Business Partnership Advice

[marcelocarson]

We are 3-partners company already started a year ago. We all have full time job and are working in part time to build our business idea. It is a web project and we outsource the design and development work to India. The project idea is great, but since we are working in part time, the progress is pretty slow, not only the development side, but also the marketing, the decision making, the business planning, etc. Recently, we also find that the budget is almost close to our limit. I know there are some missing pieces which needs to be completed before launch, but we have some argument about our working capital. With that in mind,

1. Should we launch our project no matter what?
2. Should we give up our idea since we don't have time to work on?
3. What other alternatives do we have?

Your advice is much appreciate. Thank you.

Regards,
Marcelo

[ikjosh]

You need to clearly define everyone's roles and what is expected of each person.

I assume you've got everything in writing?

How is compensation setup for each individual?

[snowswap]

1. DO NOT launch the project until it is complete and meets your standards. This will save valuable time later on. Make sure you get it right the first time and then you can always make minor adjustments. I can speak from personal experience on this one.

2. DO NOT give up. If you think you idea has potential, figure out a way to make it work. As long as there is still are market for your idea and it is marketed right, people will come, and you should continue.

3. The first thing you should do is come to an agreement about how much you want to continue to invest in the project. Without doing this, it will never succeed.

If you need any more help please let me know!