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Partnerships can greatly benefit a company, but without proper organization and management, they are likely to fail, regardless of initial potential. The most successful companies often arise from collaborations, not necessarily equal partnerships, as equal treatment fosters teamwork towards shared goals. It's essential to establish basic rules to maintain a strong partnership. The speaker shares experiences from two costly partnerships that provided valuable lessons, emphasizing the importance of learning from others’ mistakes rather than facing similar challenges independently. By doing so, one can avoid unnecessary setbacks and achieve success more efficiently.
