The Bootstrapper’s Guide to Business Partnerships

Episode #163 – The Bootstrapper’s Guide to Business Partnerships
Date: 2013-07-04
Link: Lifestyle Business Podcast
 
A partnership is a sinking ship.
One of the biggest issues with a partnership is managing resentment.
Don’t overvalue money (funding).
Don’t partner for something you can pay cash for because ultimately the equity is going to cost you more.
What is worse than wasting your money is wasting your time.
Don’t partner on side projects that require a ton of time.
Focus on partnering is side project for resources rather than time.
Don’t partner with somebody that has different financial goals.
Create an MOU (Memorandum of Understanding).