27 most common mistakes

[rogerservesyou]

Another reason it doesn't work--- Why would you want to give someone half of the profits when you could pay a helper a fraction of that?

2 partners need twice as much income generated to be successfull so why not start 2 seperate businesses and you both can do whatever you want.

Dave

1. Helpers may not give as much nor care as much as a partner. Then again my views on employee's are more than likely 180 degrees different than most peoples here.

2. Partnerships do work, and work well if they are done correctly from the get go. I have several business's that have partners and a couple that do not. I have successes and failures as well. In both cases the failure rate is no different with or without a partner. For many though it is really a mind set issue. If you are sour with them to start they will sour on you.

3. Partners do not need to make double the profits to be successfull. If each pulls their weight each person only needs to make as much as one person. Other bennifits can include tax issues, lowered individual start up costs, shared liability, different skills and more.

[Watkinslawnservice]

1. Helpers may not give as much nor care as much as a partner. Then again my views on employee's are more than likely 180 degrees different than most peoples here.

2. Partnerships do work, and work well if they are done correctly from the get go. I have several business's that have partners and a couple that do not. I have successes and failures as well. In both cases the failure rate is no different with or without a partner. For many though it is really a mind set issue. If you are sour with them to start they will sour on you.

3. Partners do not need to make double the profits to be successfull. If each pulls their weight each person only needs to make as much as one person. Other bennifits can include tax issues, lowered individual start up costs, shared liability, different skills and more.

1. If you choose your employees wiseley and PAY them WELL you can get very good production per dollar spent. Some times employees will work harder than the partner because of the fear of losing thier job where the partner has no fear of this and no one will be willing to take orders which creates a power struggle usually.

2. I can't argue with you if partnerships have worked for you in the past but I would have to say that they will fail at a much higher rate than sole proprioters or corporations.

3. A partnership certainly does need to make twice the income in order to survive. If you would like to make say $50,000 per year take home, then so does your partner. Hence you would have to have a net profit of $100,000. Also if you made say $400 today after expenses with a partner, you will have only made $200, but if you had an employee instead you would have probably paid him something like $100 and kept $300 for the day and probably been able to pawn off more of the harder work onto the employee than you would have to the partner.

Dave

[Phil Nilsson]

"3. A partnership certainly does need to make twice the income in order to survive. If you would like to make say $50,000 per year take home, then so does your partner. Hence you would have to have a net profit of $100,000. Also if you made say $400 today after expenses with a partner, you will have only made $200, but if you had an employee instead you would have probably paid him something like $100 and kept $300 for the day and probably been able to pawn off more of the harder work onto the employee than you would have to the partner."

Dave

He's right ...

[vaughnslawns]

oldie but goodie