Aaron Walker Live From The Greenway!

10 Tips On How To Create A Great Partnership

Posted by Aaron Walker on Jan 13, 2021 9:00:00 AM


I have had about a dozen partnership over the years of me doing business. Don't let people stop your dreams when they tell you that partnerships don't work. That's not true! If they are carefully planned and structured. There has to be an operating agreement!


Here are some tips and things you need to consider so you can create a great partnership.


1. What is the business evaluation formula if we decide to sell? Deposit/length of time/interest rate/etc ( This should be a price that dissuades the partner to sell, not rewards him)
2. What if one partner develops a competing product? Does this negate the partnership? I suggest a length of time for a no non compete.
Who owns the product and platform if you dissolve? What happens if one partner dies?
3. Do I have first right of refusal if the other partner wants out? Will the same evaluation formula be used? Historically, you are penalized when leaving prematurely. This always encourages the partnership to remain in place. It keeps each partner from plotting an early exit. Keeps everyone honest.
4. If a cash influx is needed from the partners are you agreeing to bring your % equal to your ownership %? How much time is allotted for your contribution? What is the plan if the partner says I don’t have or do not want to contribute additional capital?
5. How will the profits/proceeds be distributed? This is a big concern. I suggest a % be distributed and a % be reinvested back into the business. Don’t establish a dollar amount, it always changes as the business grows.
6. When will profits be distributed? Monthly/Quarterly/Annually?
Your needs will always be different. A formula for distribution of profits needs to be in place regardless of your needs. Never distribute based on needs of the partner, this will cause hardship and confusion. Distribute on a schedule.
7. What is the job role/responsibilities, of each partner? Write them out.
8. What is the process if the partner falls on hard times and wants to sell? Non elected, forced ( Bankruptcy, divorce, health, etc..) Formula for evaluation/terms/first right?
9. Is there a dispute clause if you reach an impasse? Or, majority owner holds the red button? This could be a phased approach. 1. Owners decide 2. Trusted advisors decide ( predetermined) 3. Arbitration
Where will the partnership be incorporated?
10. There should be a vision/mission/core values.


You cover these big topics and your future life will be much better, I promise.

 

 

Topics: Business, Accountability, Business Coaching, Balance, Success, Significance, Priorities, Blueprint, Preparation, Discipline, Clarity, Decisions, Crossroads, Wisdom, Encouragement, Guide, RoadMap, Communication, Growth, Perseverance, Execution, Obstacles, Evaluation

Self Evaluation Can Be Painful.

Posted by Aaron Walker on Jan 1, 2021 9:00:00 AM

Do you have the courage to do self evaluation?

Do you listen to the people that know you best?

Take some time. Do a self evaluation. Then let other people evaluate you, too! 

 

Topics: Life Coaching, Character, Success, Significance, Priorities, Tips, Blueprint, Clarity, Development, Burden, Wisdom, Encourage, Guide, RoadMap, Growth, Advice, Authenticity, Attitude, Expectation, Expectancy, Evaluation

You Can't Trust Your Feelings

Posted by Aaron Walker on Dec 21, 2020 11:10:23 AM

Do you have the confidence that you can be the best at what you do? If not, don't trust your feelings but listen to what I have to say.

 

Topics: Accountability, Character, Masterminds, Success, Significance, Faith, Priorities, Move Forward, Blueprint, Clarity, Development, Decisions, Crossroads, Encourage, Encouragement, Leadership, Guide, RoadMap, Growth, Determination, Advice, Experience, Belief

Your Personal Belief Has Everything To Do With Your Experience.

Posted by Aaron Walker on Dec 18, 2020 9:00:00 AM

Whether you will become successful or happy (or vice versa) with your life, it has something to do with your experience and belief. The 2 can make and break you. You can either use them positively to propel you to the next level or be left mediocre of all sorts. 

 

Topics: Motivation, Character, Balance, Success, Significance, Priorities, Move Forward, Clarity, Development, Self Development, Decisions, Crossroads, Encourage, Encouragement, Guide, Growth, Determination, Authenticity, Attitude, Truth, Obstacles, Experience, Belief

How To Be A Servant Leader In Your Family

Posted by Aaron Walker on Nov 27, 2020 9:10:31 AM

Leadership is a topic that is usually discussed in a business or work context, but today I want to talk to you about leadership within the family. Let me share my thoughts with you on how you can be a ‘Servant Leader’ in your family.

The word ‘Servant Leadership’ makes some of us uncomfortable because it sounds like we are being asked to act as a doormat for other people or as if we are being asked to play the role of ‘the nice guy’, who is weak and taken advantage of by everyone.

But that is far from the truth. Servant leadership is about being a real man. It is one of the most powerful forms of leadership where you serve your family with unconditional love, going the last mile for your wife, exercising authority with compassion, putting your family’s needs ahead of yours, taking leadership decisions without thinking about your own agenda, doing the right things that need to be done and leading your family to a good place.

More on this at http://www.viewfromthetop.com/blog/how-to-be-a-servant-leader-in-your-family

 

Topics: Life Coaching, Motivation, Accountability, Character, Marriage, Family, Community, Relationships, Success, Significance, Priorities, Tips, Podcast, Discipline, Clarity, Development, Decisions, Wisdom, Encourage, Encouragement, Lift Someone Up, Be An Encouragement, Father, Growth, Determination, Advice, Servant

v

Profit First Mike Michalowicz Book of the Month ISI mastermind

Mastermind Blueprint How to Build a rich life

Subscribe to Email Updates

25 questions every man should answer to go from success to significance

Recent Posts

The Steps for Men to have a more productive day
.

Posts by Topic

see all
Free Personal Assessment for Men