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In small companies with more than one owner, it's inevitable that partners will occasionally differ on how to run the business. Where a climate of mutual respect characterizes the relationship, such disagreements are quickly and easily resolved. But what happens when partners find themselves in deep disagreement? Small business owners can take measures to prevent disputes from becoming crises.

Under some circumstances, the informal, unwritten plans of an owner-CEO are appropriate for a business. Under others, the formal, written plans of a CEO and board are what a company needs to operate well. But sometimes neither the minimal nor the full-blown approach to planning works. They may even be harmful. A company can decide whether one of these approaches is appropriate for itself by looking at nine variables: the administrative style and ability of its CEO, the ability of its officers, the complexity of the business, the strength of its competition, the gain that its managers expect planning to bring, the leadership of its CEO, the degree of uncertainty the company faces, how well its managers understand formal planning, and how well it is currently planning its actions.

Duncan Field, having left employment in the cable television industry, is attempting to find and buy a cable system with a financial backer. Traces Duncan's career path preparing for this move, shows development of his financial backing, follows his search, and describes an unsuccessful acquisition negotiation. Duncan must decide whether or not to place a large, forfeitable deposit on a system he wants to acquire, but on which he has no information from the current owner.

Bill Foster has assembled a team to begin a new computer company. He must now develop a financing strategy in view of the various kinds of capital available for new ventures.