71: Cash In Your Reality Check

Business Unusual with Barbara Corcoran

Barbara Corcoran

Entrepreneurship, Careers, Business

4.8 • 1K Ratings

🗓️ 15 October 2019

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Whether it's a start-up or a well-oiled machine, your business might need a reality check. In this episode, I talk to two women who face vastly different issues. Janel wants to split up a partnership due to contrasting core values with her partner, while Lisa's got a rock solid idea with zero feedback. So how do they both move on successfully? Tune in to find out! Got a question for me? Call me at 888-BARBARA or tweet me @barbaracorcoran and I just might answer on a future episode - or even call you up to discuss live. Subscribe to Business Unusual with Barbara Corcoran on Apple Podcasts, Spotify or wherever you listen. This episode of Business Unusual with Barbara Corcoran is presented by OnDeck Business Loans (http://www.ondeck.com/barbara).

Transcript

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0:00.0	Hey, this is Barbara Corker, and you are now tuned into business unusual.
0:06.1	And everything you ever learned about business, throw it out the window.
0:09.2	I'm going to tell you the real deal, listening.
0:11.6	Today I'm going to answer all your burning questions about work, life, starting a company,
0:16.6	getting on track, and much, much more.
0:19.8	Be sure to call in to the Business Unusual Hot hotline with your question at 888 Barbara. That's 888
0:27.0	B.A. B.A. B.A. R.A. A. A. A.
0:30.0	But first, we're going to be taking a couple of questions today, some good news and some bad news kind of categories.
0:37.0	From Janelle, who's going to ask me the question, how do I get rid of a bad partner?
0:43.0	Asked all the time, listen in.
0:45.0	And then of course we have Lisa, an army vet.
0:49.0	Before she's even retired, she's starting a new business with all her ducks in a row. I'm going to let
0:55.2	her know she's got the right ducks.
0:58.4	Hi Barbara Corcoran, I have a small personal training studio and have gone into business with a partner so we both work there and I just find that we don't have the same core values, thought process on business or how a business should be run.
1:19.0	And I believe we're at the point that we just need to separate the business. So I wanted to ask you what is the best way to get out of a partnership. We are in LLC, so I know there need to be some legal changes, but I'm not sure how we would go about it and hopefully leaving things on the up and up as well.
1:41.0	Anyways, I hope that makes sense if you can get back with me and answer that. I'd love to hear your opinion. Thanks so much.
1:47.0	So this is a great question because I'd say probably at least a third of the businesses I invested in on
1:55.2	Shark Tank are partnerships that I love them. I always feel like they had two for
1:58.8	the price of one, but that being said the great majority of them don't work out within a year. So I don't think the
2:05.4	track record for partnerships is necessarily very good overall in business. However, I'm a
2:11.8	full believer in them and let me tell you why because most
2:15.0	businesses that our partnerships would not have started without the help of each
	...

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