This Is Why We Tell People To Avoid Partnerships

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5 • 839 Ratings

🗓️ 20 September 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.6	So I own a pool cleaning of repair and resurface company here in Columbia.
0:14.0	I am in a partnership with another guy.
0:18.6	We started the business about three summers ago. I had previous experience with a
0:26.0	pool company here, one of the bigger ones here, and I decided to branch off, you know, do my own
0:31.8	thing, started pretty small. So me and my partner, we started doing, you know, power washing, window washing jobs, partner we started doing you know power washing
0:38.4	window washing jobs pool cleanings you know we didn't have too many clients
0:42.9	probably about 10 to 15 you know fast forward to the why did you need a partner
0:48.0	year at the time so I had, I, technically I didn't.
0:55.1	Okay.
0:55.8	And now you've learned that partnerships are the only ship that won't sail?
1:00.3	Correct.
1:01.1	That's correct.
1:02.6	I'm guessing you two guys did not do anything like go to a lawyer and have a partnership
1:07.6	agreement drawn up.
1:11.0	Initially, no.
1:12.2	That happened later on, and it was pretty much too late by, you know, by the time we did make one.
1:19.2	Why was it too late?
1:20.6	What's happened?
1:22.9	So basically, we started sub-last year, we started subcontracting for this, the pool resurface company that we actually bought.
1:32.7	My partner, he was, it was owned by one of his uncles.
	...

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