Thread: Pro's and Con's of a Partnership

What are the Pro's and Con's of a Partnership?

My friend and I are both going into the construction field and in 12-15 years would like to start our own company.

But I am starting to think it may not be a good idea to go into business together. Mainly because I don't want something to happen at work that could ruin our friendship.

If you're doubting it already don't do it.

Friendships and business don't mix.

Every partnership always ends with someone getting bought out. Usually from disagreements. Like the above post. Friends and business don't mix. You'll lose one or the other in most cases.

Pros:
1. More cash flow
2. Allows for expansion (see #1)
Cons:
1. Each has their own opinion of how things should be done
2. Partnerships are for someone who can't afford the business on their own (most cases anyway)
3. Usually end bitter

Aren't you like 16? How do you know you'll even associate with this person in 15 years?

Originally Posted by Dr. Handsome

Aren't you like 16? How do you know you'll even associate with this person in 15 years?

No I'm 18... Just graduated.

And he has been my best friend since pre school.

Pretty sure ill still be associated with him in 15 years.

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I should have elaborated a little more. A lot can happen in 12-15 years. You are young and have a tremendous amount to learn about business and friendship. I doubt you will even be considering construction around that time. But I wish you luck in your future endeavors.


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Originally Posted by Bigdaddy

I should have elaborated a little more. A lot can happen in 12-15 years. You are young and have a tremendous amount to learn about business and friendship. I doubt you will even be considering construction around that time. But I wish you luck in your future endeavors.


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What makes you think I won't even be considering construction in 15 years?

Just curious.



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Always good to have a goal in mind. 12-15 years away I wouldn't be concerned about partnerships. Keep in mind YOU will always have a partner in some sort of way especially in the construction business. That has been my experience.

Work your butt off and learn everything you can. Don't just rely on learning the building side of it.

You've been on this earth just a tad over 15 years. Times, likes and things change dramatically in that time. Set realistic goals and work your butt off to reach them. But at 18, a partner in business 15 years from now should not be of concern. You may find that construction is not the field you want to be in.


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I think you're thinking of this a bit too early... It'd be like me saying "Man, I'm worried about the service costs for the GTR i'm going to buy in 5 years."