Codie SanchezFounder @ Contrarian Thinking

#1 Thing you should know before starting a business #shorts

10 May 2022 · 0 min

Watch on YouTube

0:26

Short YouTube clip (Codie Sanchez) recounting a costly mistake: entering a 50/50 business partnership. The speakers warn that equal partnerships commonly break down (compared analogically to divorce), can be financially damaging, and advise against 50/50 splits — recommending instead a single, decisive leader or 'benevolent dictatorship' with others 'along for the ride.'

I made a huge mistake in one.
Of my businesses that.
Cost me something.
Like a million bucks.
And it's the number one thing that.
I think people should know before they start a business and.
That I wish I knew. I don't think you should ever, ever, ever if you didn't.
Hear me in the back. Do a 50% partnership.
Should you even get.
A partner in your business? I mean, the answer is no. 99.9% of the time.
No. 50% of.
Marriages end in divorce.
And I'd assume almost 99% of business.
Partnerships end.
With people doing different things. Investors, employees.
Co workers, minority partners.
All Those are awesome. 50, 50. Never bet on yourself. Instead, people along for the ride. But it's a benevolent dictatorship.
Not a democracy.