Should I bring on a partner? We decided to do this episode for you because this is a common discussion. We're asked about it a lot. The things we learned the hard way. Mitigate the pain of a partnership gone bad by following these steps.
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Four things to take note of on how to avoid bad partnerships:
1) Build the relationship first - The “dating” period, get to know each other and see if you have similar levels of integrity, discipline, and grit.
2) Avoid a general partnership and do it deal by deal - Test the waters by working together deal by deal instead of jumping into a full on general partnership.
3) Define expectations - SO important to make sure everyone is on the same page, the more detailed the better!
4) Layout a breakup agreement - It is best to do this up front during the honeymoon phase and be prepared in case things don’t work out.
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