Ahhh picking the right partner…yes definitely not the easiest thing to do. Sometimes you can hit it off so well with someone and then it end up not working (see below) and then other times you may not think you will like someone and then over time you will become great work partners because you compliment each other. That’s truly what it is all about when it comes to partners….the whole yin and yang thing. You need someone who, as Ken mentioned will do all the things you hate to do therefore, you will hopefully always appreciate one another. I have not yet found the right partner for my business, but fortunately have several supporters who help me fill in the blanks which can be eaqually as nice. Sorry for the absenses of Ken’s articles….won’t let it happen again!  

How to Pick the Right Partner

I have been getting a lot of emails lately asking me questions about my business.   Not really about Twig, but more general questions like “So what made you start your own company”?   or “I want to do what you are doing, but I don’t know where to start.   What is step one”?   Perhaps I will tackle these questions later in the year, but I feel compelled to answer one question that I have received more than any other “How do I pick the right partner”?   This may shock some readers, but in my opinion, if you can make it without a partner (especially a financial one), go solo.   Let me explain.

Originally, I had a partner.   I met her through one of my jobs, and she was going to be the design/creative arm of Twig and I was going to be the sales/financial/sourcing arm.   It seemed like a good fit.   I believe that you pick your partners like you pick your doubles partner in tennis:  If you have a strong forehand, pick someone with a strong backhand.   I can’t draw a stick figure, and she did not know a balance sheet from a balance beam.   She was to own 30% of the company in exchange for her design/creative services.   We cemented the deal over lunch.

Keep in mind, that the negotiations were going on while our beautiful home was on the market. My entire family was stressed out about the impending move.   My partner designed the line and came up with some interesting product.   We traveled to Mexico a few times and I quickly learned that even though I was financing everything, and I owned the majority of the company, I had no input what so ever on product.   This struck me as strange as I was going to be selling the product.   However, my former partner never missed an opportunity to remind me that SHE was the creative/design person..not me.   Our relationship started to go down hill….fast!  

Around this time, we also needed to pick a name for the company.    I submitted a list of names that I really liked and she systematically shot them all down.   She then submitted a list to me of her creations and out of the 8 she submitted, two had her name in the title.   None of the names she came up with mentioned my name.   Now our down hill relationship was hitting mach 1.   We agreed to a name and she decided we need a professional to design a logo which meant  I had to come up with a large sum of money for the logo people. The first three versions were rejected by her.   After a fourth revision, the logo people said any more revisions and they must charge you $200/hour.   My former partner thought the “W” in “Twig” was too pointy so we had to start again.   Meanwhile, I am watching the cost meter spin like a fan. I am getting angrier and angrier.  

Finally, we were almost complete with our inaugural line.   We had sold our home and were moving in 11 days.   We had one more trip to Mexico planned.  I was going to be back three days before our move.   I then took a call from my “partner” who told me “I am not going to Mexico until you compensate me for my designs”.   What?   Excuse me!   This was not part of our original deal.   She explained that she was changing the deal, and she needed to be compensated and she was not going to Mexico until I agreed to her terms.   And, she added, I needed to send her $3000 so she could hire an attorney to draw up the new arrangement.   I was incredulous!   I am supposed to go to Mexico in the morning with my designer who is now insisting that I give her $3000 so she can hire an attorney who is going to send me a demand letter.

In the end, I paid her a sum of money for her designs, and I was very clear about the fact that if our paths ever cross again, she should cross the street from me.   I made it through our first line, and swore that I would never have a partner again.

At this point, my Wife Margo stepped up.   She agreed to do “all the things I don’t like to do”(her words, but she is correct).   This includes invoices, money transfers, dealing with the broker, NAFTA certificates, shipping, etc.   She also bought QuickBooks and went through the tutorials on her own and learned the program.   More importantly, Margo has my back and I have hers.   We encourage each other, we console each other, and we realized that we really work well together.   Thankfully, Margo has a great backhand!

I would not recommend going into business with a partner if possible.   The amount of partnerships that last and are beneficial to both parties are truly scarce.   If you must have a partner, make absolutely sure that they have your back.  

I am incredibly proud of my partner.  Not only does she do her job well, but she still manages to be a great Mom and great Wife.   Not to mention that she ran the Austin half Marathon this weekend.  

Way to go Margo!   Thanks for being such a great partner!

Ken Proctor
Front Man – Dad
Twig Footwear, LLC
c: 501.276.0140
e: Ken@twigfootwear.com
 www.twigfootwear.com