Another Moral Dilemma

starbelgrade

If you had a friend who had a good business idea, planned to start it up, but for one reason or another hasn't done it yet & seems to be procrastinating & you are unsure if he/ she will follow through anytime soon.

If this business idea was a no-brainer & you could get it going tomorrow.

If it was potentially quite lucrative & the friendship was not that long formed or strong bonding (even though it could well be over time), would you basically hijack the idea to make what could well be a nice little nest egg for many years to come?

minidazzler

Eh, well, everyone has a plan to be the man. But if they don't put it into practise and it is as you say...simple to do, then screw them Especially since they aren't really that good of a friend. They shouldn't be stupid enough to tell everyone about it.

Star, how much do you want me to invest?

liah

Probably would ask the dude permission first, or at least ask him if he wanted to follow through via a partnership.

If he still denied it but hadn't patented the idea or laid claim in any way, then fück it, it's a recession and if there's money to be made it might as well be.

starbelgrade

minidazzler wrote: »

Star, how much do you want me to invest?

You've already given me yr tuppence worth!

galwayrush

you'll regret it badly in the future if you don't do something about it.

Can you cut me in for the for the
good advice?;)

tony1kenobi

Pyramid.

starbelgrade

tony1kenobi wrote: »

Pyramid.

Nobody's buying them these days. Even the Greeks aren't interested.

Hank_Jones

It's their idea, the least you could do is take them on board and give them a small percentage of the company, as in you loan them the stake.

I would think that it would work well to have the person who had the original idea on board anyway, as they might come up with ways to move forward.

Biggins

Himmm good question.
If he hadn't the foresight over a period of time to take advantage of all possible prospects and chances then possibly yes, I'd go for it.

If it was solely their idea and similar hadn't been done before, I'd go to him/her and suggest a partnership without suggesting what your new ideas were.
If he/she was willing to go into partnership on the basis that you might be in the near future offer "fresh opportunities", that would be fair.
If he/she rejected you though, with the same proposal you put to them, he/she would be open to competition after that.

starbelgrade

Hank_Jones wrote: »

It's their idea, the least you could do is take them on board and give them a small percentage of the company, as in you loan them the stake.

I would think that it would work well to have the person who had the original idea on board anyway, as they might come up with ways to move forward.

It's not really that original idea - it's basically a business model that hasn't been done here before. There's nothing to stop him from doing it anyway, or even any other competition from opening up & doing the same thing.

Thing is though - I could have this up & running in less than a month & it would pull the rug from under his feet, so to speak.

OutlawPete

Why not involve them?

It's their idea, get them on board, make millions.

Hank_Jones

Yeah, I just think you should get them on board.

It's better to have two heads as opposed to one, certainly if you are starting up.
Plus, it will lighten the work load on yourself.

Coriolanus

Go behind his back and start it up. When you make your first million, hire him to sweep the floors. :pac:

No, seriously, I'd consider taking the guy on board.

Cianos

There could be a lot of reasons you are unaware of as to why he hasn't gotten it going yet. But if I were you I'd tell him that you were thinking of looking in to the business yourself and wouldn't giving it a go especially if he's not going to do it himself. If he still hasn't gotten anything going in a couple weeks say you've been looking in to it more and that you are seriously thinking of going for it now. If he doesn't have the motivation himself to get in there before you (or at least object to you doing it yourself), given that much warning, then it's his own fault really.

raah!

I'd say leave commandeering someone else's idea as the very very last option. If you just heard about it and said "oh he/she will never do that, I'll do it instead" then that's just stealing someones idea, like a knack.

starbelgrade

The thing that's holding me back the most from just going ahead & doing it, is that I don't want to p*ss the guy off - he's a sound bloke & I'd be happy to see him do well out of it.

On top of that, I run my own business already & have a few other things I do in the music industry, so I'm well aware that business is not always just business - the human element can never be factored out of it.

I don't belive in Karma, but this might be pushing it.

OutlawPete

starbelgrade wrote: »

I don't want to p*ss the guy off - he's a sound bloke & I'd be happy to see him do well out of it.

Problem solved then, take him out for a meal and tell him the good news

Coriolanus

Well, if your plate is full, might be an idea to finance him for a share in the company. He does the work, you reap (some) of the reward, for little enough effort.
If it's a sure-fire thing, and you don't think he can muck it up irreparably that is.

Well, no such thing as sure-fire, but you know what I mean.

Biggins

There is a question you have to ask yourself before going into possible partnership with him also.
Over the long term, does he have the acumen, the long foresight to further see all possibilities?
They might have the drive to do the actual physical job but do they also have the brains to fully back it up also.
Partnership is a great opportunity for them to avail of with you and you would be a good person to offer it - but keep in mind, in the long term, could they become and stay an equal partner, keeping up their end of things or would they sooner or later be a drain/drag on the business potential?

Just a thought to consider.

