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About 3 years ago my husband and I decided to get out of the military life and start a construction company, he is a good and inteligent person and he does well in whatever he puts his mind in. He took his test and pasted it with flying colors. Around the same time, we met his now business partner, he also atempted the test and failed, so he came to my husband wanting to join forces, he had experience managing appartments and also had experienced in the building industry so after praying a lot my husband decided that it would be a good idea. Of course his business partner did not join right away, my husband ran the company by himself for a year, his business partner would just come on the weekend and helped, until my husband told him that he needed to come full time and leave his other job or just leave the company, after a lot of pushing my husband's business partner decided to leave his job and joined us full time. For a couple of years my husband and his buss partner have worked a lot to build the company up, they are now getting into comercial contruction as well. Mainly my husband's buss partner has been running a lot of the big jobs while my husband has been running smaller jobs and also been taking care of all the paper involved with running the company, insurance, taxes, etc... sometimes he closes himself in the office and that is all he does, since there is a lot involved, plus taking care of broken trailors and fixing up computers etc...
Just yesterday his buss partner decided to tell my husband that my husband was not making enough money and that he was just dead weight and that he(buss partner) felt that he had been working to pay for 2 families and that it is not fair etc..., he just does not see the value of what my husband brings to the table.
My husband is thinking about selling his part to his business partner since they are just unequally yolked.
Tom's business partner just wants money all the time, I understand money is important to run a business but money is all he thinks about, not the future, not his family etc...
My husband and I are Christians and in fact he is the deacon of our church, we are very devoted to our believes and while money is important we don't live our lives thinking that money is the answer to all of our problems.
In a way I feel relieved that we can finally get out and start something new but I also feel angry since I think my husbands efforts for the past 3 years have been completely wasted, I feel his business partner has been thinking about taking over the company for a long time, and just needed an excuse.
It is true that my husband's buss partner has been getting bigger jobs but intead of letting my husband run some of the big jobs and help he has just been giving him the smaller type jobs to run. I think his intention was to keep all the big clients so when the time came he could just run.
I am praying so my emotions don't cloud my judgedment, I also want to support my husband in his decision making, be a good wife and good mother for my kids.
I am sure God will help us through this hard times and that my husband will find another bussiness venture to do, but this means that we will have to start all over again.
My impression is that the company went from being founded by your husband to being seemingly dominated by his partner. If that's the case, I hope that it appropriately reflects the business model, and not just emotional or interpersonal dynamics.
So where the business model is concerned, a few questions are in order: What are the terms of the partnership? For example, is there a majority owner? What are the financial and nonfinancial resources that each partner has brought to the company, and what resources does each plan to bring in the future? How are profits and/or losses split between them? The reason I ask is that one of the keys to a successful partnership is that the distribution of risks and rewards for each partner are commensurate with the resources they bring to the business, and how well they perform individually.
Thank you for responding so quick! Both my husband and his buss partner are equal partners 50%. They placed the same amount of $ in the begining. I guess about what every partner brings to the business I would say my husband did not have as much experience but he is definetely the brains of the corporation, because of his ability to learn things quick he has been able to save his business partner in multiple occasions. For example, about a year ago my husband and buss partner were able to get a big job remodeling a restaurant into a Rental car center, many things went wrong that needed detailed calculations and thinking, the company they hired to do the drafting of the project did it wrong and so my husband even though he is not an engineer was able to fix the mistakes. He was also the one dealing with the county to pull permits and talking to all the people that was required to star the job process. Now this rental car company is one of our biggest clients, in part because of my husband's meticulous work, and honesty.
Tom's business partner is not capable of doing all of this. Also any electrical required my husband takes care of since the buss partner is incapable of understanding e;ectrical.
While my husband stops and thinks through the project to do it well, his business partner much rather do it fast and get his money quick.
According to my husbands buss partner he can hire somebody to do all the things my husband does, but to tell you the truth I doubt he will find somebody that will do it as well and also that will spend night and day working on it for what he is willing to pay them. I am not sure how my husband buss partner will be able to run the infrastructure of the company since my husband has been the one runing it for 3 years.
Even though my husband started with not a lot of experience in the begining, right now he is very experienced and can take on any project big or small.
The only difference is that my husbands buss partner has more leads due to his previous experience as a manager of appartment. Also he tends to tell clients what they want to hear even though at the end he might not deliver and my husband is honest and tells his clients the way things are, but I guess people much rather have somebody lie to them to hear what they want.
In any case my husbands buss partner just does not appreciate what my husband brings to the buss so we just need to part ways.
