I recently received a question from a small business owner who was considering bringing five partners into her business. She wanted to know what she needed to do to make this happen. She gave me limited information regarding her specific objective, but my first reaction was — five partners????
I am not one, but my attorney has been a trusted adviser for quite some time. Don’t do something like this on the cheap. Better to spend the money up front than to pay it down the road somewhere. I suggested she may want to investigate creating a joint venture or outsourcing as possible options. That may work better for most small business.
I used to have a partner. Key words “used to.” I would not do it again. I would develop some type of joint venture though and I do plenty of outsourcing. I wrote about my partnership experience for My Business magazine a few years ago. What I discovered really hasn’t changed over time. Head on over to My Business and read the article here.
Hello! I'm Denise, Your Strategic Partner -- Let me guess. You bought into the hustle, hustle, hustle vibe and now you're on the brink of burnout. You keep setting your alarm for earlier in the day, but don't gain anything from it -- except bleary eyes and frustration about how little you've accomplished at the end of the day. I get it. I've walked in those shoes and they aren't a good fit for anyone. Let me help get you where you want to go without all the stress and frustration.Click here to learn more.
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