Another thing.
Friendships are all great but if you do enter into an official partnership, get all duties, roles, financial responsibilities, etc signed up to and formalised.
ABC - Always Be Covered legally.

epgc3fyqirnbsx

As the saying goes 'Be kind to people on the way up, you might meet them on the way down'

And friends are friends, wouldn't screw them over

On a practical side, if you're gonna set up a LTD company, which is relatively easy, the proportion of the business owned is down to how many shares you buy, ie how much either are willing to invest.
You can then pay wages if you're gonna be the one who does he work and a finders fee to himself if its successful.

If he's too lazy, tell him you're gonna go ahead with it and make an agreement on what is to happen regarding work rate etc. Both will have to honour such agreements to receive awards then

starbelgrade

Thanks to eveyone for the replies. I've even thank buttoned the lot of ya. The general consensus seems to be the same - suggest a partnership option first. On reflection, that seems like a good idea as it covers all bases.. we both get a percentage out of the business & no friendships are lost, which is what I'd prefer, as friends are hard to come by.

And I think we'd both bring different things to the table - I'm very good at getting things up & running, practical in day to day business & have a lot of contacts in the business area. He's very good at dreaming up ideas to progress the business & is an excellent "people person", which, if you know anything about me, I am more likely to rub people up the wrong way, even when I think I'm being affable.

And if he's not up for it, I can always go it alone. A bit of competition never did anyone any harm, though I'd prefer to have a monopoly with a mate!

Cheers AH.

Hank_Jones

OutlawPete wrote: »

Problem solved then, take him out for a meal and tell him the good news

Yeah, just give him the ould ''it's not you it's me. I feel like this relationship has run it's course. ''.

Nah, you gotta take him with you.

starbelgrade

Hank_Jones wrote: »

Yeah, just give him the ould ''it's not you it's me. I feel like this relationship has run it's course. ''.

Nah, you gotta take him with you.

I could always blame the split on "musical differences".

OutlawPete

starbelgrade wrote: »

I could always blame the split on "musical differences".

The two of ya's should apply to go on Dragon's Den and get funding and exposure.

kryogen

tell me a little bit more about this business plan my friend, maybe pm me some details and i will be able to give you an informed opinion on what you should do

starbelgrade

kryogen wrote: »

tell me a little bit more about this business plan my friend, maybe pm me some details and i will be able to give you an informed opinion on what you should do

No worries - I'll lodge the business plan into your bank account as soon as you send me your details.

kryogen

starbelgrade wrote: »

No worries - I'll lodge the business plan into your bank account as soon as you send me your details.

how in fact, can you lodge a plan into my account?

no no no, its much easier to just share the info with me in a pm, i promise ill use it responsibly

we are like minded people, i also have business interests in the music industry

you know i wont screw you over!

starbelgrade

kryogen wrote: »

how in fact, can you lodge a plan into my account?

no no no, its much easier to just share the info with me in a pm, i promise ill use it responsibly

we are like minded people, i also have business interests in the music industry

you know i wont screw you over!

I would never trust a Man United fan who has publicly defended Rafa Benitez on a forum.

kryogen

starbelgrade wrote: »

I would never trust a Man United fan who has publicly defended Rafa Benitez on a forum.

Can you not understand the logic of wanting that man at the helm of that shower for a long long time?

i never want him to leave tbh, one less title rival each year

starbelgrade

kryogen wrote: »

Can you not understand the logic of wanting that man at the helm of that shower for a long long time?

i never want him to leave tbh, one less title rival each year

Nice. I like the cut of your jib!

Hank_Jones

starbelgrade wrote: »

Nice. I like the cut of your jib!

What exactly is jib anyway?

And why would you want to cut it?

Never understood that.

starbelgrade

Hank_Jones wrote: »

What exactly is jib anyway?

And why would you want to cut it?

Never understood that.

A jib is a triangular staysail which forms part of the complex arrangements of sails on a sailing boat. They way it is cut affects how well a sailing ship reacts to wind forces, so if it is cut well, it is a good jib.

I wouldn't like to cut it, but if it was pre-cut to suit the ship, I would admire it's cut.

Demosthenese

Anyone else find it difficult to believe in this climate there is such a lucrative earner out there that someone would NOT be chomping at the bit over, instead of dragging their feet. If its a friend, ask about partnership - if not, then go for it.

m5ex9oqjawdg2i

Yea, start a business that easily, go for it... lol. :rolleyes:

Dave!

What's the idea OP? I'll do it

philologos

I would say, encourage the friend to start the business and say that you will take a stake in it.

orourkeda

any guarantees that this will make money?

Biggins

starbelgrade wrote: »

...And if he's not up for it, I can always go it alone. A bit of competition never did anyone any harm, though I'd prefer to have a monopoly with a mate!

Cheers AH.

If ye do sign up to a well drawn out partnership deal, make sure that upon either side deciding to end the partnership, that the previous signed agreement also details how the division of the business would proceed, who would be entitled and get what, and how any remaining money/profits should be allocated after the division.

All the best and good luck.