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In this video, Mike discusses the importance of having a clear partnership agreement when entering into a business partnership. Drawing from his experience as both a sole owner and partner in various companies, he emphasizes the necessity of specifying each partner's roles, responsibilities, and accountability within the partnership. He notes that unclear roles often lead to disputes, with partners feeling that others are not fulfilling their obligations. Mike highlights the reality that, despite partnerships being viewed as equal relationships, someone needs to take on a leadership role to ensure effective management and accountability.
