Amplified Impact w/ Anthony Vicino 3 Protocols To Handle Toxic Relationship (in life & business) (Audio) | Ep. 886
May 31, 2025
Discover how business partnerships mirror personal relationships and the importance of addressing potential conflicts. Learn protective strategies to maintain clarity and stability in these dynamics. Explore essential elements for forming strong partnerships, including control, clear roles, and exit strategies. Understand the significance of operating agreements and buy-sell agreements to keep the partnership healthy and functional.
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Avoid 50-50 Deadlock
- Avoid a 50-50 business partnership to prevent deadlocks.
- Give one partner control (51%) even if they own slightly less to enable decision-making.
Control Trumps Ownership
- Control, not ownership, is the ultimate source of power in business.
- The most influential people wield control over assets even if they don't own them outright.
Must Have Operating Agreement
- Get a signed operating agreement immediately when forming a partnership.
- Clearly define roles, responsibilities, and consequences including equity forfeiture for non-performance.