"You probably think you work harder than your partner does, and your partner's reading this thinking that they work harder than you do…” Today, Alex (@AlexHormozi) talks about the challenges of partnerships in small businesses and the importance of clearly defining roles. He advises against partnerships and suggests that entrepreneurs should develop all the necessary skills to operate a small business or hire someone to do it for a fraction of the cost of a partner.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:16) - No clarity of roles in partnerships leads to issues.
(3:11) - Clear division between entrepreneur and integrator is necessary.
(5:14) - Clearly defined roles are key to success in partnerships.
(7:25) - Define tasks and acknowledge strengths/weaknesses for success.
(10:24) - Small businesses require fundamental skills.
(12:26) - Establish buyouts early on to avoid conflict.
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