Drone Business | How to Form Business Partnerships

Today's question is about the Pros & Cons of forming business partnerships in your drone business. How do you protect yourself, especially if a business partnership goes sour?

Our caller, Ana, a drone business owner is wondering if she can potentially partner up with other drone service providers and surveying companies to grow her drone business. Cautiously optimistic in her approach, Ana is well aware of the negative repercussions in case she ends up partnering with the wrong person/business.

Great question, Ana. It would be a colossal mistake to form business partnerships without formal contracts and iron-clad revenue sharing agreements. But, how do you vet a potential partner, and work with someone who is in perfect alignment with you? Can a drone service provider expect to form synergistic business partnerships with traditional surveying companies, for instance? And, are formal business partnerships the only way of collaborating with other businesses?

This show will be particularly interesting to drone business owners with pre-existing business partnerships. Thanks for the great question. Fly Safe!

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Timestamps

Today's question is about forming business partnerships in a drone business

Pros & cons of business partnerships to grow your drone business

How do I structure a contractual agreement with a business partner?

Is it dangerous to form business partnerships with someone who has significantly more resources than you?

How to work out revenue sharing arrangements in business partnerships

Should you insist on auditing your partner's bank statements?

Are you forming synergistic business partnerships that are resulting in added value for everyone?

Are formal business partnerships the only way to work with other people and organizations?

Should a drone service provider partner with up with a traditional surveying company?

Can business coaching help you work seamlessly with your business partners?

Are your business partnerships resulting in a win-win scenario?

How can you vet a potential partner for your drone business