Deal With the Details First To Make a Partnership Work
| December 3, 2007 |  View for printing |
Swept up in the excitement and all the expectations, many people jump too hastily into relationships. And the result often isn't pretty.
That's just as true in business relationships as it is in personal relationships. Too many people think they know a friend or colleague well enough to start a business together, only to discover they don't.
The key to success is as simple as it is complex: homework. Prospective partners need to work out a host of details before they take that fateful step. And they need to consult professionals in drafting a contract that spells out how everything will work, and what happens if it doesn't.
"Today always looks good," when partners start out, says Mark Stevens, a business consultant and president of MSCO, a marketing firm based in Rye Brook, N.Y. But for a partnership to work, he says, you have to plan for "tomorrow and the day after."
By Shelly Banjo
From The Wall Street Journal Online
Full Story: http://www.careerjournal.com/myc/suc ... ontent=mail
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