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Partnerships can significantly benefit companies, but without proper organization and management, they may fail regardless of initial potential. The most enjoyable and rapidly growing businesses I've initiated were with partners, regardless of stock divisions. I always treated my partners as equals, harnessing collective ideas to achieve swift results. Establishing basic rules is crucial to preserving a strong partnership. However, I faced expensive lessons from two previous partnerships that taught me invaluable lessons I wish to share to help others avoid similar pitfalls. Learning from my experiences can save you from costly mistakes in your own business endeavors.
