I want to sell our business, but my partner doesn't--what should I do?
I'm co-owner of a business with my friend and have been approached by a wealthy group who wants ownership. My other partner is not interested and has put more time and money into the company than I have (for now), but does not share my vision. I can legally decrease his ownership but it may affect our friendship. The group will not sign on unless I decrease his ownership. Is there a way I can be fair here? He does not want money (because of the business potential he wants to keep his ownership). I originally partnered with him due to our friendship and his capital, however capital is no longer a problem and his skills are easily replaced by an employee. The group wants me to continue as primary owner for my skills and prior experience. This group has the resources and ability to make my company a huge success. Without them, I think it will take many years or more to reach that point, if ever -- any suggestions?