My boss has recently told me that he has to declare bankruptcy due to a massive client who never paid. He is offering me partner status in the next company and I could really use some outside advice. I’m 20, in college, and planned on going into sales. My business on the side hasn’t had any traction for a while due to my lack of connections, but my boss has consistently had work for my company since his network is huge. He’s s offering ownership in a new company which will have the services I offer, with his connections, as well as all of his contracts from the previous company, which is well into six-figures. I’d be bringing skills and labor to the table. He’d be bringing that, plus connections and current contracts/relationships.
Where do I start? This seems like a great opportunity but throws a wrench in my other plans. Any outside opinions, and questions are welcomed! I’ve never faced something like this and have no clue where to start.
This is a big opportunity. He’s not declaring bankruptcy personally just in one of the ventures? I’ve seen serial entrepreneurs silo their ventures and if one of them go down it’s a cost of doing business.
Not to bring politics up but trump had something like 508 corporations and declared bankruptcy in 4 or 5 of them.
Look into the partners batting average in business.
But simply he’s established with financing and a network and your 20 young and hungry. Leverage what he has