The Dos and Don’ts of Forming a New Business Partnership
The email read like a tome, a sobering account of my shortcomings as a co-founder. I felt the pinprick of sweat in my armpits, the knots forming in my abdomen as I read the scorching epithet. My business was ending and so was our friendship.
Partnership is not a posture but a process — a continuous process that grows stronger each year as we devote ourselves to common tasks. — JFK
It’s easy to be reckless when starting a business with a friend. You have nothing but high hopes and good intentions, dreaming about the fun you’ll have and the money you’ll make, the stars in your eyes so dazzling and bright you’re sufficiently blinded to the risks.
I started my first business six years ago. A small food truck selling grilled cheese sandwiches named What Would Cheesus Do? I was terrified for many reasons and I felt that sharing the terror with a partner would mollify some of the fear. If it all went down in flames, at least we could clutch to one another as we witnessed the conflagration. More practically, I’d have someone to lean on when my determination faltered or the stress of it all felt too much. I also wanted someone whose experience and talents complemented my own, making for a more balanced team. I…
