Contribution vs. Capability

[NGunderman]

So I'm looking into starting a home business. I've got a few ideas floating around, but I haven't pegged one yet. I plan to research them all and decide on what I want more vs. how difficult/likely it will be to start/maintain.

The thing is I've got a friend who would like to help out, doing designs and what not. She already has a job, but would love doing something in design part time. She understands and only wants to be an employee.

There's another friend who I've talked to about it who wants to help out with production. Awesome, design and production? Good start. But I'm not sure this individual is ready to run/compose a business. I know he's not. But if he's going to be involved he's going to want to be co-owner. How do I break it to him? Should I give him a "probationary" period? He's a hard worker, and he's good at what he does. But I'm not sure if he's leadership ready.

Thanks guys,
Nora

[anuragsharma]

1. First of all make sure that the people you are partnering up with are going to compliment your skills. There is no point having someone who can only do what you can do. You would want to have people who will help you out in things that you can't do.

2. I feel that you have the #1 sorted out. Now coming to your friend who wants to be a co-owner, well you can partner up Technical partner and management partner. If you feel he hasn't got the business acumen but can give out put and keep the production line running then there is no harm in making him a Technical partner. You become the Managing partner where you will look after the business growth. Also, draw the lines. You should be clear what you are supposed to deliver every month and he knows that he has to deliver. I don't want to talk about failing right now but he should know that if he fails to deliver he should relinquish his position. Moreover be professional. Keep friendships aside and work like business partners. Things work out when they are kept and running in professional way.

All the best !!!