Small Biz Chat: August 13, 2021
Partnerships: Pros and Cons
There’s a lot of moving parts when it comes to running a business. A partnership offers an opportunity to spread the work and the burdens but for people who like to be in charge it can be a challenge.
What we discussed …
There are formal and informal partnerships. In both cases, you need to get to know yourself and the person you are thinking of partnering with.
If it’s a good partnership, it’s going to be balanced. Each partner can work on what their strong suit is and what they’re interested in, and vice versa. That is a force multiplier in itself.
Sometimes in partnerships, it is hard to put egos aside. However, the fact of the matter is, you have to if you’re going to be in a partnership. You also have to be as direct as possible, even if the other may not like what you have to say.
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