If you’re overworked in your business, you might start to think about bringing a partner on board. Obviously, two people can do twice as much work and turn the earnings around, right?
Not necessarily.
Deciding to find a business partner is not a task to be taken lightly. Afterall, you’re talking about giving away some of your equity that you’ve built into your business.
Here are some questions to ask yourself first:
- Can the responsibilities that you’re ready to give away be completed by an employee or a freelancer?
- Are there other beneficial business arrangements that could work, such as a joint venture or gross revenue share?
- Is the person you choose in it for the long run?
You always hear stories of business partnerships gone bad, which can lead to years of legal battles. Check out this video below for more advice and questions. And always do your research before making such a huge decision.
