So you and your very best friend have decided the coolest thing in the world would be to start a business because you love being together and think so much alike.
Before you get all caught up in the excitement, plant your feet squarely on the ground and think through what it might look like and whether it’s really the right choice for both of you. Moving slowly is not a bad thing when it comes to a big decision like starting a business.
Trust me on this. I speak from experience.
When I started my business in 1996, I had a business partner. It wasn’t the best business decision I ever made. 🙂 If you’re considering taking on a partner in your business or doing a joint venture project launch, use my story to help you make a wise decision.
Here we go…
I hugged my partner as we left the lawyer’s office ecstatic that we had just completed filing for our own S corporation. We’d officially opened our business consulting firm. Our dream of helping small businesses succeed was becoming a reality. We both beamed, so proud of our accomplishment. “I hope we’re always as happy as we are today,” I said.When I started my business in 1996, I had a business partner. It wasn’t the best business decision I ever made.Click To Tweet
That day was but a distant memory a short three years later as we sat across the table from each other with our mediator guiding the discussion about her buyout. It wasn’t all a loss. We were successful during our short time together and learned many rich lessons:
My partner and I reached agreement on her buyout, and the friendship was lost forever. Did I bring in another partner? No. It’s not for me. I’ve propelled my business forward better and faster on my own. Good luck on your decision!
Hello! I'm Denise, Your Project Partner -- I manage your projects and the project team so you can achieve that dream business you've been chasing. Managing the project plan, the deliverables, the timeline, the to-do list, and the team to get it all done are the things that light up my day. I'd love to help you get your projects done. Click here to learn more.
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