Can really use some business advice

[rollsolo]

Hey all!


New to the forums but have heard and cross paths through several threads on here before. I decided to sign up because I'm really resonating with the content on here on different levels (Business, Personal, Relationship, Universal). I wanted to ask for some advice and didn't really know who to turn to. So why not ask here to get different opinions. I'm not sure if this is the right thread to post this but I figured I'd start here.


I run a small lifestyle brand based on cycling. We produce lots of media content, films, and have a short line of softgoods (T-shirts, Sweatshirts) and have plans to produce more. I started the company solo and one of my friends wanted to work with me after he saw what I was doing. We've been doing this for 2 whole years now. We haven't sold much but recently been offered a business opportunity to produce commercial content for a company that produces cycling gear. We'll be shooting a commercial spot that will be 40 to 60 seconds in length.


When my partner and I scheduled a meeting together with this company over the phone he never showed up. What I mean is I called, left a message and texted him with no response. I went on and proceeded with the interview and pretty much and 75% of closing this deal. I have to send my proposal and see what they say. My partner has never got back to me yet but is liking my facebook post and my instagram post. I'm not sure what to do because I don't want to take on a big project that will take lots of commitment alone. I really need him to be on board with this but I know he can be notorious for missing on on stuff.


He's played an integral roll for the company thus far but just not sure how to handle this. Especially since I don't want to turn down this project as I see this as an opportunity. Has anyone ever been in a situation such as this? I don't mean for this to be so heavy in length I just don't know exactly how to handle this situation.

 

[Pretty_Diamonds]

You need to sit down and have a serious conversation with him. It sounds like he either buckles under pressure or is the kind of guy who likes doing what they want on their own time. And it also sounds like he feels that you can handle these situations on your own, or frankly, doesn't care.

At the end of the day, it's business.

 

[Lysis]

This is why I will never share my business.

Does he own shares in the company or are you a sole owner? You're screwed if he is a part owner. The only thing you can do is work with his strengths and weaknesses. Maybe selling ain't his bag and that's fine if he brings another aspect that you are weak in. Partnerships usually have a blended mix of strengths and weaknesses that as a whole are good for pushing the business forward.

If you sold the contract, if you are part owner you can sign the contract without him. However, that's not a good way to push forward. It should be a consolidated effort between the two of you.

I would also not get into business with friends. Partnership in a business is a marriage and you have to work with what you got because you're tied. If he is not a partner, then you either need to find his strengths and cut him loose on the sales part of it, or cut him loose altogether.

It sounds to me like you are the sole owner, so naturally you have more incentive to care. If you aren't making any money, I assume you aren't paying him and therefore he has no incentive to give a shit. You need to pay him or give him incentive. And no, "we will make millions one day" is not incentive. If I worked for people and their dreams with no monetary compensation, I'd be broke.

Basically, if there is nothing in it for him, you can't expect him to care.

 

[rollsolo]

This is why I will never share my business.

Does he own shares in the company or are you a sole owner? You're screwed if he is a part owner. The only thing you can do is work with his strengths and weaknesses. Maybe selling ain't his bag and that's fine if he brings another aspect that you are weak in. Partnerships usually have a blended mix of strengths and weaknesses that as a whole are good for pushing the business forward.

If you sold the contract, if you are part owner you can sign the contract without him. However, that's not a good way to push forward. It should be a consolidated effort between the two of you.

I would also not get into business with friends. Partnership in a business is a marriage and you have to work with what you got because you're tied. If he is not a partner, then you either need to find his strengths and cut him loose on the sales part of it, or cut him loose altogether.

It sounds to me like you are the sole owner, so naturally you have more incentive to care. If you aren't making any money, I assume you aren't paying him and therefore he has no incentive to give a shit. You need to pay him or give him incentive. And no, "we will make millions one day" is not incentive. If I worked for people and their dreams with no monetary compensation, I'd be broke.

Basically, if there is nothing in it for him, you can't expect him to care.

No nothing is legalized. We just split cost on T-shirts and other apparel which was about $500 each. No contract signed thankfully because I don't think I would ever sign any forms with him and glad I didn't.

 

[Ksa]

If hes high as a kite hes doing you a favor by not showing up for the meeting. Just a tip. If you want to know what hes doing, think about all the things he wouldnèt be able to talk to you about.

 

[Bal0n]

You could of course up the price a tad bit for that particular contract, and hire someone from that extra money to do the integral stuff he has done for the company. Now, this will probably not be a very opportunistic approach in terms of the relationship between you two, but I guess it isn't that good at the moment anyway.