How do I get rid of my disastrous business partner?

Dear Aunty B,

My business partner is a disaster and I have to get him out of the business. He is making bad business decisions that are costing our business money. He came from a similar IT background as myself but heads the sales side of our company, but he has no real sales experience.

It was okay when we were small but now he won’t step aside and let a professional run the sales side of the business. I have offered to buy him out but he named a ridiculous amount of money. How do I get rid of him?

DG,
Sydney

Dear DG,

The good news is the discussion has begun. Now you are bargaining. He has put in an ambit claim and you lob back another one until you agree on an amount. You will end up paying more than you want to get rid of him and will feel bitter in the short-term. But in the long-term as the business takes off, you will offer daily thanks to the Great Commercial Being in the Sky (otherwise known as Aunty B) for sending him on his way.

So take the emotion away. Treat this like a normal negotiating situation. Be professional. And remember, he is losing his future earnings, capital gain on the sale, a fantastic business and you! Poor bugger.

Good luck,
Your Aunty B

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