The Entrepreneur Equation Case Study

Have you ever wanted your own business? What type of business partner are you looking for? According to Eric Basu there are 6 questions that should be asked before picking a business partner. First, one should ask whether he or she needs a business partner. Second, the goals of the prospective partner and the owner should either be the same or coincide with one another. Next is the designation of tasks followed by how the conflicts will be resolved. The last two focus on the future of the business and the partnership. It is about what the partners would do if someone intends to buy the business and if the time came for the dissolving of the partnership. Having the need to worry about picking the right partner and at the same time the tiring
A positive side of being partners with one’s consort is that they have more connection and knowledge of each other’s capabilities and qualities. “Hopefully, there is nobody you trust more,” says Carol Roth, author of The Entrepreneur Equation. According to Jeff Wuorio, there is an automatic “trust” since the two have undergone matrimony. Also, since the couple is very familiar with each other’s strengths and weaknesses, they would know what to do to support each other on times of difficulties. The con side of this is that if the partner has an undesirable attitude towards work or has laziness as a habit. Another negative side of this is the possibility of mixing family with work. They are 2 different entities that should be separated, if a line is not properly drawn then both parties would
It is something that is intangible it can come in the form of minuscule details such as the color of the chairs, the type of plant to be placed in the hall or the size of the door knob of the bathroom and substantial matters like who should be hired or fired, where to invest or when is the right time to expand. Having a trustworthy person such as one’s spouse is extremely helpful in these type of situation but it can be a double-edged sword. Even though being able to discuss it with someone and hearing his or her idea about the matter can be a good thing, there is still a possibility for a conflict to occur. This is caused by diverging ideas and the incapability to listen and speak to the other