@moneybee
"The only ship that won't sail is a partnership!" Money and work can complicate a good friendship. It can still go incredibly well, but being up front with what can happen and having a protocol in place for the ways it can go sideways is important!
@devinfromheaven777
Just like a successful marriage a successful business happens when both people give 100% holding nothing back. It's not 50/50, it's 100/100
@Kuduloka
I like that quote: "Anything with two heads in a monster." I'm gonna steal that one.
@jackh1032
A wise person once said to me, "sink or swim on your own, don't drag other people down with you". I took that advice and I'm still swimming 30 years later. Reaping the rewards of independence.
@michaelh7527
Generally, it's a dumb idea to go in business with family or friends. I got lucky. Years ago I started a lawn care service. We were both honest with each other and put full effort into it. I handled maintenance/repairs, he handled billing and paperwork, his wife handled schedules and phone calls. We did very well. But as you get older, that kind of work gets difficult and it was a mutual decision to stop. We are still great friends.
@michelhanson1500
Get a WRITTEN CONTRACT IMMEDIATELY!! A general rule is to Never go Into business with family and friends but there are exceptions to this rule. To not be a victim of regret and I'll feeling, get a written contract
@Alonso-m6z
there’s only three reason why you should have a business partnership 1. you don’t have enough funds. 2. You don’t know how to operate the business on your own. 3. You need the connections.
@jennarohrig744
As a lawyer partnership is very messy
@vickieturner8688
Dave, I can attest to what you've said is TRUTH! I bought her a brand new laptop computer to use in the business. The ONLY thing she used that laptop for was to play games! My 'partner' turned out to be nothing but a taker, without providing anything at all. NEVER AGAIN!!
@deltalima5806
I am SO glad I watched this. What really spoke to me was do a joint venture NOT a full partnership. Makes perfect sense. Thanks Dave!
@craigcarter400
Happened to my dad. He started a septic business and his partner / “friend” did a bunch of night jobs under the table. Right after that he got married and just runs it with his wife.
@sojoslim1618
One of the best mentors I've ever had in my life. I just bought the total money makeover and am waiting on delivery. What a blessing this man is.
@BLacknesmonstaz
Put in writing what each other will put in time wise also. Friend had a partnership and the partner never showed up to work... Just do it on your own.
@shadygrady3819
I’ve owned a funeral home for 14 years with a partner. So far so good.
@pammccutcheon9648
You are 100% right with a partnership.
@cincinnatislider
Dave is 100% correct.
@edhcb9359
College planning is a booming industry but I can’t of another line of business where customer expectations are more out of line with reality. Parents are going to expect to pay practically nothing for you to deliver a full ride scholarship to a top school for their B average child. No thanks!
@flisfinance5680
I feel that it can work if you have clear goals and expectations before you work. Also you need to communicate all of the time.
@Angelo4Flores
Currently going through the starting phase of this problem. I, humbly, put in a lot more work because i have more time, money, AND knowledge. Which, are THE 3 things that you don't want your partner to lack in comparison. He's my friend and brother in Christ so the last thing I want to do is hinder our relationship due to a perceived lack of effort when in reality it was MY idea that i dragged him into. He may just not be ready for business just yet, which is perfectly fine.
@TheComp_Troller