Hi to all members. This is my first post on these forums. Thanx in advance for your advice.
I started my part-time business in 2010 with a laptop and no funds. Now I have 11 employees in that business who work full time. I still work a day job and work on my business after office. A few years back I decided my future vision of building multiple business under a single big brand. Now I have three independently running businesses. All business are independent companies under one brand name. All are owned 100% by me. I am working slowly and steadily to build a big business brand in next 10-15 years. All businesses have same first name...like XXX Softwares; XXX Education, XXX Biotech etc.
I made a business plan, in which one of the business I wanted to start was an IT company which will provide IT support to my other businesses and also take external projects.About 3 months back I started planning to start a new business in IT under the same brand, for which i am still working. Recently I got a proposal from an individual, with lot of money and resources, who is interested in forming a business partnership with me to build an IT company. I am working for him as a consultant on a project. The offer I have got is that I do not start XXX Softwares (which i would have owned 100%), but start a company ABC Softwares in partnership with that person (i guess about 30% my share and 70% his share) and build it. That person is building two software products to be implemented on a national scale. For that he needs IT support, which he wants by building an IT company. He has a lot of money but does not have any experience of IT. He has an offer from someone to buy an IT company XYZ, but that company is not doing well.
I will have to work hard to build ABC Softwares from ground up, first to give IT support to two products he is developing than turn it into an IT company which takes external projects also. If I decline, he will most likely buy XYZ company. If I continue growing my IT company the growth rate will be less as compared to the partnership company due to availability of funds, the path will be same, effort will be the same as it will be for partnership company, but I will own the business. It will take me about 1-2 years to get enough funds to fast-pace my IT company.
So, the first conflict is between starting a partnership or not (i had a bad experience with a partner - had to buy his shares at a huge price); second - shall I start an IT company in partnership with good funds and remove one component of the brand I dream of building or shall I decline the offer and continue with my own IT company with slow growth, till i have adequate funds to fast-pace it 1-2 years later. I look forward to your valuable advice.
I started my part-time business in 2010 with a laptop and no funds. Now I have 11 employees in that business who work full time. I still work a day job and work on my business after office. A few years back I decided my future vision of building multiple business under a single big brand. Now I have three independently running businesses. All business are independent companies under one brand name. All are owned 100% by me. I am working slowly and steadily to build a big business brand in next 10-15 years. All businesses have same first name...like XXX Softwares; XXX Education, XXX Biotech etc.
I made a business plan, in which one of the business I wanted to start was an IT company which will provide IT support to my other businesses and also take external projects.About 3 months back I started planning to start a new business in IT under the same brand, for which i am still working. Recently I got a proposal from an individual, with lot of money and resources, who is interested in forming a business partnership with me to build an IT company. I am working for him as a consultant on a project. The offer I have got is that I do not start XXX Softwares (which i would have owned 100%), but start a company ABC Softwares in partnership with that person (i guess about 30% my share and 70% his share) and build it. That person is building two software products to be implemented on a national scale. For that he needs IT support, which he wants by building an IT company. He has a lot of money but does not have any experience of IT. He has an offer from someone to buy an IT company XYZ, but that company is not doing well.
I will have to work hard to build ABC Softwares from ground up, first to give IT support to two products he is developing than turn it into an IT company which takes external projects also. If I decline, he will most likely buy XYZ company. If I continue growing my IT company the growth rate will be less as compared to the partnership company due to availability of funds, the path will be same, effort will be the same as it will be for partnership company, but I will own the business. It will take me about 1-2 years to get enough funds to fast-pace my IT company.
So, the first conflict is between starting a partnership or not (i had a bad experience with a partner - had to buy his shares at a huge price); second - shall I start an IT company in partnership with good funds and remove one component of the brand I dream of building or shall I decline the offer and continue with my own IT company with slow growth, till i have adequate funds to fast-pace it 1-2 years later. I look forward to your valuable advice.
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