adbusiness

Hi,

I’ve been running a software company with other two partners for last 4.5 years. I own 20% of the business and the other two partners own 40% each.

The sales division (manage by one partner) has been heavily underperforming for last one year and this has been dragging the business down. We had a numerous management meetings about what to do but without any success. I was suggesting a cost cutting and also to get rid of unproductive people (including the other 2 partners as they have only minimal contribution to the company revenue but taking great salaries). The other 2 partners were only saying that we need to work harder and try more different things and need to learn more. They don’t seem to see the real picture (truth) of what has been going on. They seem to just hope that miracle will happen to save the business.

So the company has been going the way (down) the other two partners had decided against my plan and on my expense. Only my division generates the majority of the revenue for the business.

As a result of the wrong management we (3 partners) have not been paid a cent for last 7 months. We can only afford to pay the staff salaries.

So I’d like to ask for advice how to deal with this mess. I’m thinking of cost cutting, selling the business or liquidate it.

Thanks,

jo9721

If you really think that your plan is going to work and your partner decided not to accept it. Then you need to finalise with them face to face and if they refused with you again then you need to higher a lawyer.