When two partners launched a souvenir sticker company – one partner being in charge of design and the other bringing the capital – they enjoyed rapid success, sales and increasing revenue. Yet, despite being on the same page at the beginning, they never talked about where they saw the business going in the future – and had two vastly different views on what should happen.
This situation is a lot more common than you expect. I was invited to speak on this topic for MSNBC. There are so many loopholes that can occur, especially in a business start-up, so it’s important to know:
- What conversations must you have at the beginning?
- What do you need to “tie up” legally to avoid a deeply painful breakup in the future?
- What is a “time horizon” and why is it necessary?
- What help can an outside advisory team give?
To learn more (and find out what happened for the partners in question), watch the video