Advise others by using four entrepreneurs: choose the wrong partner horror stories!

recently popular technology blog pandodaily startups anonymous column published an article in this column entrepreneurs and investors, speaking on condition of anonymity, share their experiences about entrepreneurship.

when you first business, you have to do a lot of things, the results often do not have a master. So often we hear, as an entrepreneur you can’t know everything, so entrepreneurs tend to find a partner together to create their own businesses, your partner or understand business, understand technology, either or good at sales, or good at engineering and so on.
In addition to these technical things, and many times also may be your partner signs, to make decisions together with you, even the spiritual pillar. Because a lot of times, it was a lonely road, you need a partner.

so in some ways, joint venture is like a marriage, but also like a real marriage, is not each pair will be successful. Here are some of the entrepreneur’s own reports about their story, because of difficult relationship and partner, led to a business problem:

a story:

I myself is a technical background, but after the thought of a good idea, I started a business trip. First of all, I found the engineer, let him help me to make the samples of the product, therefore I pay a 8% stake. After the success of beta, he asked 16 k – 25 k per month. I can’t afford, so start looking for another technical partners, in addition I also met a Stanford professor, let her to be my consultant, she experienced wide vision. She recommend me a young man, who made a temporary site for me, it made him feel is the CTO. After I got an engineer, he was very dissatisfied and leave. And then can not contact the Stanford professor also, after a period of time, I learned that she was arrested, on charges of kidnapping children. And the new recruit to the engineer is proposed when the CTO, after consulting and investors, I can only give up him. Now I have a good team, also have volume. So the experience of these things before still played a role, is just too much trouble.

story 2:

in 2001 when I started with two other partners of our marketing company. Before we had worked in two companies, and the main idea of this business from me. One partner is responsible for creativity, another is in charge of project management, and I am in charge of sales, and many other operations of the work. But the man who is responsible for project management doesn’t have any experience, often appear a lot of problems, and he is also responsible for accounting work, no experience, did not go well.

in addition, the process of decision making is also very trouble, because the three people’s basic rights, every thing needs repeated discussions, delayed a lot of time. And there was a time in the face of such big difference in judgment, and I had to at home to office, finally we had to hire a consultant, to help us solve the problem.

but the most important problem is that the division of labor is very uneven. Almost all sales is one for myself, and my working hours tend to be two of them twice, I have to constantly promote their actions. Finally one day, they both quit the job, also want to take away all your money, but in the beginning, we signed the relevant agreement.
When starting a business, we are still friends, but after the failure in eight years, we have not spoken.

story 3:

I personally create their own health care company, just a month after they had $75000 in sales, a year after sales reached $2.5 million, and has gained a lot of media coverage. In addition, the company is my own investment, responsible for almost all of the business and work, only there are partners are responsible for product development.

after the partners into the company, first of all complaints for four weeks, and asked me to give him up commissions, there are many other benefits. Before we went to college together, so I’m very trust on him. But as a result, he left from the company, swept away a lot of money, the money is nine times the amount due to him, but also emotionally betrayed me.

after six months time, budget is used up, I have to find someone else to do the product development, was an excellent product design, the result became a mediocre product. I am done consulting work for more than 150 startups, this is my fourth startup, although encountered such a problem, let myself it is difficult to believe, but I still and now the team together to solve the problem.

story 4:

my partner is the CTO of the company, he spent almost all the budget to hire one of his good friend, I think that the friend of his fundamental isn’t worth the price. After they both burn together all of the investment, but could not give out any product and progress. In the end, the need to meet with investors at a conference, nothing left of his life, no products, don’t leave me a penny. I have to shut down the company.
(via pd/quick carp)

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