- Joined
- Sep 25, 2023
- Messages
- 26,422
- Reaction score
- 2,300
- Trophy Points
- 147
- Location
- Philippines
- D Bucks
- 💵3.059450
- Referral Credit
- 100
If you have a supportive friend who is willing to invest in your dream business, that will be awesome. Building a business with someone you trust is much easier and more fun. To help the partnership become even stronger, I suggest having a clear conversation about the roles and responsibilities. Who will each of you be responsible for in the business? Who will handle finances, marketing, operations, and others? What about investment and profit sharing? You have to clearly define how much each of you is contributing financially and how profits will be divided.
Regarding the decision–making process, how will you make important business decisions together? Also, in the exit strategy, it is always a good idea to think about a plan for the future, including how you would handle the business if one of you decided to leave or if the partnership doesn’t work out as planned. Having these conversations upfront can prevent misunderstandings and build a solid foundation for your partnership. If you are ready to answer all of these and already have in mind the right person you will want to partner in your business, then proceed
Regarding the decision–making process, how will you make important business decisions together? Also, in the exit strategy, it is always a good idea to think about a plan for the future, including how you would handle the business if one of you decided to leave or if the partnership doesn’t work out as planned. Having these conversations upfront can prevent misunderstandings and build a solid foundation for your partnership. If you are ready to answer all of these and already have in mind the right person you will want to partner in your business, then proceed
