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Partnerships can greatly benefit a company, but without proper organization and management, they are likely to fail, regardless of initial potential. The most successful ventures often involve partners, where treating them as equals—regardless of their stake—can lead to rapid progress. It’s essential to establish basic rules to maintain a strong partnership. However, the speaker shares two costly lessons from previous partnerships that they learned from, encouraging others to avoid similar pitfalls by learning from their experiences rather than facing them directly.
