Don't Go 50/50

In 2016, I started a social media management business with my cousin. We went 50/50 on it. A little over one year later, we stopped working together. 

My friend and his friend started an ad agency together. They went 50/50 on it. A little less than one year later, they stopped working together.

I started working with my friend on his video business in 2017. He owns 100% of it. Four years later, we’re still working together. 

Why is going 50/50 a bad idea? Because no one has final decision-making power. What my friend experienced in his ad agency is the same thing I experienced with my social media business–decisions we’re painstaking, and they took forever. That’s no way for a business to run.

If only for the efficiency’s sake: if you start a business with a partner, go 51/49 at the very least.

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