In this episode, Shannon explores the complexities and challenges of business partnerships. She explains essential concepts like aligning equity with effort, guaranteed payments, and the importance of complementary skill sets.
Shannon also discusses alternative business models to avoid common pitfalls, aiming to keep business relationships more professional and less conflict-prone. Whether you're considering a partnership or are already in one, this episode offers valuable insights for navigating this tricky landscape. Tune in to gain practical tips and make informed decisions for your business journey. What you'll hear in this episode: 04:04 Distributions should align with ownership, unlike salaries.
07:04 Align equity to effort in business partnership.
13:18 Partnerships complicate life; independence offers freedom.
14:43 Joint ventures enable flexible business collaboration initiatives. If you like this episode, check out: Managing Business Dynamics with a Partner
Start with This Financial Metric (Financial Priority Formula Part 1)
What Are the 3 Things You Need to Know Before Buying a Business? Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
