Post: #1

I personally don't do any business with 3 type of people:

1- People with criminal records
2- People with any kind of addiction
3- Women

But there's a potential business that I can start and I need the skills of a particular woman to make it happen. I've already banged her and guess this could make things complicated.

Any idea?

Post: #2

(02-02-2017 03:53 AM)IronShark Wrote:  I personally don't do any business with 3 type of people:

1- People with criminal records
2- People with any kind of addiction
3- Women

But there's a potential business that I can start and I need the skills of a particular woman to make it happen. I've already banged her and guess this could make things complicated.

Any idea?

No, not because she's a woman but because you slept with her already!

What skills does she have that can't be replaced?

Post: #3

She has the source to provide products way below the market rate.

(02-02-2017 04:05 AM)The Beast1 Wrote:  

(02-02-2017 03:53 AM)IronShark Wrote:  I personally don't do any business with 3 type of people:

1- People with criminal records
2- People with any kind of addiction
3- Women

But there's a potential business that I can start and I need the skills of a particular woman to make it happen. I've already banged her and guess this could make things complicated.

Any idea?

No, not because she's a woman but because you slept with her already!

What skills does she have that can't be replaced?

Post: #4

Just my 2c: one the of the business I was briefly in to help them start up had a woman as one of the founders. They are on a very different thinking level when talking/discussing strategy, planning, business development etc.. So much as to holding up/delaying important things compared to the men in that specific business who could make decisions much more easily. The less 'human side/aspect' is needed, the worse they are.

Post: #5

Give her a salary and "some" equity while you still have majority control. Simple.

There is no benefit gained from making this unnecessarily complicated just because she's a woman.

I work with a few women in our business that are well liked and high performers.

Post: #6

Take her as a supplier with a mark up on her products. (End price should still be below market price, of course).

You'll never know when the source runs dry. And you're in business for the long haul.

Post: #7

The only business I'd start with a woman is my wife, if she had a proven attitude for it, or if not a wife, a woman with a very proven track record of success. I've known a number of Asian women especially who make great businesswomen and know how to hustle. Most importantly, you need to see if they have the passion for the business, as men can usually grind it out, whereas I find women who enjoy their work more motivated to succeed.

Post: #8

I mean you'll pay her 26% less than you get so why not

In all seriousness however: no.

Post: #9

Good points folks. I think Salary + Equity or Salary + Commission would be a good strategy for me. But she might not accept it. The only concern I have is when we build a customer based in one or two years, then she can highjack all customers and do it herself. I'm still hesitant. I might go the hard way and ditch her before anything.

I've seen women in management positions. It might be sometimes really difficult to work with them. In my opinion, they can be in sale positions or front line of a business (obviously in high heels and short skirts). But I'm thinking that starting a business depending on a woman wouldn't end well.

Another solution would be working on specific project base. So we are not formally entering any partnership, and only work on different projects as they come. That makes me more flexible too.

Post: #10

Money is money. As long as you have equity and an operating agreement, you can punish disloyalty. The only thing you should do is get majority control (justify with putting up more capital) and have control over operating expenses. You will probably run into problems down the line, but protect yourself up front. Let her use her contacts for products at cost while you control distribution to smother potential future competition. Also, if possible, become introduced to the suppliers at some point.

I think the downsides can be controlled.

Also stack cash outside of the business to cover contingencies.

Post: #11

put her on salary and some sort of bonus to motivate her, but DO NOT make her part of company management or give her shares.

Always retain 100% control over a company you are creating.

It always ends in tears otherwise.

There is no reason to make them a shareholder/director. You can package up pay, conditions and motivations other ways.

I have learned and seen others learn this the very hard way.

Post: #12

As long as you get the business entity drafted in a way that protects you and defines all ownership, corporate officers, etc. I don't see a problem with giving it a try. She's got the supply of what you want and without that, it sounds like a showstopper.

Just make sure there's nothing stopping you from using another supplier in the event you find a better/cheaper one or her well runs dry. Run with the business so long as you're satisfied with the direction and when you no longer are, sell out or dissolve the entity.

