Wednesday, April 8, 2009

Find a Partner

It is impossible to do it all alone.

Find someone you trust who shares your passion and bring them into your business. I promise you, it will be the best decision you ever made. The only reason I have survived 10 years is because of my business partner and my supportive family.

No matter what you do, make sure you have a written contract, signed by all partners, that explains how you will share money and what you will do in case of a conflict. For example, the R-Squared Computing Shareholder’s Agreement calls for mediation should my partner and I ever disagree. We have even named the mediator in the document because we both trust him to be completely impartial. If for whatever reason we both disagree with the mediator’s decision, we spell out that we will settle our differences with pistols at dawn of the following day.

I doubt the duel will hold in Court, but it is an added incentive to work things out before getting to that stage!

A good partner is mandatory of you want success. No one can do it all alone.

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