Just wanted to get some feedback on this idea.

Start a group that will start up a small business as a group and share in the profits. Everyone in the group will also help in running such businesses until workers can be hired. We will hire from within the group as much as possible.

Give me your ideas,,,,,,,,

I'm not sure what size group you had in mind, but if it is more than two or three people, you're asking for a major headache.

Make sure that you sign paper contracts with everyone concerned and all details of the agreement are laid out from the very beginning;

Including, what happens if a member wants out.

I also recommend a partnership insurance policy that will buy out the shares of any partner who might die. This can be simply done with an inexpensive joint first to die term insurance policy.

You haven't given enough detail for me to add more.

Tina Brooks, VP Marketing
Brooks Pepperfire Foods, Inc.
Makers of Peppermaster Hot Sauces
http://www.peppermaster.com

Eat more peppers!

The size of the group will be determined by the business. The first business that will be started will involve the entire group, if they wish to participate after the business idea is selected.

Every person that participates in the group will have a contract and an operating agreement, as the group is formed. Along with a partnership agreement with exit clauses, etc.

This idea is based on a class offered at Babson College. Last year 14 businesses were created and 28K was raised and donated to charity. Obviously this venture would be for profit. With the intent to have the group grow adding new members with new talents and new business ideas.

Working together is a great idea!

I love the quote by John Paul Getty, "I would rather be paid on 1% of the efforts of 100 people than on 100% of my own efforts."

It really is powerful when we work together. My wife often uses the quote around the house, "Many hands make light work."

Here is a link to a video that explains a way that many people can work together to create wealth: www.myhomeoffice.ws

Check it out and have fun!

Jim

jim@itsagoodlife.ws

Thanks for the feedback. This idea is a purely a concept I have thought about for sometime.