The Prof G Pod with Scott Galloway Office Hours: A Guide to Business Partnerships, Consumption vs. Investing, and What to Do if Your Adult Children Are Still Living at Home
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Oct 4, 2023 Dive into the complexities of business partnerships, where transparency and compatible skills are key. Explore the rising concerns around online sports betting, especially its impact on young men and the risks of addiction. Meanwhile, learn compassionate strategies for parents dealing with adult children living at home, emphasizing support and community involvement. These topics blend practical advice with crucial insights into modern challenges.
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Deal Structuring
- Consult a real estate attorney to structure investment deals and ensure appropriate benchmarks.
- Typical real estate deals involve skin in the game (e.g., 2% of capital for 20% of economics).
Partnership Dynamics
- Approach partnerships with generosity, avoiding scorekeeping, especially in the early stages.
- Be transparent and address concerns openly, but prioritize forgiveness and mutual respect.
Partner Selection
- Reference-check potential partners and spend time with them to ensure compatibility.
- Look for partners with complementary skills and assets, creating a synergistic relationship.