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Red flags are important to consider when deciding on a business partnership. In this episode of Investing on the Go, Bill Twyford highlights when partnerships are a good idea and the red flags to look for when they’re not a good idea. Also, Bill shares some of his and Dwan’s firsthand experience with partnerships. Ultimately goals need to align, strengths should differ and work loads should be balanced. In closing, Bill invites you to listen to this episode several times to absorb the information, and kindly leave a five star review for Investing on the Go. Thank you for tuning in!
Thank you Sarah Fortes for listening via Apple Podcasts and leaving the following five star review:
As a new investor trying to soak up any perspective, tips, and routes to lead to a successful career in investing, this is the place to be. I love your advice, unique ideas. Thanks!
:54 Bill welcomes you to Investing on the Go.
1:33 Bill introduces today’s topic: Top 3 Ways to Stay Away from a Bad Business Partner.
2:00 Bill explains the conditions for his partnerships.
3:30 Bill highlights when partnerships are good starting with different skill sets as long as one person is not doing all the work.
4:55 Bill emphasizes that you usually don’t want a partner just like yourself. You want someone that does well with things that aren’t your strengths.
7:09 Bill explains which red flags to look for starting with their schedule followed by moral compass.
9:57 Bill encourages you to put yourself in 1st position to see if you recognize red flags.
11:01 Bill emphasizes to look for people that will work alongside you, not behind you.
12:45 Bill gives an example of goals not aligning.
14:40 Bill said that if you and a partner’s goals do not align, problems will surface very early.
16:10 Bill invites you to email him at email@example.com for a business partnership agreement.
16:17 Bill encourages you to listen to this podcast several times and analyze your own personal situation.
17:14 Bill thanks you for listening and asks you to give Investing on the Go a five star review.
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