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  • Jonathan's coming with a very soft clap, the very gentle clap, the very soft clap. Somebody has to explain to me what the hell that means.

  • Hey, it’s Marie Forleo and you are watching MarieTV, the place to be to create a business

  • and life you love. And this, yes, today, this, is Q&A Tuesday. And today’s question comes

  • from a lovely lady named Natalie, and Natalie writes:

  • Hi Marie. First off, I love, love, love your show. You are so funny and fun.” Thank

  • you so much. “I have a Q looking for your A. I’m a holistic health coach. I just graduated

  • last week and I’m officially starting my business this October. I’ll be moving to

  • Los Angeles from Seattle and I’m thinking of getting into business with my best friend,

  • who is also a health coach, and currently lives there. We both bring different things

  • to the table. I’m big into marketing and PR, and he already has a network in LA and

  • is a social media maniac. I just don’t want to dilute my brand before I even get going

  • by teaming up. Is it ever a good idea to team up right at the start?

  • I also know our work ethics aren’t exactly the same. I’m a super Sagittarius and when

  • I want something I go after it full force. He’s less ambitious and has already told

  • me he plans on working less than 6 hours a day. I love him and I wanna work with him,

  • but not sure if teaming up is such a good idea. If we do team up, do you have any suggestions

  • of things we should discuss before making this partnership official? And if we don’t,

  • do you have suggestions for other ways we can work together? Thanks so much. So lucky

  • to have stumbled upon MarieTV. XO Natalie

  • Natalie, that is a fantastic and very big Q that we are gonna A the crap out of right

  • now, so strap yourself in.

  • Here’s the deal, most people jump into business partnerships way too fast and they wind up

  • paying the price for it down the road emotionally and financially.

  • You asked if it’s a good idea to ever partner up as youre getting going. Now, of course,

  • there’s a lot of businesses that are very successful that have been partnerships from

  • the get go. And there’s a lot of other businesses who have partnered up in the beginning and

  • have blown up and have gone terribly wrong. So the thing you need to ask yourself is this,

  • do you wanna partner up because you really wanna partner up? It’s the best thing to

  • do? Or are you afraid that youre not gonna be able to make it on your own?

  • Based on how you asked your Q, I think you already know the answer to this one, that

  • partnering is not such a great idea in this circumstance. But, let’s dig a little bit

  • deeper because I saw 2 red flags in your question.

  • Red flag number one, different work ethics. So, getting any business off the ground takes

  • an enormous amount of work over an extended period of time. So 12 to 16 hour days, especially

  • in the beginning, are not uncommon. You told me that your friend is a little less ambitious

  • and that he’s only planning on working less than 6 hours a day, God bless, and youre

  • a full forced kind of gal. So right off the bat, that’s a huge red flag and I don’t

  • think that that would work out very well.

  • Second red flag is diluting your brand. So one of the things that you mentioned is that

  • you wanna build your own personal brand. Now, if you partner up right from the get go, youre

  • not really building your brand, youre building the partnership’s brand. And that can be

  • a really difficult thing to extract yourself from later down the road. So, if youre

  • truest desire is to build your own personal wellness brand empire that’s based around

  • you, again, I would not suggest partnering up right at the beginning.

  • So you also asked that if you guys do team up, do I have any suggestions about what you

  • should discuss before you make the partnership official? And, oh Lord, do I! Here’s the

  • thing, if youre gonna go into partnership with anyone, you need what I call a business

  • prenup. This is a legal document that explains exactly what’s gonna happen if one of you

  • wants to leave the partnership or, God forbid, one of you dies.

  • Here’s something I want you to remember, and yes, it’s a tweetable.

  • The best partnerships handle the worst case scenarios in advance.”

  • You have to think through the worst case scenarios in advance. Just like intimate relationships,

  • at first everything is awesome. Everybody loves each other and youre like, “Oh,

  • were never gonna disagree about anything.” But even in the best relationships, challenges

  • come up. And, yes, sometimes you want to leave or you want the other person to leave.

  • So if that day comes, you both need to understand exactly how to deal with:

  • The assets of the business - How will you split profits and handle liabilities? Who

  • gets ownership of your customer list? Mailing list? Websites? Intellectual property? Any

  • equipment? The processes and systems youve built? The graphics, branding, photo assets,

  • etcetera?

  • You have to have all of this agreed upon from the get go. It’s the responsible thing to

  • do for your business and for your friendship.

  • Now, here’s the thing Natalie. You and your friend can still leverage each other’s strengths

  • to help grow your businesses without going into business together. One idea is you guys

  • can just mastermind. You can meet up once every 2 weeks, you spend an hour working on

  • his business, devoting all of your best ideas to help him, and then you switch and you guys

  • spend the next hour working on your business and he helps you. Another option is for you

  • guys to send each other the business overflow. So if youre fully booked up, you can send

  • him clients and if he’s fully booked up, he can send you clients.

  • So, Natalie, that is my A to your Q. Thank you so much for asking it. Good luck on your

  • new life in Los Angeles. Please let us know how it goes.

  • Now I wanna hear from you. Have you ever gone into business with a friend? Did it work?

  • Or not so much? Either way, I bet youve got some valuable lessons, some do’s and

  • don'ts that you wish someone wouldve told you at the get go.

  • As always the best stuff happens over at MarieForleo.com, so go there now, leave me a comment, and tell

  • me all about it.

  • Did you like this video? If so, subscribe to my channel and share it with your friends.

  • And if you want even more awesome resources to create a business and life that you love,

  • plus personal insights from me that I just don’t share in video, get your butt over

  • to MarieForleo.com and sign up for email updates. Theyre awesome.

  • Stay on your game and keep going for your dreams. The world needs that special gift

  • that only you have. Thank you so much for watching and I’ll see you next time

  • on MarieTV.

Jonathan's coming with a very soft clap, the very gentle clap, the very soft clap. Somebody has to explain to me what the hell that means.

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Business Partnership

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    姚易辰 posted on 2016/07/05
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