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Starting your own business is never easy. Statistics show that 50% of new companies fail within the first year, and in 5 years an incredible 95% of companies fail.
People often envision being their own boss as being both easier and better than working a regular 9 to 5 job but working for a company and building a company are two different things.
Bill Gates and Michael Dell started and built up their companies from the ground up into multi-bullion dollar enterprises but they are the exceptions, not the rule.
Very few people have the know-how to do everything that is needed to grow a company. Most companies succeed because of their team.
A business is not just a single entity but rather one made up of a variety of different factors; product creation, sales, marketing, management, training, accounting, and much more.
That’s why some people choose to get a partner or partners that help complimentary each other.
Though partnerships can help people enhance their results; both good and bad.
I could spend days talking about all my experiences but here are 5 videos that encompass the most important lessons I learned (the hard way).
Following the advice contained within these videos will save you lots of frustration and sleepless nights if you are thinking of working with a partner.
Get a contract
Run it like a business
Know your skill set