Adventures In Businessing

Why Form a Business Partnership

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Show Notes: [0:00:39] Intro | Timely Topics Last time on AIB... [0:04:09] Benefits of Starting a Partnership Before You've Started a Business You don't have to be good at everything. You can lean on your partner to fill in the gaps. Look for someone who brings skills to the table you don't have. Feel out the relationship with the potential partner before overcommiting. You ideally want a partner with similar enthusiasms and energy levels. Even if you get along, if you can't agree on the vision...that's a huge red flag. [0:20:36] Trust is Essential If you have one thing, let it be trust. Stress equity and sharing the load. Spend time in your strengths. Sustainability is just as essential as trust. Ideally, the people you partner should be of the same calibur of people you'd trust your own child with. Conflict has a greater cost in partnerships and friendships. [0:28:21] Parting Thoughts What's the right partner percentage? What's the right number of partners? Evaluate, discuss, be transpare