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In this video tutorial, Mike discusses the importance of having a clear partnership agreement when entering into a business partnership. Drawing from his personal experience as both a sole owner and a partner in various companies, he emphasizes that the agreement should clearly define the roles, responsibilities, and accountability of each partner. He notes that misunderstandings often arise because partners lack defined roles, leading to frustration when expectations are not met. Mike highlights that despite being equals in a partnership, one partner may need to take a leadership role to ensure smooth operations and accountability.
