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199 - Partnerships

Picture of Jordan Nielsen By   ·  1 minute read
In this video, I want to share my thoughts on partnerships. Throughout the journey of Lister Pros, I have had opportunities to bring on partners. At first, a friend of mine wanted to be a capital partner, but I decided to focus on working hard and reinvesting most of the money back into the business. It was a tough decision, but I am glad I did it. The revenue I made went back into building up our signpost inventory, which was crucial to our success in the early days. When I brought on my first employee, I was considering making him a partner because he was a hard worker and added a lot of value. However, I thought it might make the business more complex, so I decided against it. Instead, I paid him a decent salary and made him an employee. There were months where he made more money than me, but I believe it was a wise decision not to make him a partner. Later on, I brought on a good friend who was really experienced in sales. Once again, I considered making him a partner, but ultimately decided against it. While I had great relationships with these individuals, they eventually left Lister Pros, and I'm glad I didn't make them partners because it would have made the transition more difficult. I've never brought on a partner for Lister Pros, and I'm glad I didn't. It has allowed me to do whatever I wanted without having to get approval from someone else. However, I understand that partnerships may be beneficial for others. If you are passionate about the creative side but don't want to focus on the business aspect, it may make sense to bring on a business-minded partner. Alternatively, if you are business-minded, you may want to consider bringing on a creative partner. Ultimately, partnerships are a personal decision, and there is no right or wrong answer. It's important to weigh the pros and cons and figure out what's best for you and your business. Anyways, that's all for this video. Feel free to reach out if you have any questions. #partnerships #businesspartners #entrepreneurship #smallbusiness #startups #decisionmaking #investment #growth #businessownership #businessmanagement #solopreneur #founder #businessdecisions #teambuilding



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