That said, I recall another observation from this board (I can't recall who wrote it) that went like this:

"..as a carousel rider gets older, she actually starts to get picky about who she wants as a husband, not realizing that instead of raising her price, she ought to be lowering it as her market value has been depreciating. No wonder women tend to make such terrible CEOs."

Post: #13

As noted by others, no don't start the business with her.

Take her on a a supplier, or pay salary + commission. Plan for an exit scenario that involves her getting bitchy, unreasonable, stealing customers or embezzling money. They you'll be prepared for when it does happen. If she's a woman, she'll get jealous and greedy when success hits or blame you when things start to fail.

I would propose the same things for starting a business with a man actually.

Post: #14

A successful entrepreneur once told me: "Never do serious business with friends or family."

You need to be able to deal with partners as objectively as possible.

Post: #15

Supplier route. Make her part of your supply chain and give her a 8℅ premium over cost.

Invoices are net 30.

Unless someone, especially a chick, has demonstrable results, you want to keep it segregated and separate.

Post: #16

Been there, done that.
My advice: Do not give her Equity, Shares, Partnership, Employee Status or even a Title.

Talk with a lawyer, get some paperwork written up and have her paid on Commission as some type of 3rd party contractor.

This is Business, if you even have a somewhat odd gut feeling then you know it is a bad move.
The fact that there is even a thread asking the question shows you have doubt - meaning subconsciously you know this is a bad play that will not end well.

Post: #17

I would of said yes until I read you banged her.

Sounds like a recipe for disaster.

I got into business with a friend who had a criminal record, it was a dumb mistake on my part.

Post: #18

The only reason why to reject is because you banged her.

As for doing business with women, it isn't always a bad idea. Men tend to have far more grandiose ideas to do when it comes with business. Women tend to think in small ways. I noticed that when I was working for a women who owned her business. Most of my work experience has been working for small businesses. I would say she ran her business the best compared to others who were all men. One went bankrupt, the other is floundering around (and is in competition with a restaurant with the same type of products), and the third just lets it take care of itself(meaning little management is required for what he does. People just show up and some how things are taken care of for him. If he ever does anything, it usually just screws shit up and costs him additional money.).

You would even think that a business focused on power tools and manual tools would place a woman at a disadvantage. It hasn't. There are certain soft touches women can add that most men really don't understand. If you don't believe me, consider that women don't play number games to get laid or attract men. Men have to approach before they can get laid. They put on makeup and wear clothing to attract men.

Keep in mind when tend to think of women in the work place, we tend to think of career women who we tend to pump and dump. Women who have their own businesses tend to be a different out of necessity. If you don't believe me, you could always listen to Kevin O'leary.

Post: #19

The simple answer is no.

I started a business with a woman who also happened to be my common law at the time. Relationship ended a few years into the joint venture. I have very few regrets in life but this would be one of them. The reasons are too numerous to list and get into details but based on personal experience and that of quite a few associates who were in similar situations; the answer is a firm no. There are always alternatives.

Running a business is hard enough as is. Women think and operate on a fundamentally different wavelength than you and I.

Post: #20

In my experience of seeing successful businesses where there was a male partner and a female partner, the male partner was the "big ideas" person, and the female partner was more the "implementer". Women are often good at petty, redundant tasks like following up phone calls, sending emails and making sure that books are balanced. A lot of them love that kind of stuff. One of my best office managers ever was a woman who was always on top of follow-up. The most important thing to look for in a partner besides a clear definition of roles, is that they have some type of proof of being successful in the past. If you're bringing someone on board at the ownership level, you have to make sure they can bring the goods to the table, male or female.

Post: #21

I find it incredible that she alone has access to below market suppliers check out Alibaba they have 100 competitors for every product known to mankind trick is to sort the manufacturers from glorified distributors which requires face to face mtgs in communist Red China.

Nice thing about doing biz with a woman you are you are banging... the moment she holds back in the bedroom in any way is the moment she plans to betray you so less equity you give up the better and only wife her up after she's proves herself trustworthy by helping you put away your first $10 Million.

Post: #22

There's a reason we have the expression "Go with your gut".

Your hesitation today portends regret tomorrow.