wemakemoney
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- Aug 1, 2013
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I have my first business ever, been in the market for a year now, and my product is amazing, people love it, and I am the one who came up with the entire idea back in 2006, approached my current partner in 2012 to get on board with me knowing his dad has the money and is a lawyer so I can get both investment and legal fees waived at the same time, and I did exactly just that! I work my butt off because this is my baby and my dream come true, my passion is bleeding out of my eyes and everyone sees it.
The problem I have is that I am not majority since I have 45% and my partner and his father have the remaining 55% for investing. The bigger problem is that my partner lacks any sort of vision and he went to school for "entrepreneurship" which makes him think he knows everything about business. My partner also said that he "would rather fail small than fail big" in a business meeting with a big tech investor I networked with who wanted to invest 1MILLION into the business and everyone was silent when we heard those words.
My partner and his father do not want to give up control of the business and the reality of it is that my partners father wants to make sure his son has security and if he maintains control then he can look out for his son because he knows if any other investor was involved then they would see how lazy and unwise my partner really is.
I now have to make a decision, continue working my butt off with in hopes to try and buy them out eventually which I dont think they will ever give up control or let me have control even though I am the vision of the company, OR I find something else to do.
I have met so many people and have other opportunities but it is so hard to just walk away from this, the product is in demand, its a game-changer and I know I can make it success, I just need better partners and an ACTIVE investor who isn't my partners daddy sitting in the background who has the "swing vote" and on top of it all my partner is always talking about spending money and how we have to watch the money and its all because its his daddy's money. The investor I brought to the table even offered to guarantee my partners fathers investment back but they killed the deal by telling the investor his offer was not serious and never even countered. What do I do?????
The problem I have is that I am not majority since I have 45% and my partner and his father have the remaining 55% for investing. The bigger problem is that my partner lacks any sort of vision and he went to school for "entrepreneurship" which makes him think he knows everything about business. My partner also said that he "would rather fail small than fail big" in a business meeting with a big tech investor I networked with who wanted to invest 1MILLION into the business and everyone was silent when we heard those words.
My partner and his father do not want to give up control of the business and the reality of it is that my partners father wants to make sure his son has security and if he maintains control then he can look out for his son because he knows if any other investor was involved then they would see how lazy and unwise my partner really is.
I now have to make a decision, continue working my butt off with in hopes to try and buy them out eventually which I dont think they will ever give up control or let me have control even though I am the vision of the company, OR I find something else to do.
I have met so many people and have other opportunities but it is so hard to just walk away from this, the product is in demand, its a game-changer and I know I can make it success, I just need better partners and an ACTIVE investor who isn't my partners daddy sitting in the background who has the "swing vote" and on top of it all my partner is always talking about spending money and how we have to watch the money and its all because its his daddy's money. The investor I brought to the table even offered to guarantee my partners fathers investment back but they killed the deal by telling the investor his offer was not serious and never even countered. What do I do?????
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