How To Avoid Bad Partnerships | Ep 278

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 16 February 2021

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s better to recognize an error early than never. Today, Alex (@AlexHormozi) breaks down the roles of each partner, and how to know whether or not it’s a smart decision to pursue the partnership depending on your situation.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(1:53) - 1st reason: If you’re starting out, it’s better to not have partners & 2nd reason: Don’t accept it if there are no terms or agreement (contract)

(4:24) - The 3 pillars of a business: acquisition, product, and operations. Make sure that if you do get into a partnership, your partner has one of these pillars

(9:26) - the reason most businesses stay small is that they think small and they act small

(12:07) - Bonus fact: Alex noticed that usually married couples who start a business together usually last longer

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Transcript

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0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs, make more money, feed their families,
0:10.9	make better products, and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.4	The single thing that I have to do is leave review.
0:21.9	I'll take you 10 seconds or one type of the thumb.
0:23.9	It would mean the absolute world to me.
0:25.2	More importantly, it may change the world of someone else.
0:28.2	The only reason for you to have a partner is because they either have money or skills that you do not have.
0:33.4	Welcome to the game where we talk about how to get more customers,
0:35.6	how to make more customers, how to keep them longer,
0:37.6	and the many failures and lessons we have learned along the way.
0:40.1	I hope you enjoy and subscribe.
0:42.4	What's going on, everyone?
0:43.6	I have been known as the partnership killer.
0:47.5	And so what I want to share to you with you today is something that comes up on, I mean,
0:51.8	every week on coaching calls with younger entrepreneurs, younger business owners,
0:55.9	not even younger, just other business owners, who aren't doing as much and who want more.
1:01.0	The question is, usually one of two things.
1:03.2	First is, what should our roles be within our partnership?
1:06.8	And then, two, what do you think of partnerships in general?
	...

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