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Re: Starting a business with a partner?

Postby Cuddy » 07 Sep 2023, 13:25

We choose a partner for a business whose strength could complement our weaknesses. We should know that a well-defined partnership agreement is very important.
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Re: Starting a business with a partner?

Postby crestcapital » 07 Sep 2023, 13:26

There are lot of successful and not so successful partnerships business , but it is essential to ensure that your goals and visions are aligned before you jump on it.
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Re: Starting a business with a partner?

Postby Reedex » 07 Sep 2023, 13:27

If you want to choose a partner and willing to go into partnerships, it is important to mitigate risk by creating an exit strategy in your partnership agreement . This would help to save a lot of headaches if things does not work out.
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Re: Starting a business with a partner?

Postby Cuddy » 07 Sep 2023, 13:28

Partnership bring fresh ideas and perspectives because both partners will brainstorm and make innovative ideas .
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Re: Starting a business with a partner?

Postby olaniyi » 07 Sep 2023, 13:29

Their is nothing bad to start business with someone so you share experience together in a way to promote the business but you have to select a good person
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Re: Starting a business with a partner?

Postby crestcapital » 07 Sep 2023, 13:29

Conflicts are very natural in partnerships and it is essential to create a process for resolving disputes so that we can maintain a healthy business relationship.
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Re: Starting a business with a partner?

Postby Reedex » 07 Sep 2023, 13:30

Partnering open doors for growth and New market but it is important to do due diligence before committing to it.
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Re: Starting a business with a partner?

Postby Cuddy » 07 Sep 2023, 13:31

Setting up a regular check-ins to review progress and hold each other's accountable for the business goals is very important.
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Re: Starting a business with a partner?

Postby Mika » 10 Sep 2023, 13:01

I don't think I would have any problem in starting a business with a partner as long as we both have the same interest in the business.
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Re: Starting a business with a partner?

Postby stan358 » 10 Sep 2023, 13:51

Mika wrote:I don't think I would have any problem in starting a business with a partner as long as we both have the same interest in the business.
Having the same interest and vision are two factors that could make me to run any business with a partner. When two people are pursuing the same vision in business the destination becomes easier to reach..
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Re: Starting a business with a partner?

Postby Starry » 10 Sep 2023, 14:05

The pros of having a business partner are that you can get more funding for the business. The business partner may also have the connections and skills required for the business. That said, you have to make sure your partner shares your vision and how you manage the company.
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Re: Starting a business with a partner?

Postby Semi » 10 Sep 2023, 14:13

You must make sure that the terms of the partnership contract is clearly stated. Partnership scares me because it most times leads to fight.
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Re: Starting a business with a partner?

Postby stan358 » 10 Sep 2023, 14:32

Semi wrote:You must make sure that the terms of the partnership contract is clearly stated. Partnership scares me because it most times leads to fight.
No one could venture into any partnership businesses without any set of memorandum of understanding between them. It is very important to have the same vision among members..
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Re: Starting a business with a partner?

Postby Ravic » 10 Sep 2023, 20:03

There are some people that are that careless to partner another person in a business without a solid and concrete agreement.. They mostly do it for close friends and relations.
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Re: Starting a business with a partner?

Postby classicub » 10 Sep 2023, 21:01

Yes I would like starting with a partner, when you start a business with a person with time your partner will get to know more about the business. With the knowledge acquired the partner can take care of the business in your absent.
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Re: Starting a business with a partner?

Postby aovurevu » 10 Sep 2023, 21:05

lludawg wrote:Would you start a business with a partner? Yes, this will save you money, but maybe you will have arguments. I would prefer to start a business myself so I have complete control.

I will prefer starting business alone because I don't want anything that could lead to misunderstanding in the long run but I can still run business with a family member.
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Re: Starting a business with a partner?

Postby Uty Theo » 11 Sep 2023, 02:05

When you start a business with a partner, there is need for proper communication channels to forge understanding between partners unless it would be hard for such business to hold.
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Re: Starting a business with a partner?

Postby Starmix » 11 Sep 2023, 02:36

It is also nice to have a partner in business especially if it is your first time managing a business, however, we need to see to it that your chosen partner has the same passion as yours. If not, it may lead to constant debate. If the business is not big despite being new to it, why not it do solo?
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Re: Starting a business with a partner?

Postby Presh » 11 Sep 2023, 03:07

Having a business partner eases up the entire business process in terms of financial and physical efforts. When it is shared like that, these factors are doubled which helps the business.
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Re: Starting a business with a partner?

Postby kennysplash » 11 Sep 2023, 03:28

If you want to go down this path make sure it is someone that you know and trust very well. Any compromise from either of you can lead to the fall of the business.
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