Why Most Business Partnerships Fail and How to Avoid Being Next

Yeah, it doesn't work until it works.

I mean, so it's not to say the partnership could be bad, the person could be good, the person could also be bad.

In some ways, just even lifestyle, economic factors, or even business situations can really challenge or change someone.

And I think one thing that I have found, I've also looked at to see what their tempo and what their economic threshold is because those are very different.

So tempo being, hey, we know we need to call potential customers, right? But are we doing 100 people a day or are we doing 100 people a week or 100 people a month? My point is there's a level of almost like urgency and desire for growth right at different levels on that tempo piece and then also from an economic almost viability in some ways are we trying to optimize for two thousand dollars a month even for potentially the bar some of the other businesses you've been in is it more of a lifestyle business or is it more of growing this into a corporation and even just how those values or visions come to be we talked about initially to then see how much overlap there is in true congruency as opposed to hey do you want to grow a company me too Awesome.

Let's grow it.

Well, hey, I really only want to grow it to make 10 grand a month, right? Versus someone else could be like, I want to grow it to be 100 grand a month and be like the home developer and not really work a bunch, right? But you both are in a mindset of growth.

But again, tempo and economic sort of viability is really the couple things that I've...

Are there other things that...

You really get tactical on for conversations because certainly you can learn to trust someone, right? You talked about your friend around the boat.

Hey, we like each other.

It's great.

Let's do it.

And kind of had some misstep pieces.

So seeing what other sort of tactical things you've really found that have been really life-changing in a lot of ways.

Yeah, a lot of good points there.

I do want to add, if you recall, my partner in the bar business wanted real estate exposure.

I wanted business exposure.

So we have this rent salary structure.

However, once our debt is paid off, we are both equal partners in the real estate and the business.

So he

achieves his goal of getting real estate exposure.

I'm now a partner in the bar, which makes way more money than the real estate, but whatever.

It is what it is.

But now I'm going to change tempo to temperament because if you think about the bar business, it can get very stressful at times when you have to turn people away because you're at capacity.