business partnerships

Deciding on a business partner can provide the key to a rewarding and successful long-term relationship.  Rhonda Abrams’ USA Today article outlines a number of considerations to keep in mind.  I know a number of entrepreneurs who raced into partnerships because they weren’t comfortable being alone — and, like romantic relationships, that’s usually not a […]

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Post image for Basic Training: P is for You Can Pick Your Partners, You Can Pick Your Nose . . .

. . . but you can’t pick your partner’s nose. (Or can you?) I received an inquiry from someone who, I’m sorry to say, is going at this bass-ackwards. She’s chosen a business partner, but not the kind of business she wants to set up. She wants to control all the decisions, but seems more concerned […]

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Yes, lack of cash flow can kill any business, but it seems to hurt more in business partnerships. First, there’s the denial phase (“sure, we can continue to meet expenses and take our monthly draws”).  Then, there’s the belt-tightening phase (“we’ll hunker down, but this, too, shall pass”).  And then, like a slowly seeping poison, […]

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Post image for Jerked Around by a Business Partner

From the “No good deed goes unpunished” department: Q: I deposited more than $20,000 into my business partner’s account under the impression that he would add my name to the new company and to the house I had paid off for him and that he would put my name on the new car title,  too. […]

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I started a discussion thread in our Successful Business Partnerships group on LinkedIn concerning the importance of shared values between business partners.  How can you tell if you’re really on the same page? Aside from certain basic questions (which I know — see the kind reference to my book, The Key Questions in the thread), I was […]

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Post image for The Partner Principle: Interview with Robert Tuchman

I was intrigued with what Robert Tuchman had to say about his experience with business partners–check out Chapter 5 (“The Partner Principle”) of Young Guns: The Fearless Entrepreneur’s Guide to Chasing Your Dreams and Breaking Out on Your Own. Especially as his is a success story. How rare is that? So I invited him back for a second […]

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Post image for Feeling Suspicious? Time for a Checkup

I was recently contacted by a business owner who felt that he was being cheated by his business partner.  He had nothing specific to go on . . . just a gut feeling . . . and there was no paperwork.  What could he do to protect his investment? Whether or not he was actually […]

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Post image for Business Partners: A Cautionary Tale

In this challenging economy, I’m seeing a lot of entrepreneurs begin to re-evaluate their business  . . .  and, in particular, their business teams. When business is going well, it’s easy to overlook  the flaws and peccadilloes. Partly because we want to ride the prosperity wave. But when the wave crashes, and you’re dumped onto […]

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Q.: How can the owners of a company merge three separate businesses located in three different countries?  Each business is owned and operated by the same people. Read on to find out . . . .

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Post image for The Power of Peers

My colleague, Geri Stengel of Ventureneer, conducted a survey several months ago that examined the importance of peer advisors to help entrepreneurs deal with their business challenges. Maybe it doesn’t come as any surprise but, according to the survey, the results clearly showed that business owners achieve greater success and ease in solving problems when […]

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