This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2020/12/partnership-perspectives/
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At their best, business partnerships can enrich your organization and your life. At worst, they ruin your business and drain your energy.
What makes a good partnership? What have been your best and worst partnerships—and what did you learn? Kym Huynh, founder of WeTeachMe and a member of EO Melbourne, recently surveyed a handful of entrepreneurs to glean their insights.
Plan as though it will fail because the odds are, it will.
Tony Falkenstein, founder and CEO at Just Life Group Limited, founder and CEO at Just Water and a member of EO New Zealand.
Many business partnerships are formed because your partner is your friend. Imagine you’re 21 and you’re considering partnering with a person who’s your buddy. The odds are against the partnership surviving. There are two inherent problems:
If you both have the same skills, what have you achieved? You just have two payrolls to cover rather than one.
Between the ages of 20 and 30, your life is full of changes. What you dream of when you are 21 is completely different to when you are 30. Once you have obligations such as a lifelong partner or children, you cannot afford to be living off the smell of an oily rag. In contrast, your business partner might be quite happy proceeding that way.
I am personally against business partnerships, at any age. It just becomes another hurdle to jump over, and you are always compromising, otherwise, you end up with resentment and as enemies.
If you must join a business partnership, the most im… Read More
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