Look at it this way.
You have a great idea for a boat. You have plans for the boat. You have an expert lined up who can build the boat.
You have no money to buy materials or pay to have the boat built.
Unfortunately, it’s at this point where most entrepreneurs jump into the shark infested waters. They swim, hoping the boat will materialize because their great idea and hard work.
Chris Reich
TeachU
I recommend that partners talk through a specific issue and then draft an agreement (called a resolution) that sets a policy. You can keep this in a binder to serve as amendments (or foundation) to your Partnership Agreement. In this post I’ll explain how to talk about things that bug you with your partner and how to draft a binding resolution to fix the problems.
Is the news, confinement, money problems, fear of the unknown making you depressed? Do this!
There is much to consider when setting the value of a business. Talk with a 100 experts and you’ll get 100 different valuations. These methods should help.
The 2 reasons creating a Partnership Agreement should be your first step when forming a business partnership. First, the protection a Partnership Agreement affords makes skipping this step rather dumb. Second, the process of working out the terms of your Partnership Agreement will reveal potential problems and help you work them out before they happen in the real world.
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