What options are available in a three-way equal partnership when it becomes clear one of the partners is damaging the growth of the business? While hugely successful in a social capacity as a brand, my business is in financial ruin. I've personally been bankrolling the entire operation with my own money and equipment in order to keep it alive. The founding partner does not see eye-to-eye with the rest of the team, refuses outside funding, stubborn, complains constantly, treats the other partners like unpaid employees, abused (see also: stole) $1500 from the company account, and has become nearly impossible to work with. He had a great business concept, but no vision on how to monetize and operate functionally. We are in talks of a merger with our biggest competitor who has seen financial success, but he's fighting it.
I wish I could just buy him out, but he would never sell. Very much "it's the principle of the matter!" kind of person and would rather let the business fail than give up control of the brand. I've invested $10k+ into the business so far, plus time, labor, and talent, and all of the equipment belongs to me. I can't keep funding everything, but if I stop we'll be bankrupt. I... don't know what to do.
I wish I could just buy him out, but he would never sell. Very much "it's the principle of the matter!" kind of person and would rather let the business fail than give up control of the brand. I've invested $10k+ into the business so far, plus time, labor, and talent, and all of the equipment belongs to me. I can't keep funding everything, but if I stop we'll be bankrupt. I... don't know what to do.