Many of us start a business by sitting around a table, with a margarita in hand, talking to a friend who innocently and suddenly becomes a partner in your dream. For some this is necessary because they have a J.O.B. and don’t have the time to do everything it takes to develop a business on their own. Think seriously about this because a partnership will affect your future and how you will not have as much control of your business as may be necessary.
Morebusiness.com posted great insights on what it means to be in a partnership and what’s required to protect your interests. “Partnering really highlights the differences between people! We need to decide what level of ownership we each have and clearly spell out our responsibilities. This will take some intricate planning because we won’t want to simply deal with new issues as they arrive; we’ll need to figure it out and spell it out clearly right from the very beginning. This will help to avoid such issues as who is responsible to do what and help to eliminate a situation where one of us feels like we’re pulling more than our weight in the business.”http://www.morebusiness.com/running_your_business/businessbits/partnership-solving.brc