Offer for partnership in consulting firm

[coolie]

Hi,

I am going to have an interview with construction consulting company next week. I have 15 years experience in construction field from designer to cost specialist, and most of my work nowadays is to troubleshoot construction management problem.

My problem is, I never been to partnership/directorship shoes so I do not know what to expect in terms of admin/management roles and also liabilities. I am from Malaysia and most of my friend who in that level is not in Singapore practice.

Any advice?

[Strong Eagle]

Whole books have been written on this subject. Just a few starter questions.

a) Do you trust your partners? If yes, why? If no, why?
b) Do you have a partnership agreement? What does it cover?
c) Do you have an agreed upon business plan with all partners... market, strategy, growth, salary, bonus, etc?
d) Do you have an exit strategy for the business? If it is successful and a partner wants to cash out? If it is a flop?

[coolie]

I didn't reach that stage yet. One of the partner called me and explain their current needs and invite me to join them on partnership basis. I've just studied about the company and I think they are great company to work with.

If they invite me to be an employee I know what ask/discuss with them, its just like normal/day to day employee-employer interview. But to be interview for partnership is something new to me. I know they really need my expertise based on their current situation and as for me may be this is a chance for me upgrade myself. Is 10k/mth for partner/director too low, or too much? The company has about 50 staff, half of them is engineer level, there will be at least 10 engineers reporting to me.

Usually how people reach their partnership agreement?