David J.

Pollay

Read David's bio and previous columns

March 30, 2009

To Partner or Not to Partner in Business?

In last week’s column, I suggested that if you’re faced with finding a job in today’s challenging economy, now may be the time to explore opening your own business. The question that some of you will ask is whether you should take on a partner to do it. I learned just how important that question was when I became an entrepreneur at seven years old. 

My business was selling knick-knacks for pennies to the kids who rode the bus with me on the way to school. It was an instant success. Everyone wanted to buy something. The challenge was that early on the demand for my products nearly outstripped my supply. I needed help.

A joint venture

After one week on my own, Simon, a kid in my class, had an idea. He came back to my seat on the bus to discuss it.

“David, I have stuff too.” He reached into his backpack and pulled out a plastic bag full of knick-knacks. “We could put our things together and sell them to everyone.”

Simon’s bag would solve my supply problem. So, we shook hands and became partners.  

The first week we made $2.92. With Simon’s help we more than doubled the revenue I had brought in the week before. The next week we did just as well. And each day we added the money we made to the cigar box I carried in my backpack.

But then, the following Monday, Simon did something that changed our business. We had just returned to our classroom from lunch. We were settling in to our desks with the rest of the kids. The teacher had not yet arrived.

“Come see our stuff,” Simon announced to the class. “David and I have a little store.”

The kids immediately swarmed around me. I called out to Simon, “This is not a good idea!”

Simon yelled back, “We’re fine. We’ll stop before the teacher comes back.”

The kids went into a buying frenzy. Everyone wanted something. Simon was beside himself. He kept passing our things around, getting the kids even more excited to buy.

I was nervous. I didn’t have a good feeling about what was happening. We were attracting too much attention.

“Simon,” I said. “We have to stop!”

Simon couldn’t hear me.

Then I saw our teacher enter the classroom. I knew this was bad news. Our teacher was plain mean. She would make fun of anyone who made mistakes in her classroom. You never wanted to be on her bad side. And we were about to be on her bad side.

Meanwhile, one of the girls in our class had set her sights on a postcard we were selling for five cents. But she didn’t have any money. Luckily her mom was at school. She asked her. Unfortunately for us, her mom was our teacher.

When her mom learned what was going on, she started scanning the room like a prison spotlight looking for an escaped convict. She stopped looking when she found me. Her stare gave me an instant stomach ache.

“Stop! Everyone sit down!” our teacher yelled. “Now!”

Keeping her eyes fixed on me, she said: “David, I understand you have things to sell.”

I couldn’t talk. I was so nervous. I just wanted to go home. Everyone was staring at me. I was bright red.

My teacher continued, “David, I’m so pleased to tell everyone what you’re going to do today with all of your money,” she said. “Come up here please – and bring your money.”

I picked up my cigar box and slowly walked to the front of the room with my head down.

 “David, look up,” she said as I arrived. “I want you to show everyone how much you made for charity.” She took a clear vase from her desk, put it in front of me, and said, “Pour.”

I didn’t move.

She raised her voice, “Pour!” And, in an instant, my business was over.

Here are the three lessons I learned that day: 1) Choose your business partner wisely, if you need one at all; 2) Know and follow the rules of the business you’re in; and 3) Be grateful that you live in a free society where the government cannot shut you down without due process.

I remembered these lessons when I opened my second business in 2002, The Momentum Project. This time around I decided to run my own business. What are your plans?

David J. Pollay is the creator of The Law of the Garbage Truck™. Mr. Pollay writes the Monday Morning Momentum Blog each week. He is a syndicated columnist with the North Star Writers Group, creator and host of The Happiness Answer™ television program, and an internationally sought after speaker. Mr. Pollay’s book, Beware of Garbage Trucks!™, is due out later this year. Mr. Pollay is the founder and president of the consulting and seminar organization, The Momentum Project.

© 2009 David J. Pollay. Distributed by North Star Writers Group. May not be republished without permission.

Click here to talk to our writers and editors about this column and others in our discussion forum.

To e-mail feedback about this column, click here. If you enjoy this writer's work, please contact your local newspapers editors and ask them to carry it.

This is Column # DJP105. Request permission to publish here.