are never pleasant; however, as a business person you will have to learn to handle these types of situations.
2007-04-17 05:34:06 · answer #2 · answered by Nerdo 1 · 0⤊ 0⤋
Delay starting this business venture, do a little more research. In the mean time, tell your friend that plans fell through. In a month or two, start it up. If things arise, tell him that a new window of opportunity opened, but with stipulations barring him from involvement. Of course they would have to be case specific.
2007-04-17 05:06:10 · answer #3 · answered by shark805 2 · 0⤊ 0⤋
Rather than beat around the bush, just be frank. You need someone of specific skills not mere interests to start and manage the business. One's got to be practical to make ideas work.
Thank him for input and get on with your business implementation.
2007-04-17 05:08:26 · answer #4 · answered by Azureskies 3 · 0⤊ 0⤋
There is nothing to break. A proposed deal is not a contract. Just tell him you're no longer interested in pursuing a partnership with him and leave it at that. Offer to pay him for his time as a consulting fee if he complains about the time he has "invested."
2007-04-17 05:06:45 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Tell him about your thought that you have and ask him what will he do if he is in your position - unbiased answer (he should not favor himself - while he is in your position)
If at all you sensed something wrong in the proposal after a certain period of time how would you / he end it.
Always there should exist a EXIT Plan so that either one of you can trigger that when in need
2007-04-17 06:14:07 · answer #6 · answered by tsudhi 1 · 0⤊ 0⤋
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2016-10-03 03:12:53 · answer #7 · answered by ? 4 · 0⤊ 0⤋
he maybe would be insulted if you tell him directly but such is reality. you should be very carefull with whom you start business. it is best to do it alone if you can. or find some employee. anyway you have to tell him that you think that he has not enough skills for your job and therefore you do not have other choice. tell him that it is not personal and that when money is in question, you have to be very rational and that he may still be your friend.
2007-04-17 05:08:41 · answer #8 · answered by Suchness 5 · 0⤊ 0⤋