Comments on: Will You Be My Business Partner?

By: Mike Mulhall

Mike Mulhall — Mon, 19 Apr 2010 06:53:04 +0000

Great points Perry. Those are definitely two things you can’t learn in books, you have to experience them. I can vouch for the 1% rule.

So are you the 49% partner in your marriage? Ha ha

By: Perry Roumbos

Perry Roumbos — Sat, 10 Apr 2010 22:32:27 +0000

Two thoughts on this topic.
In a marriage, there never really is a 50 / 50% relationship. In decision making, one should make the final say; otherwise you won’t get far when one person says yes and the other says no. It should be a 51% and 49% relationship where that one percent gives you the final say.
In comparing marriage to a business partnership, the same applies. One partner makes the ultimate decision when there is a disagreement. It should be agreed upon as to who gets that “1%” before a partnership should begin. That 1 percent is granted to the owner for whichever reason decided ( experience, monetary commitment and/or stability etc.

Here is my second thought. When picking a partner, you are basically picking your boss. In one way or another you are held accountable to this person. So try to pick someone you could work for because in many ways you are working for this person.

By: Mike Mulhall

Mike Mulhall — Sat, 10 Apr 2010 07:39:13 +0000

Thanks Sunny…and that’s great advice as well!

By: Sunny Wang

Sunny Wang — Wed, 07 Apr 2010 00:09:37 +0000

I couldn’t agree with you any more. I have been there a few times. One thing you have to keep in mind that you have to make sure that your partner is as hungry, driven as you are. Stay away from people who give up easily. They are waste of time and it’s a blow to your confidence at the same time.

Good stuff Mike! Keep it up!