there are obviously pros and cons with going into a business partnership for a business venture.
In this video with business coach Marie Forlio she will explain some of the red flags that you might want to watch for if you are considering going into business with a partner.
One of the red flags is the balance of business ethics between partners. If one person is a workaholic, and the other wants to outsource and values free time, there will be some conflicts. I say this because this was a situation that I was in my expedition management business with my business partner.
Before jumping into a business partnership look at all your options, and weigh out the benefits and the possible stumbling blocks.
In addition to business ethics, you will want to know each other’s long-term and short-term agenda for the business. For one it may be to grow the business and sell, while for the other it might be wanting to create a long-term job and leave a legacy for their children.
I love talking with people about business strategy, so if you want to have a chat, feel free to contact me.
Best regards,
BRAD MagicBrad GUDIM
