We continue with day two speaking to Barry Moltz, author of “You Need to Be a Little Crazy”. Barry is a successful entrepreneur who has been kind enough to answer a few questions about succeeding in business.
Q. You stress the need for a good partner and good people since they make the difference in being successful more then any other factor. Do you feel that there is such a thing as to many partners or should you take on as many partners as you need to succeed?
A. I think that you should only take on a partner if they have a complementary skill that is needed by the business to make it better. Do not get a partner because you are lonely. Find a mentor for that. It will be less costly in the long run. Each partner that is brought on makes the ownership structure more complicated and more people have a “Say” in how the business is run. That makes running the business more difficult. When you get into a partnership, think how you will get out as well. Sooner or later, many people’s objectives divide and you will be faced with figuring out how to buy out a partner or split the business. Unless you have the right agreements, both will be difficult.
– Do you want to know what Barry Moltz knows? Of course you do! For a limited time only The Small Business Blog(TM) will have a direct link to Barry’s book “You Need to Be a Little Crazy” on Amazon.com’s website. Go there now before the link disappears and you miss your opportunity. It’s FREE to get there. Just click on the “You Need to Be a Little Crazy” Amazon link on the right side of this page and get your copy today! Do it now, don’t miss out! -ed.