Why Our Business Partnership Still Works 14 Years Later: Our Compensation Structure & How We Guard Against Partnership Killers
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In today’s episode, we’re continuing our special partnership discussion with guest/co-host, Fred Weaver on Group 46:10 and how the heck we’ve been working together for 14 years. In the last episode, we talked about how it all got started, and today we’re going to dig into the details and the economics of the business, and how we guarded against the things that cause rifts to develop right from the beginning.
All business partnerships start out with the best intentions, but can easily turn sour when key details aren’t hammered out right from the beginning. How money is distributed according to who generates the revenue, how duties and responsibilities are split up, and how to maintain the same vision. These are some of the biggest reasons why partnerships go wrong.
When we started working together, we wanted to guard against these things in advance, but ultimately, our partnership has worked for one key reason - the belief that we can go further together than we would apart. Today we’re going to dive into the nuts and bolts of our partnership - money, division of labor and how we supported the growth of the partnership.
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