# Why is a PARTNERSHIP the WORST BIZ STRUCTURE? Hint: Its like a M



## Dude007 (Jun 22, 2015)

WAY TOO MUCH DAMN RISK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Sound familiar? DUDE


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## EnigmaGirl (Feb 7, 2015)

lol.

Funny enough my husband and I are going into business together starting next year when we start early retirement.

We've been working on SBIR projects and have two in so far which has required us to work every weekend for the past 8 weeks or so. The first Saturday, we woke up at 8:30, had breakfast & workout and started working about 10:30. It was a fun, great day. We worked all day...talking...laughing...had a meal while working and when I turned around, it was 11:30pm and I barely noticed the time pass.

We have a big consulting project coming up in early February after my husband retires and I have to say I'm really looking forward to it. I think we're going to make a crazy hell of a lot of money and I think we're going to have a whole lot of fun doing it. Its bizarre how well our lifelong earned skill sets compliment each other.

I've always felt good about working but never really enjoyed work in this way...where it feels like I'm having fun and the time isn't passing and its just easy. I also love to travel with my husband and I think business travel isn't going to be the chore that it usually is. I think its going to be a blast.

Bottom line, good partnerships....like good marriages...are all about the compatibility of the people in it. If you pick a partner who you're not in tandem with as far as shared values and vision...its just not going to work out and you need to get a "divorce."


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## Dude007 (Jun 22, 2015)

enigmagirl said:


> lol.
> 
> Funny enough my husband and i are going into business together starting next year when we start early retirement.
> 
> ...


please tell me you are setting up an llc if you haven"t already...do not do this as a partnership...dude


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## thebirdman (Apr 5, 2014)

LLP's drop some of the corporate identity that LLC's have. There are advantages to them but they do not apply to most businesses and do not apply to non-service businesses at all. It is better for the government to see you as an organization than a group of individuals.


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## Dude007 (Jun 22, 2015)

thebirdman said:


> LLP's drop some of the corporate identity that LLC's have. There are advantages to them but they do not apply to most businesses and do not apply to non-service businesses at all. It is better for the government to see you as an organization than a group of individuals.


Agreed, but hey we aren't all biz structure experts. HA DUDE


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## EnigmaGirl (Feb 7, 2015)

I'm majority owner of our LLC (black female...so minority, female owned company helps a lot with the business we're targeting).

And it wouldn't matter for us anyway. I'm his wife so implicitly own half of the business.

I actually know some other very successful husband/wife business owners. I actually think the dynamics can work very well with compatible partners. 

We've worked on other limited projects before but couldn't do a lot because we both work for corporations and have limits due to confidentiality agreements but after we retire, the gloves come off and we can do what we want. I can't wait and neither can he. We talk every day about our goals and dreams and we're totally in sync.

I know you're cynical but it really can be successful. I'll let you know how it goes to prove it.


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## Dude007 (Jun 22, 2015)

EnigmaGirl said:


> I'm majority owner of our LLC (black female...so minority, female owned company helps a lot with the business we're targeting).
> 
> And it wouldn't matter for us anyway. I'm his wife so implicitly own half of the business.
> 
> ...


Cynical of what? My wife and I are great business partners. We just lack in other areas and have little else in common.


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## EnigmaGirl (Feb 7, 2015)

> Cynical of what? My wife and I are great business partners.


lol, good. So your point in the thread was what exactly?


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## Dude007 (Jun 22, 2015)

EnigmaGirl said:


> lol, good. So your point in the thread was what exactly?


The point is you created a LLC for multiple reasons versus a general partnership. THAT IS THE POINT...Everything is spelled out in an LLC with rules and such rather that open ended like a general partnership(Marriage). Please tell me you can understand this concept? DUDE


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## FlaGirl (Nov 10, 2015)

Dude007 said:


> WAY TOO MUCH DAMN RISK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Sound familiar? DUDE


We had 2 businesses together. 1 sold, broke even, the other bankrupted us. We actually worked o.k. together but I dont recommend it


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## FlaGirl (Nov 10, 2015)

I also agree with EnigmaGirl that if you are in a great relationship and on the same page,and are highly compatible, it can be a wonderful and sucessful thing, just like if you're not in a great relationship , not on the same page, it can be an awful "marriage", as DUDE is trying to sya, i think


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