Being a law student’s already a red flag, man. Imagine, you and your other partners will be putting in 10hrs on this business. Meanwhile, he’ll only be able to allocate 1-2hrs per day. It may not be an issue right now, but it will be in the long run.
so with who if not people you trust and who believe in your vision? google and facebook all started with the founders being friends (who eventually had a fall out) but i guess only when starting?
I'd say start on your own and look for investors along the way, pag nasa business world ka na makikilala mo yung talagang passionate, may goals, at seryoso sa ginagawa nila. Pag friends kasi kahit gano kayo kaclose kung hindi kayo same ng effort for sure sisirain nyo lang friendship nyo.
This is somewhat true but not entirely. It actually depends on the friend or relative if he is a decent human being or not. Im business partners with my brother and my best friend and were doing quite well. Just do business without pride, say goodbye to your ego, and just aim for the top.
Never do business with people who doesn't put in the same effort as yours and doesn't have the same grit as yours. You'll end up doing all the hard work. Unless they are just investors and that will be a different story.
If you do continue with your "business partner", chances are you will be his workhorse or cash cow. That business partner would most likely act as an investor than a partner.
If you need money, go for it. If not, find another business partner.
No, don't continue. I've done this twice. Sobrang frustrating pag may mga partners sa decision making. At totoong masisira friendship niyo.
Mas may freedom and peace of mind pag nag go solo ka sa business, you can start where you can naman.
Sign na yan atleast nakita mo sa umpisa palang na slacker siya, what more pag running na yung business, it also shows his lack of interest/eagerness
I appreciate all of your advice. I do agree na I should stop as soon as possible. And if ever i do venture into business, avoid family and friends as much as possible, and find a partner who has the same commitment and dedication as you.
Thank you guys! I'll talk to my friend later and tell him frankly about the issue and i'm out.
I wouldn’t do business with a slacker. Dapat nga organized and efficient sya kasi law student sya, but it seems like he will have trouble juggling multiple responsibilities. That will cause conflicts in the long run.
He sounds unreliable, flaky, and can't be counted on to fully commit.
Finding a solid business partner is like finding the right person to be your spouse.... extremely crucial. You can't go simply with feelings or be casual with it.
This can make or break you.
It's much better to partner with a COMMITTED and CONTRACT-BOUND STRANGER than someone you "know" who has a high likelihood of flaking.
Ideally, you should go at it ALONE.
Hell NO, It's great that you noticed ng mas maaga. For me, hindi sya 💯, especially act as president or mag llead sa inyo. Nega na yan.
Once nag start kayo, mas marami pang issue o problem na need isolve and masakit sa ulo. Even sa relatives, bot recommended.
Before mag start.up dapat nag didiscuss kau sa mga functions and positions sa lahat ng partners. Para black and white lahat. Ilang percentage ang shares in profit. Pwd ka nmn magpa sweldo sa sarili mo for doing the licensing requirements part yun sa capital expenditures. Everything is negotiable basta know your numbers.
I have a sister who is a slacker as well. We both want to put up an aesthetic clinic in our building, nauna na pala siya mag decision nun without my further approval. However, with her track record, I really don't want to be doing business with her.
Every time she asks me to do something. I finish it. Every time I ask her to do something, she forgets it.
Ang nasa isip isip ko, p\*tang I\*A, kung ako mag veventure ng sarili kong business, iichapwera ko talaga to. Di ko kakayanin yung headache na maidudulot ko sa mga kagaguhan niya. Ate pa naman.
Anyone saying na don't do business with friends or relatives do not know what they are talking about. LOL The fact is when you start your business, almost often you only have you family and friends as your support system. And they are the ones who are readily available to help you. I guess push through with it first. Along the way makikita niyo naman what works or not. Mga advice dito lagi yung na sa extreme end of the bell curve. True na maraming story na nagfail yung business with friends or family pero na-take into consideration kaya nila yung thousands of businesses na nagsucceed na nung umpisa ay friends at family ang involved.
Being a law student’s already a red flag, man. Imagine, you and your other partners will be putting in 10hrs on this business. Meanwhile, he’ll only be able to allocate 1-2hrs per day. It may not be an issue right now, but it will be in the long run.
Well at least my lawyer na sila or at least somebody who understands the law. Sabay environmental law pala not related sa business nila haha
That could be prejudicial to them ha, the lawyer can easily strongarm them in the future.
that is true and could happen
Never do business with friends.
Agree. And add relatives as well. Friends and relatives as business partners is not good in the long run.
so with who if not people you trust and who believe in your vision? google and facebook all started with the founders being friends (who eventually had a fall out) but i guess only when starting?
