Thinking of partnering up? Think again . . . or at least, think carefully.
For every partner story we feature on Side Hustle School, we have at least one that starts as a partnership before dissolving into a one-man or one-woman show. Why? Simply because when it comes to side hustles, almost inevitably one partner will be more committed to it than the other. And if this isn’t the case at the outset, it often changes as time goes by.
All things being equal, if you have the choice between “owning” your idea completely or sharing it with a friend, it’s better to own it yourself. This doesn’t mean that you don’t get help from others—everyone needs help! It just means that going into partnership can add complexity to a process that should be simple.
Clearly, there are occasions where partnering up makes good sense. Just keep these principles in mind:
- It’s usually best to partner with someone who has different skills and strengths than you do.
- Have a clear, written agreement for what happens if one partner needs to move on.
Following these principles will help you focus on the things that matter—and perhaps avoid unnecessary conflict down the road.
100 Side Hustles
Coming June 4, 2019