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My business partner keeps missing deadlines, how can I address this without coming off harsh?

I'm the founder and I plan on giving him a small percentage in my company after we get funded(vesting) as well as salary,currently he's not getting anything and I only asked him to do small things like give me data about the market for our presentations. He brings alot to the table so I dont want to criticize him. I just want him to be aware that he is not being fair to me. Im in my 20's and he's considerably older and has a family.

40 Replies

Jerome Peloquin
2
0
Jerome Peloquin Entrepreneur • Advisor
President, Family Fish Farms Network, Inc.
Two things ... Lack of dependable reliance is a fatal flaw and is often a symptom of a deeper problem. One way to address this is to have some consequences for failure to perform ...this may seem silly but it is essential here. If there are no consequences then there is no real in centive for him to change his behavior. Clearly the stock you offer is not such an incentive. Try setting a fine of reduced reward ... otherwise I would cease relying upon him and find someone else, now before he really screws things up later. Jerome Peloquin President The Family Fish Farms Network, Inc. 717 Lawrence Street, NE Washington, DC, 20017 cell: (410) 227-0498 (Skype) fishfarms1 LinkedIn Profile email: [removed to protect privacy] website: www.thefamilyfishfarmsnetwork.com We grow healthy local food ... save fresh clean water ... create decent paying jobs.
Kirill Pertsev
2
0
Kirill Pertsev Entrepreneur
Director Cloud Operations at EIS Group Ltd
Tie his compensation and equity to the performance. Do not promise him X%, promise him a specific vesting schedule which includes some measurable milestones. If it doesn't incentivise him you do not have a healthy relationship.
Joe Albano, PhD
0
0
Joe Albano, PhD Advisor
Using the business of entrepreneurialism to turn ideas into products and products into sustainable businesses.
You have some tough decisions and actions ahead of you. Creating clarity and driving performance are critical successfactors for founders. Here are a few items to consider:
  • Make the consequences to the business clear. There are things that need to get done on a schedule. If they are not done by your partner, you need to get someone else to do them. The cost of having others do those things should come out of your partners share.

  • Set clear and mutual expectations about performance, schedules, and results. Make sure what he wants out of the business is compatible withwhat you want. If you can't find sufficient common ground, parting ways may be best for both of you.

  • Consider performance-based vesting for any equity.
Mike Robinson
6
0
Mike Robinson Entrepreneur
Chief Commercial Officer at VideoEngager
Joe, another possible perspective - the promise of "a small percentage of your company when and if you get funded" just might not be enough motivation for someone with lots of experience and a family to worry about. Have a frank discussion about whether this person is truly excited to be involved on the terms you are offering.
Ema Chuku
7
0
Ema Chuku Entrepreneur
Designer. Product Developer. Founder @ NuPad
You have not given him equity or some sort of compensation yet you expect timely commitment from him? You mentioned he has a family. This is not complicated, have a sit-down talk on expectation, commitment, and equity split. Then you will have something worth vexing about. Until then, you shouldn't expect more than you have offered. Right now it seems like your the company operations is on "here say".

And this has nothing to do with age, etc.
And one thing you should understand you both are on different life responsibilities. Until you have a set business or company, the venture is not going to be his top priority.



Irwin Stein
2
1
Irwin Stein Advisor
Very experienced (40 years) corporate,securities and real estate attorney.
You have a problem that is of your making not his. You want this person to work for you but you don't want to pay him. Our business world is based upon employees getting paid for their work. Like a lot of entrepreneurs you see it as a problem when someone who you do not pay does not perform. You say that he is not being fair to you when in reality you are not being fair to him. If you believe in what you are doing then o all in. Take a credit line against your home; get a "no interest for a year" credit card (or two or three). You are asking this person to take a risk on your business. Take the risk yourself, first, and just pay him. I suspect that it will resolve the question of his being late.
Jerome Peloquin
2
2
Jerome Peloquin Entrepreneur • Advisor
President, Family Fish Farms Network, Inc.
Irwin ... money is not the issue here, of course people want to be paid and so does the writer. It is a problem of personal committment. This is a common problem in volunteer orgainization where people are not paid ... it is why 90% of them fail ... If someone does not perform as "they,' agreed, then find someone else, as hard as that may seem ... it may be a problem but it is better than depending upon someone and not having them deliver. One cannot tolerate that behavior as a pattern. You cannot allow people to promise to do something and then not do it and continue as if nothihg has happened. If I commit to do something and know that cash payment is NOT part of the agreement then, don't do it because I am not being paid that is not acceptable behaior and cannot, as a regular habit be tolerated. Jerome Peloquin President The Family Fish Farms Network, Inc. 717 Lawrence Street, NE Washington, DC, 20017 cell: (410) 227-0498 (Skype) fishfarms1 LinkedIn Profile email: [removed to protect privacy] website: www.thefamilyfishfarmsnetwork.com We grow healthy local food ... save fresh clean water ... create decent paying jobs.
Jerome Peloquin
0
2
Jerome Peloquin Entrepreneur • Advisor
President, Family Fish Farms Network, Inc.
While what you say is true ... it is still a matter of personal commitment. If I say I am going to do something no matter the compensaytion of lack of it. One has a responsibility to either do it or tell someone that you cannot do it ... as Yoda says, "...do or not do." If I agree and then do not perform, no matter the circumstances it is a personal problem. j Jerome Peloquin President The Family Fish Farms Network, Inc. 717 Lawrence Street, NE Washington, DC, 20017 cell: (410) 227-0498 (Skype) fishfarms1 LinkedIn Profile email: [removed to protect privacy] website: www.thefamilyfishfarmsnetwork.com We grow healthy local food ... save fresh clean water ... create decent paying jobs.
Barney Kramer
0
0
Barney Kramer Entrepreneur • Advisor
Business Advisor, Executive, Trainer & Coach, Public Speaker,
Set clear expectations, responsibilities and objectives between the two of you. If you can't work it out now, you have the wrong partner! *What a program.* Anyone wanting to take their leadership to the next level really needs to check this out. It is great!!!!! It's an interactive, multi-media life-changing experience designed exclusively to forever change the way you SEE and GROW your career and businesses. Check it out here: http://smra1.com/seminars/new-leadership-paradigm *"Moving From Where You Are to Where You Want to Be Starts Here"* *S**incerely,* *Barney Kramer, President/CEO* *(209) 444-6549 phone* *www.smra1.com *
Jerome Peloquin
0
0
Jerome Peloquin Entrepreneur • Advisor
President, Family Fish Farms Network, Inc.
Good pitch Barney ...! jj Jerome Peloquin President The Family Fish Farms Network, Inc. 717 Lawrence Street, NE Washington, DC, 20017 cell: (410) 227-0498 (Skype) fishfarms1 LinkedIn Profile email: [removed to protect privacy] website: www.thefamilyfishfarmsnetwork.com We grow healthy local food ... save fresh clean water ... create decent paying jobs.
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