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"Focus, caring, support and action. These important concepts come to mind after working with Ann. When I came to her, I tended to be 'all over the map' and was greatly in need of coaching. Ann gently, yet firmly, helped bring the focus back into my journey. She supported my choices with a depth of caring, yet maintained an objectivity, that allowed me to experience the results of those choices in a non-judgmental atmosphere.

At some point, though, action is key. Today, whenever I get 'stuck', I ask myself the invaluable question that Ann posed to me so many times when I thought I didn't know the answer or what to do — 'what is one thing you can do in the next week to move closer to your goal?' Focusing on one thing at a time with caring and support allows the journey to unfold with grace and ease.

I am so grateful to have benefited from Ann's expertise and insight."
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Moving Individuals and Organizations to Excellence

CONSIDERATIONS FOR ENTERING A BUSINESS PARTNERSHIP

By Ann Vanino

If you are considering an opportunity to enter an existing business partnership or forming a new one, here are some things to think about as you make your decision.

Ownership

What ownership percentage do you want? Ownership share is highly significant to your status in the organization, financial prospects, and role in decision making.
What are your liabilities as an owner of this company? What insurance do you need? Will you be listed on the various insurance policies? Do they plan to or have appropriate insurance to protect you as an owner?
How is the company structured? Is it a Subchapter S corporation, partnership, or C corporation? Review the set up papers and by laws. Will you be an officer? Is there a Board of Directors? Who is on it? Will you be? In what title and capacity?
Do you have to buy your ownership share or otherwise pay into the company? What are your ongoing financial responsibilities?
What is expected of you as a partner or owner?

Financial

Will you be paid a salary? How is your compensation determined? Is there provision for bonuses or profit distribution? How is profit determined?
Does the company provide benefits?
What expenses does the company cover for owners?

Role in Company

What is your title? What are your responsibilities?
What kind of decisions will you participate in? What financial and other information will be shared with you and how often?

Marketing/Sales/Business Development

What is your role in these areas? Will you be responsible for a specific amount of marketing, sales, or business development? Will you be compensated for this? By what formula?
For existing companies, what is the marketing, sales, and business development plan? What base of business do they have now? What do they project for the future?

Long Range View

What is the vision for the company? How long do they plan to be in business?
What is your role in helping the company grow?
What happens when an owner leaves (you or someone else)?

Ann Vanino is a personal coach, trainer and writer who specializes in helping people find fulfillment in their work lives. She has over 20 years experience in the business world, in the public and private sectors and as an entrepreneur. Ann’s book, Leadership on Trial: Lessons from The Apprentice offers readers seven leadership lessons from the popular Reality TV show. Her new e-book, Power Stories includes mythical stories of personal power at work. You can learn more about Ann and her work at www.MovingForward.net. Ann can be reached at Ann@MovingForward.net or 661-944-6329.

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