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Partnerships can significantly benefit a company, but without proper organization and management, they are likely to fail, regardless of their initial potential. The most successful and enjoyable companies the speaker created involved partnerships, often treating partners as equals regardless of their ownership stakes. Collaborative efforts often yield rapid results. To maintain a strong partnership, it's essential to establish basic rules. The speaker shares that they experienced costly lessons from two partnerships that taught valuable insights, which they aim to pass on to prevent others from facing similar challenges. Learning from others' experiences can save time and resources.