Having a partner in business can certainly have a lot of advantages.
Not only do you have someone to help do the early “startup” work but they can also help split the initial financial investment to allow more room for growth.
My identical twin brother was my first business partner in the early 2000s. He handled the content (writing and hiring) and I handled the development and marketing.
This worked out really and was the catalyst behind much of our early growth.
Over the last decade, I’ve had multiple other business partners that have allowed me to grow my companies to where they are today. I’ve been very blessed.
While there can be many benefits to having a business partner, it can also be challenging at times. Not only do you split the duties but you also have to split the profits that come in. Meaning you have to make twice as much to sustain some revenue goals.
In this week’s podcast I talk about my experience with business partners and what you should consider when you’re starting your companies.
You can listen using the player below, but also make sure to subscribe on iTunes so you won’t miss an episode!
Ryan Gray is the founder and CEO of NameHero, one of the fastest growing independent web hosts in the United States. Ryan has been working online since 1998 and has over two-decades experience in Internet Entrepreneurship.