In the previous entrepreneurship quiz, here is my answer:
1. Though the partner wants all the capital back, I have to suggest another way. Re-briefing about the venture or a new deal maybe. As long as he will retreat his intention to cancel the partnership. If it happen, I may lost my cash which will make the project suffers.
2. If the partner still want his money back, well, I have to protect the business. A promise is a promise. It is stated in Quran. It is stated in the Partnership Act. This is the contractual agreement which both parties must agree. One who breach the promise shall bear the cost. Business is not the place for quick money. He - even he is my best buddy - must learn a lesson too. I don’t care.
3. After I have settled my problem with the partner, I have to re-access the project. New partner or capital or the worst situation, wind up the company? Then I will find a new investor / partner or apply a grant / loan from government institution.
The Result
I’ve chosen this comment as the best answer.
The reason I chose this comment because he stated how to confront / deal with the partner in clear words. As has been stated previously, a good business need a good leadership, a good leader is the one who can make a decision, a process to make a decision is not an easy process. Many people think that they have made a decision, but they haven’t.
The answer shows 3 clear decisions.
Remember too, business is tough because we need to deal with human. Human is an emotional creature.
Congratulations to the winner - Bai - and also to all participants.
24 June 2007
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