Business partner has no sense whatsoever ... what would you do

[LuckyTaxi]

So my buddy talks me into getting into the loan origination business for residential mortgages and commercial loans. Basically we push paper when there's a prospective client, but it seems to me that he's going about this all wrong. His marketing techniques are really off and he approaches ppl like he's desperate for clients. And most importantly, he started this company with no money whatsoever. The guy had to borrow $20 from me to fill his gas tank. Anyways, here's the dilemna.

I've shelled out roughly $500 for books, incorporation fees and advertisement. All of a sudden I have two ppl who've contacted me about our service. I basically get information and pass it on to our co-broker. We get anywhere between 1-3% and that's a lot of money since the loans we're dealing with exceed $500k. I'm actually thinking about saying f**k him and keep the money. Why? He's not a people person and he hates dealing with ppl (we work as network admins during the day) but yet he wants to solicite this service for a living?!

Oh and he acts like I don't know how to deal with ppl. "Say this and don't say that."
Hello I hate to say it but working in a corporate environment for the past five years actually groomed me into who I am now. Not saying thats a bad thing cuz I hate giant corporations anyways! Whereas he worked in a small business atmosphere and really didnt interact with people on a daily basis. It shows nowadays at our current job!


Anyways, ALL the ads have my number on there. He wouldn't know ppl have called me and if I did close a loan, he wouldnt even know I made money. I'll just break away from the company we formed and start my own w/o his knowledge. Oh and by the way, no contracts for our "partnership" has been drawn up. I was skeptical at first and I didnt trust him, but if he's going to use me for money I'll return the favor.

 

[StageLeft]

He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

 

[Savij]

Originally posted by: Skoorb
He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

Yeah, tell him about these guys then say that you're going on your own. But you're going to come off as a real jerk. You got your first clients and you're suddenly ditching him.

 

[LuckyTaxi]

Originally posted by: Skoorb
He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

Entitle to? Ok so he introduced me to the business. I spent good money on the material. He's listed as the so-called president of our company, but ppl call me to ask about our business. Hmmmmmmmmm ... if money starts rolling in, I'm rolling out. I already have a good excuse. He doesnt think I'm cut out for this because he says I lack people skill. If that's the case then why does he fumble his wording when he meet new ppl? ANYWAYS ... I'll just say I've moved on to another job and yes I can't do this for a living. He'll believe it since he thinks this way anyways.

 

[Zim Hosein]

Originally posted by: Skoorb
He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

Anyways, ALL the ads have my number on there.

May Skoorb?

 

[LuckyTaxi]

Originally posted by: Savij

Originally posted by: Skoorb
He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

Yeah, tell him about these guys then say that you're going on your own. But you're going to come off as a real jerk. You got your first clients and you're suddenly ditching him.

i really wanted to give him a chance. really, but today just proved how dumb he is. First part was the business card. he wanted to list EVERYTHING we offered on the buiness card. that would require about two business cards. In addition, he wants to cold call only to forget about the DNC.

Today this woman asked if we had a website. I said no and then she wanted a brochure. He shout back asking why the hell she wanted to see something. Well, maybe because you find someone off the net and she's being cautious as to who she's dealing with. ANYONE can buy a domain name and plaster false information on there. So he put something together in excel and sent it off to her. Might be why as to why she hasnt responded!

Anyways, i need to do things my way. Not saying it's the right way, but marketing classes from my college days help in this situation. So, it's frustrating working with someone who's hard headed and think it's his way or the highway.

 

[LuckyTaxi]

Originally posted by: Savij

Originally posted by: Skoorb
He's a dick, but he is still entitled to whatever you've made thusfar. Going forward, dump him, but you may have to tell him why, or make up a good story as to why you're going forward with it all - without him

Yeah, tell him about these guys then say that you're going on your own. But you're going to come off as a real jerk. You got your first clients and you're suddenly ditching him.

i really wanted to give him a chance. really, but today just proved how dumb he is. First part was the business card. he wanted to list EVERYTHING we offered on the buiness card. that would require about two business cards. In addition, he wants to cold call only to forget about the DNC.

Today this woman asked if we had a website. I said no and then she wanted a brochure. He shout back asking why the hell she wanted to see something. Well, maybe because you find someone off the net and she's being cautious as to who she's dealing with. ANYONE can buy a domain name and plaster false information on there. So he put something together in excel and sent it off to her. Might be why as to why she hasnt responded!

Anyways, i need to do things my way. Not saying it's the right way, but marketing classes from my college days help in this situation. So, it's frustrating working with someone who's hard headed and think it's his way or the highway.