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Expect The Best, Plan For The Worst
This week it's all about business and partnerships and how going into business with others is a little like marriage... We walk down the aisle full of expectations of happily ever after, but things can and do go wrong. How do you plan for the worst in business?
KEY TAKEAWAYS
- Don’t assume that just because you already know someone and have a relationship with them, that going into business together will be a good fit. If you don’t share the same values or ideas about size and scale, then it might not be a match made in heaven.
- The right team is usually a successful team, and the right team has a diverse set of skills. If you’re going into business with someone who has a complimentary set of skills to yours then you’re starting off on the right foot.
- Articles of association is a legal document that outlines the rules and regulations of a company or organisation. These articles exist to explain the details of a company's operations and also include financial records and information about key tasks that a company aims to complete.
- A formal partnership is the same as a limited company's articles of association.
- Things to consider. What are your roles and responsibilities, and if someone doesn't do them, do they still get their share? What happens in the event of someone wanting to leave? What happens if your partner gets ill or unexpectedly passes away?
BEST MOMENTS
‘If I was putting all the effort in why on earth would I want to share in the profits’
‘Do not just rely on a handshake’
‘Have those rose tinted glasses on, but be realistic’
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge on the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
PODCAST DESCRIPTION
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.
View all episodes
By Tracy Cartland-Ward & Dawn WillockThis week it's all about business and partnerships and how going into business with others is a little like marriage... We walk down the aisle full of expectations of happily ever after, but things can and do go wrong. How do you plan for the worst in business?
KEY TAKEAWAYS
- Don’t assume that just because you already know someone and have a relationship with them, that going into business together will be a good fit. If you don’t share the same values or ideas about size and scale, then it might not be a match made in heaven.
- The right team is usually a successful team, and the right team has a diverse set of skills. If you’re going into business with someone who has a complimentary set of skills to yours then you’re starting off on the right foot.
- Articles of association is a legal document that outlines the rules and regulations of a company or organisation. These articles exist to explain the details of a company's operations and also include financial records and information about key tasks that a company aims to complete.
- A formal partnership is the same as a limited company's articles of association.
- Things to consider. What are your roles and responsibilities, and if someone doesn't do them, do they still get their share? What happens in the event of someone wanting to leave? What happens if your partner gets ill or unexpectedly passes away?
BEST MOMENTS
‘If I was putting all the effort in why on earth would I want to share in the profits’
‘Do not just rely on a handshake’
‘Have those rose tinted glasses on, but be realistic’
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge on the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
PODCAST DESCRIPTION
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.