Would you consider bringing in a partner to assist you with your business? I have been running mine for over two years but want to take it further.

Need some experience and financial backing. Do you think bringing in a partner at this late stage would be good? :)

Our company went through that, and there is a lot to think about. What happens to current revenue, what if the other brings in more or less clients, what if one party wants to leave? Are you simply looking for money and experience? You may be better with a loan and hiring somebody.

Both experience and money. I have thought of a loan but hate the thought of owing money :(

Both experience and money. I have thought of a loan but hate the thought of owing money :(


Don't think as loan but as financial leverage :D

http://en.wikipedia.org/wiki/Leverage_(finance)

Ahh, I didn't notice you were from England. I don't know how the taxes work over there, with partnerships here they are strange. If someone buys in for 10%, they pay 10% of tax and you pay 90%. No matter cash distribution. It was certainly and education. Just make sure you maintain decision making power!

One way to do it without "owing" people money is to get an investor (most likely an angel..this is not a seed-round VC type of business) and then they get an equity stake and part of the profits. For experience, just hire a manager as a salaried employee, and most likely with a profit-share, options, or equity stake (perhaps with a ratchet).

Nah don't do loans...

Find some investor like people above said.

And a partner who's willing to do what he can to make your business grow. So someone you trust. Don't just hire someone for pay who won't put much effort into this.

Starting a company's going to take work, and you by yourself won't help you at all.

I have three brands and have different partners for each. It works well, but everyone has to be on the same page or you're doomed. I'm lucky (or careful?) enough that each of my partners share my goals and work ethics.

Find a partner who can bring something to the table that you can't. For example, I handle a lot of sales/customer service/management tasks - but have little technical knowledge. The people I partner with generally have the technical background, but don't like dealing with people so much. Together we have what I would consider a winning team.

--Tina

I agree with what Tina said. Find a partner who can inject "critical mass" in your business else you are doomed.

I am taking notes on this. Isn't showing a investor your business plan risky? The person could leak your plans if they are a rogue. Is there any way to prevent this?

I am taking notes on this. Isn't showing a investor your business plan risky? The person could leak your plans if they are a rogue. Is there any way to prevent this?

Well you can use an NDA, but unless your idea is totally different to what every other host does.

I wouldn't worry.

Just be very careful who you talk to and always make it known what you want in return early on so you don't waste time talking with people who don't match your criteria.

Its always a risk, but then business always has risks involved.

Best of Luck with it, you could even post on wht asking for people interested,like companies do when they are selling their clients/business.

I am taking notes on this. Isn't showing a investor your business plan risky? The person could leak your plans if they are a rogue. Is there any way to prevent this?

If just knowing what's in your business plan is enough for your company to go under, then you need to re-evaluate your business plan. It means the barrier to entry is way too low, and switching costs are low, and buyer power is high. Read about Porter's Five Forces for some hints.

just make sure the person you get is willing to work as much as you and has experience in the chosen field. what Tina said is correct if you work as a team, this can be fantastic for your company.
good luck in your decisions.

Unless the incoming partner has a lot to bring to the company (e.g. funds, expertise, maybe an existing hosting company) I would be wary about bringing him/her on board. Why would you want to entitle someone to half of your profits, half of the company when you've spent years building it up? What will happen if/when the partnership ends? These are some of the things you'll have to consider.

Partners? Never again.
Get a loan if you need a funds injection, paying it back to the bank is a whole lot better than answering to some twerp who isn't inputting.

Partners? Never again.
Get a loan if you need a funds injection, paying it back to the bank is a whole lot better than answering to some twerp who isn't inputting.

Could not say it better!! no partners agreed

go public and raise money