Apr 14 in 💬 General discussion
Avoid Getting Burnt By Business Partners
I am watching Shark Tank right now and the thought just came to me that these guys don't just give money to people and not keep tabs on people.
I had some pretty nasty issues with someone I did business with spending almost all the money we had (80k) on her friends podcast with an average of 50 views while stonewalling real progress and I am interested if you guys know of any of the tactics that one of these sharks would use to keep the people they are investing in accountable.
I assume for starters there are contracts and quarterly reviews of how money was spent and caps on how much money can be spent without authorization from someone, but what kind of legal actions can they use to hold partners accountable? I don't expect people to do the right thing because it's the right thing to do anymore.
If a business partner were to drain the bank account doing something that provides zero value for the company is that just chalked up to stupidity or can you hold someone accountable for nuking a business which you own half of?
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Avoid Getting Burnt By Business Partners
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