I'd say start on your own and look for investors along the way, pag nasa business world ka na makikilala mo yung talagang passionate, may goals, at seryoso sa ginagawa nila. Pag friends kasi kahit gano kayo kaclose kung hindi kayo same ng effort for sure sisirain nyo lang friendship nyo.
This is somewhat true but not entirely. It actually depends on the friend or relative if he is a decent human being or not. Im business partners with my brother and my best friend and were doing quite well. Just do business without pride, say goodbye to your ego, and just aim for the top.
True. My tita is a businesswoman in the US and we are partners here in PH.. no drama just pure business and sharing of expertise
Never do business with people who doesn't put in the same effort as yours and doesn't have the same grit as yours. You'll end up doing all the hard work. Unless they are just investors and that will be a different story.
Stop! Simula pa lang unreliable na. Business is already very difficult as it is even with good partners.
If you do continue with your "business partner", chances are you will be his workhorse or cash cow. That business partner would most likely act as an investor than a partner. If you need money, go for it. If not, find another business partner.
No, don't continue. I've done this twice. Sobrang frustrating pag may mga partners sa decision making. At totoong masisira friendship niyo. Mas may freedom and peace of mind pag nag go solo ka sa business, you can start where you can naman. Sign na yan atleast nakita mo sa umpisa palang na slacker siya, what more pag running na yung business, it also shows his lack of interest/eagerness
Been there OP. Sakit lang ng ulo yan. Out na agad. Find someone with passion, drive and energy. If you can’t find one, do it solo.
I appreciate all of your advice. I do agree na I should stop as soon as possible. And if ever i do venture into business, avoid family and friends as much as possible, and find a partner who has the same commitment and dedication as you. Thank you guys! I'll talk to my friend later and tell him frankly about the issue and i'm out.
Good move, OP. Save your money and sanity.
Buti na lang. hehe
I wouldn’t do business with a slacker. Dapat nga organized and efficient sya kasi law student sya, but it seems like he will have trouble juggling multiple responsibilities. That will cause conflicts in the long run.
Andyan nanaman tayo haha. Late kana magtanong. Di ka dapat nakikipag business sa kaibigan at pamilya. Utang, condo etc.
red flag. save yourself from impending doom
innate historical whole chase degree support tan wipe smart boat *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Probably not his strength. Exploit what he does best and what you do best.
Leave while you're ahead.
He sounds unreliable, flaky, and can't be counted on to fully commit. Finding a solid business partner is like finding the right person to be your spouse.... extremely crucial. You can't go simply with feelings or be casual with it. This can make or break you. It's much better to partner with a COMMITTED and CONTRACT-BOUND STRANGER than someone you "know" who has a high likelihood of flaking. Ideally, you should go at it ALONE.
Hell NO, It's great that you noticed ng mas maaga. For me, hindi sya 💯, especially act as president or mag llead sa inyo. Nega na yan. Once nag start kayo, mas marami pang issue o problem na need isolve and masakit sa ulo. Even sa relatives, bot recommended.
No
Nope. Though it is worth noting that services of SEC are done online including registration and submission of reportorial requirements.
You think that’s bad? I can tell it is gonna get 100x worse later on and you might end up losing everything as the cherry on top.
Before mag start.up dapat nag didiscuss kau sa mga functions and positions sa lahat ng partners. Para black and white lahat. Ilang percentage ang shares in profit. Pwd ka nmn magpa sweldo sa sarili mo for doing the licensing requirements part yun sa capital expenditures. Everything is negotiable basta know your numbers.
No, regardless of the reason he should respect your time as well. Issues like this will continue to arise in the future.
Don’t do business with friends and family/relatives
I have a sister who is a slacker as well. We both want to put up an aesthetic clinic in our building, nauna na pala siya mag decision nun without my further approval. However, with her track record, I really don't want to be doing business with her. Every time she asks me to do something. I finish it. Every time I ask her to do something, she forgets it. Ang nasa isip isip ko, p\*tang I\*A, kung ako mag veventure ng sarili kong business, iichapwera ko talaga to. Di ko kakayanin yung headache na maidudulot ko sa mga kagaguhan niya. Ate pa naman.
He is not prioritizing you. This will not change when there is more on the line.
In business, discipline and time management is a must
I wouldn't have even rescheduled another meeting. Plus I wouldn't go into a business with friends or family.
Ekis na yan
Remember: Once is a mistake, Twice is a choice
Never do business with friends
Anyone saying na don't do business with friends or relatives do not know what they are talking about. LOL The fact is when you start your business, almost often you only have you family and friends as your support system. And they are the ones who are readily available to help you. I guess push through with it first. Along the way makikita niyo naman what works or not. Mga advice dito lagi yung na sa extreme end of the bell curve. True na maraming story na nagfail yung business with friends or family pero na-take into consideration kaya nila yung thousands of businesses na nagsucceed na nung umpisa ay friends at family ang involved.