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Building A Successful Business Partnership

Posted by Admin | 6 years ago | Filed Under Entrepreneurship


Mr. A and B have been friends for a long time and what brought them together were their kids who were best of friends.

After three years of friendship, they decided to develop a business partnership and their plan was to establish a company that will majorly deal in the production of soaps but Mr. B was a bit sceptical. He was not quite sure if the friendship was strong enough for them to form a business partnership.

Although they both have a passion for soap making, Mr. B cherished their friendship so much and did not want any conflict that may arise from their business partnership. How then can we help Mr.B?

It is advisable that they both have a successful history together before founding a company. They can also decide to work on small projects together or spend a lot of time together before agreeing to do anything.

They also need to decide on important things like profit sharing and on major operations of the company and should not allow their friendship to stop them from making difficult decisions.

They also need to clearly identify roles within the partnership and business and have sustainable plans that can guide business operations.

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