What's your view about having a sleeping partner in a business

Shavkat · Mar 9, 2023

Starmix said:
Better hire a business partner not family related for there is always contradictions.

I agree with you that it is better to have a business not from the family clan. There are times that money related dillemmas can break the family ties. The option you mentioned is far better to consider.

Bisolami · Mar 9, 2023

Shavkat said:
I agree with you that it is better to have a business not from the family clan. There are times that money related dillemmas can break the family ties. The option you mentioned is far better to consider.

This is the best idea and the best way to do your business with other people because doing your business with family may be kind of tiring

Magnus2022 · Mar 9, 2023

This kind of partnership is quite interesting. If I have a such partner, we will not share the profit equally. If he agreed on the formula of 60/40, I will gladly enter into the partnership. In this kind of partnership, there is need to have a written document to avoid unnecessary legal issues.

Bisolami · Mar 9, 2023

Magnus2022 said:
This kind of partnership is quite interesting. If I have a such partner, we will not share the profit equally. If he agreed on the formula of 60/40, I will gladly enter into the partnership. In this kind of partnership, there is need to have a written document to avoid unnecessary legal issues.

It will be better to invite a legal practitioner so that you people will sign and there will not be a form of disagreement when it is time to share the money

IB D · Mar 9, 2023

It depends on the initial agreement that was contracted at the start of the partnership. That's why you need to define terms clearly in a partnership business to avoid ambiguity at the end.

Heatman · Mar 9, 2023

cherry123 said:
A sleeping partner only contributes some kind of capital in a business and doesn't take active part in the business but you have to share the profit of the business with the person. Do you like this kind of partnership?

A business partner is someone that is supposed to help you run your business successfully in positive ways and not someone that is going to be dormant in the business which is why whenever I have someone who is not willing to play his role as a partner in a business, I will always make sure to end the contract.

cherry123 · Mar 9, 2023

Sleeping partner is still good as everyone can't be active in the business but the good thing is that they are contributing in no little way to the growth of the business

What's your view about having a sleeping partner in a business

Shavkat

Very Familiar

Bisolami

Very Familiar

Magnus2022

Notable

Bisolami

Very Familiar

IB D

Well Known

Heatman

Team Lead

cherry123

Popular

Connect With Us