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Partnerships can significantly benefit a business, yet without proper organization and management, they are likely to fail. The most successful and enjoyable companies I’ve started involved partners, regardless of ownership stakes, as I always treated them as equals. Collaborating towards common goals can lead to rapid achievements. It's essential to establish basic guidelines to maintain a strong partnership. However, I learned hard lessons from two previous partnerships that were costly experiences. I share these insights to help others avoid similar pitfalls, as it’s more efficient to learn from someone else's experiences than to face the consequences personally.