Are You Ready to Partner Up?

Are you considering partnering with another business owner to grow your company? A short video from Entrepreneur features successful business owners with their best advice for anyone considering a partnership. Here are some of the highlights:

  • “One, I must like them and trust the person. Two, they have to bring something to the table that I cannot myself provide.”
  • “Ensure that your end goals are aligned. For example, do you want to operate as a passive lifestyle business or build it to sell for huge multiple figures? Do you have any other projects or commitments which will conflict with the business or distract your attention too much?”
  • “The biggest mistake you can make in partnering is going into it too quickly. Make sure you outline the responsibilities of each partner. Otherwise, you might get stuck doing all the work.”

To read more, and to watch the short video, see the article from Entrepreneur.