I have an established small yet growing business and just recently bought out my business partner. The company was founded in my youth, not in a smart or correct way, I did not know what I was doing. I was burned. I connected with another individual who is very interested and experienced with goals of being a partner in my business, and I have no idea how to make an attractive offer that makes sense but also protects me. Is it over the course of a few years? Any help much appreciated!

Be sure that this business opportunity is the best option for you. It could seem, at this point, that you may need a partner but possibly you may need to continue to allow the business to grow.

If you have decided that partnership is the best option for you, be sure to thoroughly vet your potential partner and protect yourself not only from a legal standpoint, but also from a relational aspect as well. Meaning, for example, are you friends with the individual, do you share like values, do you have the same business goals and ideas, and most importantly, can you trust the partner in your absence in all aspects of the business.

Let's talk to ensure this is the best option for you and your future.

Answered 3 years ago

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