Built to Sell Radio
Ep 409 Minority vs. Majority Partners with Mark Ferrier
Sep 29, 2023
Entrepreneur Mark Ferrier shares his journey in the marketing agency world, including a $2 million lawsuit with former partners. Topics discussed include navigating partnership challenges, dynamics of majority and minority partners, complications of leaving a business, experience with different partners and corporations, protecting core aspects of a business, and understanding partnership structures in service businesses.
50:29
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Quick takeaways
- Clear communication and alignment are crucial in maintaining a successful partnership in the marketing agency world.
- Managing relationships and protecting your reputation are essential when facing legal challenges in the service-driven industry.
Deep dives
Mark Fairier's Journey in the Marketing Agency World
Mark Fairier shares the story of how he got started in the marketing agency world by joining a business as a minority partner. He worked hard to grow the business and faced challenges related to equity and partnership dynamics. A rift occurred with his partners, leading to a lawsuit. Mark reflects on the importance of clear communication, alignment, and managing relationships in a partnership.
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