Selfishness is GOOD, but you must know how to use it

[STR8UP]

Make your bet. People can accept/refuse and that is out of your control. But you never know...

Sometimes it's tough to tell what the other party's motivations are. Most of the time if they agree to something it is going to be the right thing for them, at least at that moment.

Lets say a person cant make the payments on their house and it will be taken in foreclosure the next day. The house is worth $100k, but they only owe $50K. You come along and offer to buy the house for $50k and it ends up saving them from having a judgment placed against them by the bank. You won and they won. This is an oversimplified and unlikely example, but it happens, and it isn't taking advantage of the other party

 

[Oxide]

It means that as soon as you introduce money in the equation, everything changes.

Couldn't be more true!!!

This is what needs to be drilled over and over in business.. but my question is:

WHERE IS THE POST THAT EXPLAINS HOW TO FIND AND KEEP GOOD BUSINESS PARTNERS?!!!

Everyone wants to find one, choose their friends, and as soon as the money comes- it is like dealing with another whole person!

 

[djbr]

Sometimes it's tough to tell what the other party's motivations are. Most of the time if they agree to something it is going to be the right thing for them, at least at that moment.

We mostly regret financials decisions LATER, thinking that we could have done better. But we surely made the best thing we could the time we made it. Well, that or you learn from your mistakes and try not to repeat them again!

Lets say a person cant make the payments on their house and it will be taken in foreclosure the next day. The house is worth $100k, but they only owe $50K. You come along and offer to buy the house for $50k and it ends up saving them from having a judgment placed against them by the bank. You won and they won. This is an oversimplified and unlikely example, but it happens, and it isn't taking advantage of the other party

As soon as no one is being FORCED to do anything (like a gun in the head, some serious emotional blackmail), everyone is doing it because it serves a purpose. And 99% of the cases, you have no access to WTF is motivating the person, so you take what you get, and that is the actions.

Amazing posts STR8UP, all around on this thread

 

[STR8UP]

WHERE IS THE POST THAT EXPLAINS HOW TO FIND AND KEEP GOOD BUSINESS PARTNERS?!!!

Everyone wants to find one, choose their friends, and as soon as the money comes- it is like dealing with another whole person!

I got lucky in that I have known my main business partner for about 20 years now, and it's worked out pretty well since we both bring different things to the table and we both realize the value of a long term payoff and working toward that goal even if it means sacrificing in the short term.

Man, I don't even know if I COULD write a post about how to find a good business partner....there are too many variables and a lot of them have more to do with compatibility than anything. In other words, a good partner for me might not be a good partner for you and vice versa.

I will say one thing though. Make SURE you watch for signs of integrity (or lack thereof) cause if you are dealing with a person who has a high potential to screw you things are doomed from the start.

As I get older and wiser (meaning I've been screwed from about every imaginable angle) I would like to think that I have a much better capacity to recognize traits in a person that could ultimately save me a LOT of grief. Matter of fact, my biz partner and I both recognized those traits in the person that caused me to write this post. Doesn't necessarily stop me from dealing with these kinds of people but now I can go into it with the upper hand and thats all that matters.

 

[Oxide]

Well there is your starting point, what are those traits? You know, there is a huge market out there for a book that would describe how to find a business partner that is right for you and what to look for - like a dating book for business basically.

So far the factors that matter that i've noticed are:

1. long distance
2. different financial backgrounds
3. someone is floating him money (not his own money)
4. taking time to think about "the next step" - 99% of the time means people turn lazy and everything goes to ****.
5. work starts, how motivated are they are to continue?
6. imbalance in work. suddenly one person feels like he is doing much more.

you can attack those.. i mean dude i bet everyone who ever thought about business is looking out for this thread.

 

[STR8UP]

Well there is your starting point, what are those traits? You know, there is a huge market out there for a book that would describe how to find a business partner that is right for you and what to look for - like a dating book for business basically.

So far the factors that matter that i've noticed are:

1. long distance
2. different financial backgrounds
3. someone is floating him money (not his own money)
4. taking time to think about "the next step" - 99% of the time means people turn lazy and everything goes to ****.
5. work starts, how motivated are they are to continue?
6. imbalance in work. suddenly one person feels like he is doing much more.

you can attack those.. i mean dude i bet everyone who ever thought about business is looking out for this thread.

Ask and ye shall receive..... (sometimes)