The Key to Growing a Successful Multi-Owner Business
- Comprehensive Guided Discussion
- Informed Business Partners
- Written Agreement
Partnerships (multi-owner businesses) can lead to great success and wealth for the partners. Sharing the creative and financial burden makes running a business easier. But without the proper planning and care, the relationship can implode and cause financial ruin for everyone involved.
Your business partnership’s potential for success is highest when the partners have identified and documented all of their expectations and examined the critical business arrangements. It’s vital that you take the time to learn how to protect your new business and the value you intend to create before you start a new multi-owner business.
Protecting Your New Business Venture
Partnership agreements may not seem like the most important tools busineses have in their toolboxes, but they are. Why? Well, most partnerships fail because of unmet expectations. Partners get into business, but don’t have a detailed discussion of the vital aspects of the business, including management disputes, partner departures, or even potential disability and death.
A properly-written and comprehensive partnership agreement addresses a wide range of issues. These agreements prevent small disputes from ruining businesses—the entire venture could even become worthless if an unexpected tragedy were to strike!
A comprehensive partnership agreement sets the new business off on the right foot, with all the partners in agreement about its trajectory and goal. A partnership agreement is like a shield that protects the value of a business by mitigating risks to the business, the partners, and their assets.
What You'll Find Inside
Your Path to a Successful Business Partnership