Many people compare business partnerships to marriage. But they’re just not the same. Business partnerships are harder. It’s true: some 50–80% of partnerships fail in the first few years.
10 Questions to Ask Before Entering a Business Partnership
You can save yourself immeasurable pain down the road by asking these tough questions early.
August 18, 2023
Summary.
For many, a successful business partnership is among their most positive and significant relationships. Good partners can have a lot of fun together, become intertwined in one another’s success, and be great friends through life’s ups and downs. Overall, it’s worth taking the risk. It’s also worth being prudent and intentional at the outset so that you can immunize the partnership against future problems or end a flawed partnership before it begins. In this article, the authors outline 10 questions to ask early to save yourself immeasurable pain down the road.
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Business Case Development. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Make your next business case more compelling.