Why You Should Bring On A Junior Partner

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Hey, everybody, Rick Lau here. You're gonna love this episode. Does it make sense to actually have a junior partner or a business partner that has equity in the business? Skin in the game. Check it out. You're gonna love this with Paul Moon. Yeah. And Paul, if you think about over the years, what was the trigger for us to actually bring on all these junior partners? You would say, right?

Yeah. I mean, like, we were growing so fast. Right. There's just not enough time to do everything. And what we also noticed is that, you know, if you don't have someone, let's say you have multiple locations. If you don't have someone on site that really cares about the business in a way that's like, you know, not an employee, but, like, as a true owner, then you don't get the same results. You get way better results when you have someone who has skin in the game at that location. Right. So definitely, I think, for me, anyways, that was a big reason why we brought on junior partners.

Yeah. And what's interesting is when I think about, like, that was the latter stage of our career in the very beginning, I would say the main reason why we brought in junior partners was we were scared of our superstar actually quitting on us. Right. You know, like. Like, because they had ambitions of Santa but clinic. So the best way was like, hey, look, why don't you become a junior partner? And then this way you will quit on us. Right.

You know?

You know, you're fearful that your superstar clinician may lead you, so you want to hook them in before they actually leave, you know, because for me, I remember the first time I did this. Like, I was. I think a lot of the mistakes we made over the years was like bringing on a junior partner for this specific reason. Paul, would you say so? Yeah.

And sometimes. Sometimes they were just not the right junior partner either. Right. So understanding what makes a great junior partner is a really key part of this process. But, yeah, some superstars are going to be amazing junior partners. Some are not.

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