Candidate: If I don’t want to “bet the farm” can I have a partner?
Daly Coach: Iffffffff you want a boss, yes, you can have a partner.
Candidate: Nope. No bosses. I’m doing this to be the boss. Just an investor.
Daly Coach: Well, in my experience, when someone’s money is in it, their mouth is too. There’s no such thing as a silent investor. An investor means a boss.
While candidates love to romanticize about bigger investments by taking on a silent partner, the real world scenario is nothing like a fairy tale. Money is one of our most emotional subjects. Money breaks up marriages. If money is the reason for the partnership, the whole relationship is centered on that money. Don’t kid yourself…your “silent” investor will not stay silent for long. If you are starting a business to be your own boss, to have full control then invest in a business you can comfortably afford without an investor.