Posted by Aaron Walker on Jan 15, 2021 9:00:00 AM
Stay At Home Moms, got a soft spot in my heart.
Oftentimes they are ignored and unappreciated but they only want..
1. to be seen
2. to be heard
3. to be encouraged
4. to be supported with all their decisions
5. to be loved!
It's tough being a mom!
So stand up and be the man that you should be! Love your wife! Stay-at-Home Moms my hats off to you! Keep doing what you're doing! And guys, do your share!
Topics: Accountability, Marriage, Balance, Relationships, Significance, Priorities, Tips, Commitment, Clarity, Wife, Gratitude, Decisions, Leadership, Father Figure, Guide, Advice
I have had about a dozen partnership over the years of me doing business. Don't let people stop your dreams when they tell you that partnerships don't work. That's not true! If they are carefully planned and structured. There has to be an operating agreement!
Here are some tips and things you need to consider so you can create a great partnership.
1. What is the business evaluation formula if we decide to sell? Deposit/length of time/interest rate/etc ( This should be a price that dissuades the partner to sell, not rewards him)
2. What if one partner develops a competing product? Does this negate the partnership? I suggest a length of time for a no non compete.
Who owns the product and platform if you dissolve? What happens if one partner dies?
3. Do I have first right of refusal if the other partner wants out? Will the same evaluation formula be used? Historically, you are penalized when leaving prematurely. This always encourages the partnership to remain in place. It keeps each partner from plotting an early exit. Keeps everyone honest.
4. If a cash influx is needed from the partners are you agreeing to bring your % equal to your ownership %? How much time is allotted for your contribution? What is the plan if the partner says I don’t have or do not want to contribute additional capital?
5. How will the profits/proceeds be distributed? This is a big concern. I suggest a % be distributed and a % be reinvested back into the business. Don’t establish a dollar amount, it always changes as the business grows.
6. When will profits be distributed? Monthly/Quarterly/Annually?
Your needs will always be different. A formula for distribution of profits needs to be in place regardless of your needs. Never distribute based on needs of the partner, this will cause hardship and confusion. Distribute on a schedule.
7. What is the job role/responsibilities, of each partner? Write them out.
8. What is the process if the partner falls on hard times and wants to sell? Non elected, forced ( Bankruptcy, divorce, health, etc..) Formula for evaluation/terms/first right?
9. Is there a dispute clause if you reach an impasse? Or, majority owner holds the red button? This could be a phased approach. 1. Owners decide 2. Trusted advisors decide ( predetermined) 3. Arbitration
Where will the partnership be incorporated?
10. There should be a vision/mission/core values.
You cover these big topics and your future life will be much better, I promise.
Topics: Business, Accountability, Business Coaching, Balance, Success, Significance, Priorities, Blueprint, Preparation, Discipline, Clarity, Decisions, Crossroads, Wisdom, Encouragement, Guide, RoadMap, Communication, Growth, Perseverance, Execution, Obstacles, Evaluation
Posted by Aaron Walker on Jan 11, 2021 9:00:00 AM
Are you a chameleon? Do you change your color based on your surroundings because you want to be liked by your peers, the people around you? Would you rather agree with the majority even if it's not the right thing to do? Or are you a thought leader who's not afraid to stand alone? I was told before, always be willing to stand alone if you are convicted that you're making the right decision. I don't like chameleons! I don't like people who stick their finger in the air first before making a decision.
Topics: Motivation, Accountability, Character, Relationships, Success, Significance, Priorities, Commitment, Blueprint, Integrity, Discipline, Clarity, Reputation, Burden, Decisions, Crossroads, Wisdom, Encouragement, Leadership, Advice, Authenticity, Honesty, Personality
We all have goals or at least things we want to have or do.
But do you have this one ingredient so you can get where you want to be and be successful in life?
Let me tell you what it is.
Topics: Motivation, Accountability, Character, Masterminds, Success, Significance, Priorities, Tips, Commitment, Blueprint, Preparation, Development, Crossroads, Encouragement, Guide, Determination, Perseverance, Advice, Expectation
Financially and geographically speaking, if there is no restriction, what would you do tomorrow morning? Quickly answer this question, if you can't there's a problem!
Topics: Accountability, Character, Finances, Balance, Success, Significance, Priorities, Tips, Commitment, Move Forward, Blueprint, Preparation, Discipline, Clarity, Development, Self Development, Decisions, Crossroads, Wisdom, Encouragement, Be Happy, Guide, RoadMap, Determination, Advice, Vision, Obstacles, Experience
