"My Business Partner Has a Huge Ego"

0:00What's next? >> So, I have a business partner. I don't want to want to work with long-term. We are 50/50. I can't just quit because the business would go down. Many customers would lose a lot of money. And I don't have the capital to start the business new. And I like don't want to screw anyone over. >> Yeah. >> So, yeah. >> What's the business? >> We We are a heat pump installation company.

0:26>> Heat pumps, where? >> In Germany. >> Germany, got it. Okay. Why don't you like your partner? >> Because like he has a really big ego and he It's really hard to communicate with him because he like says everything very complicated and he thinks it's good and that he's so intelligent but >> [laughter]

0:52>> Yeah. Got it, understood. So, I think >> I think if I were in your shoes I would say and I know that we're not going to be doing business together, then I would start the conversation saying, "Hey man, I mean, do you feel like this is working?" And if they're like, "I think this is amazing." It's like, "Well, that's kind of a problem cuz I don't think it's working." If they On the other hand, they agree, >> then you're like, "Great, okay, we both don't think this is working. So, >> why don't we just create a plan that we can exit this together and just kind of go our separate ways?" And so, my thought is and come with a plan ready.

1:21>> Which is like we have this is our you know, this is our run rate, this is our profit, these are our costs. I think that if we wind this down over the next 12 months, which by the way, shutting down businesses can spit off a ton of cash because you just invest zero in growth and you cut as many costs as you can. And basically revenue almost becomes profit for that period of time. And so, you just say, "We're going to work overtime till eventually all these people leave and it's going to slowly wind down."

1:46And then you can just take the cash you have and make your next move. >> Okay. >> Yeah, shutting down by the way, >> is just as hard as selling without the payday. It sucked. But, the good news is that you'll be much more hesitant to get into a business partnership. >> True. >> Yeah. And you probably know how to do this stuff on your own. >> Right. Um yeah, I learned that.

2:13>> Yeah. So, if you can do it on your own, then it'll still give you a return. So, like I just wouldn't get too butt hurt about it. >> Okay. >> Having lost everything multiple times, like just thinking of yourself as the asset is what got me through a lot of that. >> Were you always like confident when you lost everything that you can just build again? >> I didn't think about it. Like, what else am I going to do? Like, you you sit at home, you know?

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