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In this video, Mike discusses the importance of having a clear partnership agreement when entering a business partnership. Drawing from his experiences as both a sole owner and a partner in various companies, he emphasizes that it is crucial for the agreement to outline the specific roles, responsibilities, and accountabilities of each partner. He notes that a common issue arises when partners lack clearly defined roles, leading to confusion and disputes about each other's duties. Mike stresses that even in partnerships, someone needs to take on a leadership role to ensure accountability and effective collaboration.
