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Partnerships can greatly benefit a company, but without proper organization and management, they are likely to fail despite initial promise. The quickest-growing and most enjoyable companies I've started involved partners, regardless of ownership stakes; everyone was treated as an equal. A collaborative approach enables faster achievement of goals. However, it's crucial to establish basic rules to maintain the partnership's strength. I have experienced two costly lessons from my previous partnerships that I hope others can learn from, as it's more efficient to benefit from someone else's experiences rather than face similar challenges yourself.
