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the the is offline
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Join Date: Oct 2006
Location: Colorado, USA
Posts: 8,279
Have you ever been screwed by your biz partner? Tell your story here.

And no, I'm not talking about the good kind!

No real point here, just venting, would like to hear some of your experiences.

My story is pretty basic. We've worked together on this particular business for 6 or 7 years. During that time, it has been very profitable and enjoyable for both of us (in this instance, more profitable for him than me, but he also has more responsibility, so he deserves it).

Also, we've been friends for 10 years. Gone on family trips together, birthday parties, etc. etc. Not like "best best" friends, but I still consider him and his family as good friends.

During the course of the business, contacts are made, and opportunities outside the scope of our business are presented from time to time (things like investment opportunities). These contacts and opps, which are the result of both of our efforts in the business, are agreed to be joint opportunities. This is not a formal agreement, or part of the written agreement between us, but is one that is discussed many, many times over the years.

Then one comes along that is a very promising opp. It comes to him, without me there. He keeps it secret from me, while "working it up." The amount of work, telephone calls, documents is fairly significant, and within a week or so, I catch wind of it. I don't say anything, because I figure why should I? And, I don't really believe in trying to force friends or partners to do the right thing. Plus, maybe he'll disclose it once it gets past the preliminary stage.

So this goes on for a several months. Activity picks up as the closing nears. While it's a little hard to think that he believes I don't know about it, apparently he does, he still keeps it a secret and says nothing. It is set to close next week, and he has said nothing to me (although he has told others in the office, including some staff people).

It was a bit hard for me to understand what was happening, or what his intent was, but piecing it together, it seems clear to me that he viewed the opportunity as worth more than our 10 year friendship and 6+ year business relationship (during which we have been through a ton together). Or he at least viewed the opp as worth seriously threatening our relationship.

The kind of irony (although I'm finding that it is not particularly ironic) is that he is the deeply religious one. Church every Sunday, Bible study groups, and he'll tell you time and time again how important integrity, "values" and relationships are. I generally don't feel the need to make those kinds of statements, but let my actions speak for themselves.

His secret deal is set to close next week. My strong guess is that he'll never mention it to me.

I'm not sure what is going to happen, but my guess is that the relationship is destroyed and will be over within 6 months. Oddly, I don't really feel mad (most of the time), it's mostly disappointment. I don't usually put a lot of faith in people outside the family, and he was one that I did put a lot of faith and trust in. And it seemed to be justified, for a long time. Just sad to see that have to end over a few dollars.

Ever happen to you?
Old 02-08-2008, 11:52 PM
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