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Partnerships can be incredibly beneficial for a company, yet without proper organization and management, they can fail despite strong beginnings. The most enjoyable and rapidly growing companies the speaker has started involved partners, treated as equals regardless of their ownership stakes. Collaborative effort towards a common goal can yield impressive results. However, it’s crucial to establish basic rules to strengthen the partnership. The speaker shares lessons learned from two costly experiences with previous partners, emphasizing the importance of learning from others to avoid making the same mistakes. It's often easier and faster to gain insights from those who have faced challenges rather than experiencing them firsthand.
