Sunday, 28 April 2013

Teacup need good foundations

Sarah & I both have builders at the moment, a necessity that comes when you buy a bigger house that needs some TLC. The little ones love it, and will pretend to make 'buildermen' a cup of tea every 5minutes! DangerMouse can often be found in the soil / rubble pile covered in Mud saying 'oooh muddy muddy muddy'.

Which is why we've been talking about foundations! Businesses and houses are alike, both need good foundations. When we founded u-ni-k we drew up a business plan, we did our market research, we drafted and redrafted again a partnership agreement and we opened up a business bank account - all before registering ourselves with Companies House.

We did this because you never know what might happen, the partnership agreement includes what happens if one of us is no longer here or alternatively what happens if we want to include another partner! It's several pages long and we both have a signed copy!

So if you're thinking of going into business with someone else, build on good foundations - not only a solid friendship but a decent partnership agreement that you can both sign and have a copy of. One day you may be glad that you did!

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