Partnerships
Do you know if it is viable to work with a remote business partner when running an e-commerce business? Both partners have had really strong experience and success. The timeline of events are as followed; - A business partners lease ran out in Melbourne - The partner then was going to buy real-estate in Melbourne but decided to move to Korea quite abruptly with no real warning - The reason behind the Korea move is because it is cheaper - The partner wants to go there for 4 months during the startup phase of the business - If the partner has decided to do this now, what is the likelihood of them doing this again in 2-3 years - The end goal is to build an 8 figure business within 4 years which is achievable with the track record all partners have had An e-commerce business can definitely be run off a laptop but our questions are. > Is it really viable? >Will it be harder to bounce ideas and be innovative? > What objections can you see for this situation? > Will this kill momentum? > What are your immediate concerns?
5
Answers
Wordpress developer with 10+ years of experience
It really depends on your relationship with this person, which I didn't think you mention. Do you know him and trust him?
If you trust him that's fine. The only issue I see is the time zone difference, you'll just have to work it out between the two of you.
Answered over 5 years ago
Experienced manager and startup founder in GCC.
You could ask yourself this question: Do I really need a partner? Partner relations as it is are difficult to manage for most startups but having one on a remote basis will make it even tougher.
I personally think that avoiding partnerships unless they are absolutely critical is a good idea.
You could hire someone as an employee or you could hire someone with an understanding that he gets some equity but is not a part of the decision making process.
Feel free to try a 15 minute call to discuss more:
Answered over 5 years ago
Business Transformer and Shepherd
"Mutual benefit" is the main idea, must be in the mind for every step of the designing of the partnership.
There is no certainty of viability, need many factors for consideration
Answered over 5 years ago
Clarity Expert
~ Is it really viable?
Distributed teams are very common. If you are startup is not having to deal with shipping/receiving or if onsite events are not critical; then there are plenty of proven examples where a remote team is viable.
~ Will it be harder to bounce ideas and be innovative?
As long as all stakeholders communicate regularly and a system like Slack or Discord is adopted, it shouldn't be.
~ Will this kill momentum?
Only time this might is around an actual product launch where timing is critical for success. Otherwise it shouldn't impact anything.
~ What are your immediate concerns?
My only concern would be that adoption is key. If you both are unfamiliar with or haven't adopted agile methods for remote work, I think there will be some growing pains. But if you both commit fully to the process and the project, being remote shouldn't slow you down.
Answered over 5 years ago
Award-winning Marketer, $30M+ in Managed Ad Spend.
Nothing, not even video conferencing will replace face to face exchanges. Make sure you connect regularly face to face to keep the relationship tight and to make sure you are in control or at least aware of what is really happening when you are not present.
Answered over 5 years ago