What a Match!Feel like your business is missing a key element? Finding a good partner could be just the thing to complete the picture. Here's what you should keep in mind if you want to make a partnership click.
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Jeff Olson startedVelocity Business Publishingin 1997 with onepartner and soon took on another. For the next five years, thebusiness grew, sales increased and the partnership prospered. Butthen sales slumped, the business struggled and the partnershipcracked. The 46-year-old entrepreneur bought out his partners inthe Middlebury, Vermont, publisher in July 2003 and now says,"I'll never go into a partnership with anybody again.I'm going to be in charge of my own thing."
Olson's experience is one that many people consideringstarting a business need to hear about. Lured by the promise ofcompanionship, the hope of sharing financial and decision-makingburdens, and the potential for synergy with someone who hascomplementary talents, entrepreneurs by the millions decide thatstarting a business with a partner is far better than going italone.
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