Guest: Anna Kelley
In this episode, Anna shares her expertise on:
- When you want to grow a business with the same partners versus do deals with a variety of partners
- Why investors are more comfortable when more people are involved
- How to identify what you, personally, need in a partner
- 3 things you need to know about yourself before you can decide on a partner
- The wrong way to get into a partnership
- How partnerships can be structured, different ways JV’s can work depending on how many partners
- Why “Hey I like you, you like me, let’s figure out how to partner together” is a bad idea & can lead to catastrophe
- Should you expect a partner to contribute financially to running a business?
- Why you can still do deals together even when you’re not on the same page
- Red flags to watch for when going into a partnership
- How & when to listen to your gut
- When is it better to NOT do a deal?
- What type of person is best to continue alone? Who are partnerships for?
- The series of questions to ask yourself & potential partner first
- When you’re a good fit, but still shouldn’t work together
- What to say to squelch a partnership without saying “I don’t like you / want to work with you”