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In this tutorial, Mike discusses the importance of having a well-defined partnership agreement in business partnerships. Drawing from his own experiences as both an owner and partner, he emphasizes that clearly specifying each partner's roles, responsibilities, and accountability is crucial. He notes that without these definitions, misunderstandings often arise, leading to complaints about partners not fulfilling their expected duties. Mike stresses that, even in partnerships where all members are considered equals, someone must take on a leadership role to ensure the partnership functions effectively.
