Hello , how is today coming?

I know you enjoyed the last email.

So, here are the lessons I promised to share with you in a follow-up email...

Lesson #1. Before agreeing to the partnership do your own private investigation of the persons involved.

Carry out a due diligence check.

People are not really what you think they are or hope they become.

People will always be people so you need to make sure that you are dealing with a good person...

You can do a good deal with a bad person.

No matter how good-intentioned you are, remember this always.

Lesson 2. Choose an entirely new name.

There should be no personal attachment to the name chosen by any of the partners.

This is why it is important to neutralize all forms of emotions and keep everything fresh

otherwise, one person Will always feel entitled to the company.

Lesson #3. Draw up an agreement and unanimously agree on the terms and conditions of the partnership.

This is straightforward.

Let everything be taken from the mind and put down in black and white.

It takes ambiguity away and makes sure that everyone is on the same page.

Lesson 4. Hire a lawyer.

This is very important unless you are playing, then you are just right to ignore this.

Get a lawyer to prepare a comprehensive partnership agreement and explain all the terms and conditions for the business.

And everyone must understand the terms and be on the same page before you start transacting as partners.

Lesson #5. Unless you agree to the contrary, you are deemed to be equal partners with equal shareholding.

If you intend to become unequal shareholders, make sure to clearly state the exact value of the shares in the agreement.

Lesson #6. Know your prospective partner.

Be sure that your partner is someone your mind body and spirit align with.

Let trust be at the forefront of the factors to consider when choosing a partner.

Also, know from the onset what he or she is bringing to the table so that you are not taken by surprise.

Lesson #7. Have an exit plan.

Always prepare for a rainy day.

what happens if someone decides to back out of the agreement?

What measures are in place to ensure that a partner does not just walk out on the partnership?

these and more similar questions must be clarified.

The dynamics of online business is that you do not have to meet in person to do business or become partners but still do the needful...

 your business will thank you for it.

What lesson stood out for you here?

Do you think you need help with your partnership business?

Let's talk...

I personally respond to every reply.

Barinaada.