(Extracted from Buy then Build by Walker Deibel)
As a longtime member of the Entrepreneur’s Organization, I can share that a large number of issues entrepreneurs have relate to working through conflicts with a business partner. Having unclear, unwritten expectations or assumptions can result in misalignment, which takes the focus off progress. Having a good relationship with clear roles and responsibilities, and compensation attached to performance instead of ownership, can save a lot of headaches. You’ll also want to consider getting buy-sell agreements in place.