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Authors Cathryn

7 days 30 days All time Recent Popular
Cathryn
Cathryn
@cathrynlavery
Choosing a business partner could be the 2nd most important relationship you ever choose (after who you marry.)

I just got out of a 5-year partnership that had become toxic.

Here's where I went wrong.

πŸ‘‡πŸΌπŸ‘‡πŸΌπŸ‘‡πŸΌ

1. If business partnership was like marriage, I'd married someone that I'd only been on a few dates with and barely knew.

I partnered out of insecurity with someone who talked a good game and seemed strong in the areas I felt weak.

This insecurity cost me $$$

2. Questions I wished I had asked before taking on a partner:

- What are my goals for this business?
- What are my strengths and weaknesses?
- What parts of starting/building this business am I the most unsure about?
- What might my perfect partner look like?

3. Qualities to look for in a business partner:

βœ… Financially sensible & secure
βœ… Shared vision & goals
βœ… Emotionally intelligent (high eq > high iq)
βœ… High integrity
βœ… Similar work ethic

4. How to split equity

50/50 isn’t a business decision, it’s a settlement.

It’s a common way to decide equity splits because a down-the-middle split seems 'fair'. However, it's also lazy and more often than not is a bad deal for one person, and gets worse the longer it goes on
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