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ASK CHRIS YOUR QUESTION! Go ahead. You know you’ve been dying to ask:
Partnerships in business can be the best thing that ever happened to a company, but without knowing how to organize the partnership and how to manage it… it WILL fail. No matter how good it was at the start.
Several of the fastest growing, most fulfilling companies I’ve ever started, have been with partners. Not always a 50/50 partner, but no matter how much stock they owned, I always treated them like an equal partner because when you have two or more minds working together towards the same goal you can achieve amazingly fast results.
So if you’re in a partnership it’s your job to set up some basic rules that keep that partnership strong.
With that said, there have been 2 companies I used to own with partners that ended up being very costly lessons for me. Lessons that I’ve never repeated again, but lessons that I don’t want you to learn the hard way.
It’s faster and easier to learn business lessons from someone who’s been there, done that, then it is to pay the price yourself!
In this episode of Built To Grow I’m going to show you the mistakes I’ve made and how we organize highly successful partnership agreements, because documenting everything AT THE START of a partnership is one of the smartest things you can do, and getting it all done in one day, in a room with your attorney like I’ll show you, will save you time, money and frustration.
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Chris is an entrepreneur, investor, bestselling author, and business adviser to a handful of high growth companies. He has built four 8-figure companies, developed winning leadership teams across multiple industries, and designed business systems that predictably grow multi-million dollar brands. He’s been featured in financial periodicals such as: Success, Inc, Bloomberg, and in Entrepreneur as a top entrepreneurs of the time.
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