The Inside Track · Issue #6
Who are you really in business with?
We once went into business with a very wealthy person. Their ethics did not match ours. Getting out cost us serious money and a great deal of stress.
The lesson: wealth is not character. Do the due diligence, and know exactly who you are partnering with.
Before you shake hands, check these three things
- Who has worked with them before, and what do they say?
- How do they behave when something goes wrong?
- What does the agreement say about how we part?
(Not legal advice. Involve your lawyer and accountant.)
Free one-page checklist
Want all the questions, not just three? Four parts, about ten minutes: who they really are, what you're signing, whose advice you're taking, and the gut check. It's the checklist I wish we'd used.
If a partnership or investor conversation is on your desk, bring it to a call. Fresh eyes are cheap.
Kevin
Kevin D’Ambros-Smith · Founder, Simple-Growth