How to Choose the Right Partner to Maximize Your Business - 013
Bedros Keuilian Podcast Show
Bedros Keuilian
5 • 2.2K Ratings
🗓️ 20 September 2017
⏱️ 18 minutes
🧾️ Download transcript
Summary
When you’re looking for a business partner, you’re essentially looking for a marriage. And you wouldn’t invest your life in some total stranger, would you? Many people make the mistake of rushing into a partnership with someone who ends up bringing the business down. Listen to Bedros Keuilian and Craig Ballantyne talk about the importance of choosing a business partner who you’ve built a strong foundation of trust with, and shares your vision for your company’s future.
Here’s what you’ll discover:
1:09 - Why it’s important to really know a person before you start a business partnership to avoid potential turmoil
4:30 - How choosing a partner with different strengths and weaknesses from your own will strengthen your business
7:18 - How Bedros and Craig’s past failed business partnerships taught them how to improve their future, successful partnerships
10:20 - How creating a 50/50 partnership can save you from disaster and resentment
13:17 - How to dissolve a partnership without losing friendships or destroying the business
Transcript
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| 0:00.0 | Where partnerships are concerned now it doesn't matter if it's a 20% 80% or 50-50 |
| 0:05.5 | If you're a business partner with someone I believe and I feel like wholeheartedly here that you have to work like you own a hundred percent of the business. Hey, Hey friends welcome to another episode of the Empire |
| 0:34.3 | podcast this is Craig Valentine my name is Bedros Koolian and today we're |
| 0:38.0 | going to talk about the thing that we are which is partners and partnerships what do you |
| 0:42.4 | say Craigie? We are definitely |
| 0:45.0 | partners. So let's get this thing started since what is it 2010 2011 yeah |
| 0:50.5 | you and I have it? 2010 late 2009 even got it late 2009 you and I, 2010, late 2009 even. |
| 0:53.3 | Got it, late 2009, you and I became business partners |
| 0:55.9 | in the InfoMastermine Group, |
| 0:57.1 | and since then we've become business partners |
| 0:58.8 | and other ventures, and we've had a great working relationship, |
| 1:02.2 | a great brotherhood, and everything's been hunky-dory. |
| 1:05.0 | But as you know and I know most partnerships tend to not work out, so why don't we take a deep dive into partnerships what they're all about what the |
| 1:13.7 | benefits are and what one should do if they're thinking of going into one so yeah |
| 1:17.7 | this is gonna be the good bad and ugly of partnerships because it can get even |
| 1:21.1 | worse than ugly yeah all right so I think one of the most important things |
| 1:26.4 | is that you, first of all, have to know the person pretty well. |
| 1:30.2 | Because that's the problem. |
| 1:31.2 | People jump into partnerships, whether they're business or love partnerships way too fast and there's a lot of analogies and similarities here, but it's just you know if you don't know how someone's going to respond under stress as a business partner or in a relationship |
| 1:45.7 | You get surprised pretty quickly and that's where things get sour and you make a really good point because if you don't know the person really well if they just |
| 1:53.3 | come to you and you maybe know their reputation in the industry and so you think you're just going |
| 1:58.6 | to do business with that person the reality is you're going to do business with their |
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