How You Safely Partner With Someone Else
“Getting a partner in business is like getting married but without the sex.”
- Don’t ever go into an official partnership immediately.
- Write a letter of intent.
- Start with 30-90 days
- Outline expectations of each person including hours worked and money invested.
- If it is working, move to a partnership. If it is not working, walk away friendship in tact.
- After the trial run, make an agreement with an attorney.
- Sometimes you’ll get lucky with a great partner; other times it may take several tries to find the right fit.