For many reasons, I am going to change the real names of companies involved. :-)
I started a recruitment company "X" in 2006, I was young , ambitious and very naive. I worked really hard for 1 year, but had no funds to expand or employ more staff. I was recruiting, typing, working finance, sales, interviewing and just getting way over my head. Until one day I saw company "y" on the internet. They looked FAB! Great website, great introduction and then thought, why not contact them to merge. I could do one state and they could do the other.
To cut a long story short, they agreed. However, we agreed to only sign "ownership / partnership" after 1 year of business to see how things go. (This is where the young and naive comes in.)
After a very successful year, changing all my clients and candidates to their name, chats came up for % and that did not go too well. They wanted to offer me 10% of my company.
YES and you can imagine the shock when I heard that.
With fear of being unemployed with now, no clients and candidates, I accepted. (many tears and glasses of wine later).
But lets get to the meaty part - 6 months into the year, I get a call - I need to leave the office immediatly. I don't want to get into the nitty gritty, but they found "reasons" to fire me. After a CCMA case, I was found innocent of all charges, however could not go back - who would?
I found myslef jobless, car-less and very very out in the middle of a reccession :-(
But this is where the "ambitious" part comes in - I started up again on my own and 2 years later, doing more successful than I can ever imagine. And company "y", well they had to shut some doors.
So the lesson - well I have a few:
1. Never trust anyone in business, unless it is in writing.
2. People are not always who they portray to be - make sure you have all your T's crossed and I's dotted
3. Never doubt yourself, if you believe you can do it, you can!
4.and finally: Just as you think your life is doomed, the sun comes up and new beginnings dawn!