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Should You Get a Business Partner? How to Avoid Costly Mistakes
Manage episode 441438581 series 3593888
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In this episode, Josh dives deep into one of the most common questions entrepreneurs face—Should I get a business partner? With insights from his personal experiences building and selling four companies, Josh covers the pros and cons of partnerships and shares crucial tips to protect yourself and your business. Here’s what you’ll discover...
Episode Summary:
- The “Vegas Wedding” Trap of partnerships and why most are easy to start but hard to end.
- Why 50/50 partnerships don’t work—and the one thing every partnership needs to avoid deadlock.
- How to avoid giving away millions in equity by using a vesting schedule.
- The critical need for a buy-sell agreement and key-man insurance—protect your business if disaster strikes.
- Why most small business owners don’t actually need a partner—and what they should do instead.
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