Greg Sausaman
MS Management: Leadership and Organizational Effectiveness
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The 6 "Be's" of Owning your Own Business
Choosing a business, and eventually owning your own business is very complex, and often times can be substantially more than we thought. We all watched Cheers, right, so we can operate a successful bar? Some things we have learned along the way can be summarized in the 6 Be’s below. When you start thinking about opening or buying a business that you will operate, and that will (hopefully) be your primary source of income, it’s important to fully understand the things that come into play. Here are some tips that may help you to succeed.
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Partnerships: Success formula and Pitfalls
PARTNERSHIPS: SOME GOOD INFORMATION One of the most challenging aspects of owning your own business is working with a partnership. There are lots of different kinds of partnerships that you may consider. • Marriages are partnerships. • Financial partnerships where one operates, the other(s) invest. • Friendships are often made into partnerships (they don’t often work out well). • Multiple Operating Partners in various formats like Joint Ventures, etc.
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