How to handle people trying to fool you in business partnerships

[nabiloye]

As'selamu Aleykum Werahmetulahi Weberekathu brothers/sisters,

I recently made a deal with a relative to work on a deal where we didn't discuss the terms of sharing the outcome that'll be coming out of a deal I solely made happen. I feel that I require equal share we have with the outcome (profit) & have mentioned with the relative (business partner in this case) where he kind of accepted it but with a low voice of confirmation. Nevertheless, recently he informed me that he have used 50% of the initial payment for his personal use. I felt so bad but didn't want to have grudges between ourselves & didn't say anything, even though I have a feeling that I'm being fooled and being used.

How do you advice me to continue the relationship & come up with a win-win solution.

Cheers,
Nabil A.

 

[ardianto]

Wa'alaikumsalam Warahmatullahi Wabarakatuh.

Problem like this often happen in business relationship with relatives among people from Eastern culture. Indeed, if you are blatantly angry at him, your relationship with him can be broken.

My advice is, make business development plan which some of profit will be saved for strengthen the capital to develop the business. Tell him that he is responsible for the plan too, which discipline of financial is very important. Tell him to be patient in developing the business, and convince him, when the business has grown bigger, the profit will be increased, and the amount that he will get will be bigger too.

 

[M.I.A.]

i work better on my own.. even if the pavements were lined with people i know the door is only open due to allah swt.

also never mind partners iv had staff that believe they own the place by the time they left.

and i wouldnt mind as long as they didnt compromise the integrity of the product..

but they persue other plans.

and so i dont do partners.. which often leads to a less than even split.

mankind is insolence and competition.

alpha males dream big apparently.

...nobody wants to watch me trade up from a civic to a lambo apparently..


remember to grab the bull by the horns... not the tail.

although mixed feelings about trading whats in front for what happens in the back.

allah swt loves those that sell themselves o_0

hope that helped :|

like i have become used to saying, its not what you do that apparently counts...

its who you do it for.

 

[hisnameiszzz]

Stay away from business partnerships and go it alone if you can. Never trust anyone.

I invested some money with an Aalim (he used to be my teacher many years ago), he is quite well known in this immediate area. The agreement was that I get a certain percentage each month and all the money would be returned after two years.

We are now in year four and the money has not been returned nor did he give me the certain percentage for numerous months within the agreement period. He has made every excuse under the sun and I am having to take him to court. It's a long and costly process and I am going to have send the bailiffs round as he is not going to pay me back.

If an Aalim can do this, then what is a normal human being going to be like. I've promised myself I will NEVER ever go into business with someone else.

 

[M.I.A.]

lol its a world of winners and losers isnt it? although you probably have a good chance yet.

...only way to.. erm.. not lose is not play.

no wonder they say life is about risk.

hopefully you have been given a good script in the correct hand.

and the rigteous will prevail.

i myself am in the process of being told i can no longer function by my backers..

they just wouldn't buy it. :|