I currently have a day job and at the same time, I've been running a company on the side for almost 2 years. I usually work on weeknights after my day job. My current responsibilities are more of management and oversight as I spent close to 2 years laying the foundation for the business. Throughout the 2 years of business-building, my business partner has not been contributing as much as me. In many occasions, for many of the tasks which I needed help with, he would do a bad job on purpose so I would end up doing them myself. My business partner is also my personal friend. The share structure of the company is such that I own 33% while my biz partner owned 34%. He roped in his dad to own another 33%. In summary he owns majority of the company shares - something I missed out when I initially started the company due to inexperience. I am currently thinking of leaving the company and selling my shares as I am too frustrated to continue on with the business. Would like to seek any opinion on the best course of action to take. Hope to hear from you guys soon.
Take your capital and start something else of your own with no partners. Make sure you have a lawyer and solid paperwork to end your partnership with your friend and his dad. Soon you'll start turning a good profit because you're used to putting in the effort. In the meantime they'll need your help every now and then for which you will charge them a substantial consulting fee
Are you serious... want business advice on blind.... looks like your friend is smart... Find someone with experience in business in your field and get help from them
Well next beginner mistake not to make is don’t ask for the right valuation when you get out..how much free cash flow do you generate? What was the last year growth?
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