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Hot Management Tips ...
Building Effective Stable Partnerships ...
Here’s how to build stable partnerships: Experienced business owners recommend the following points:
- Set aside at least one meeting to discuss the personal ability of each partner to persevere through periods of reduced income.
- Allow complete equality in company gains.
- Come to an agreement on all potentially divisive issues. Do this well before facing the situations. Consider discussing: ethics, risk-taking, money-management and any other controversial points.
- Discus the extent that each party is willing to make sacrifices for the business.
- Discuss how much of themselves each party is willing to contribute to the good of the business.
- Agree on how you will dispose of the profits. Do this in the cool and rational light of poverty, rather than in the excitement of success.
- Get all agreements and decisions in writing. Keep all business dealings transparently honest.
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