How to start (and fix) your business partnerships with Sara Urquhart - 79
11/10/22 • 50 min
Join me and seasoned entrepreneur Sara Urquhart as we share stories (good and bad) about business partnerships and give you the tips you need to make smart business partnership decisions. Sarah spells out the critical questions that you should ask yourself when you are deciding whether to go solo, bring on a partner, and how to navigate changing roles, expectations, and life events that can threaten successful business partnerships. If you are in a business partnership (or planning on being in one!) ESPECIALLY if you are going into business with friends, or family, don't miss this deep dive episode!
In this episode:
Why a lot of female founders think they "need" a business partner and how to overcome it
What you should look for in a good business partner
How to evaluate business partnership compatibility
How to use dynamic equity to make business partnerships more fair
How to structure more peaceful partnership check-ins
What intellectual property issues need to be addressed between business partners early in the "business marriage"
What's a "business prenup" and why do you need one
+++ more!
Links:
HELPFUL RESOURCESCreative Counsel Episode 45 - Business Partnerships 101
Operating Agreement Template - the business "prenup"
Make sure you’re legally legit with my free legal workbook!
Do you have the contracts you need in place? Take a free quiz and find out exactly what you need for your business at creativecontracts.co.
Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify, and iHeartRadio.
Or browse through my quick tips and tricks by connecting on Instagram.
LET’S CONNECTInterested in working together for one-on-one legal services? Book some time on my calendar!
*Not legal advice. No attorney-client relationship. For informational purposes only.*
Join me and seasoned entrepreneur Sara Urquhart as we share stories (good and bad) about business partnerships and give you the tips you need to make smart business partnership decisions. Sarah spells out the critical questions that you should ask yourself when you are deciding whether to go solo, bring on a partner, and how to navigate changing roles, expectations, and life events that can threaten successful business partnerships. If you are in a business partnership (or planning on being in one!) ESPECIALLY if you are going into business with friends, or family, don't miss this deep dive episode!
In this episode:
Why a lot of female founders think they "need" a business partner and how to overcome it
What you should look for in a good business partner
How to evaluate business partnership compatibility
How to use dynamic equity to make business partnerships more fair
How to structure more peaceful partnership check-ins
What intellectual property issues need to be addressed between business partners early in the "business marriage"
What's a "business prenup" and why do you need one
+++ more!
Links:
HELPFUL RESOURCESCreative Counsel Episode 45 - Business Partnerships 101
Operating Agreement Template - the business "prenup"
Make sure you’re legally legit with my free legal workbook!
Do you have the contracts you need in place? Take a free quiz and find out exactly what you need for your business at creativecontracts.co.
Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify, and iHeartRadio.
Or browse through my quick tips and tricks by connecting on Instagram.
LET’S CONNECTInterested in working together for one-on-one legal services? Book some time on my calendar!
*Not legal advice. No attorney-client relationship. For informational purposes only.*
Previous Episode
Building a 7-figure fashion eCommerce brand in the Netflix hours with Cents of Style CEO Courtney Brown
Courtney Brown is the CEO and founder of Cents of Style and Be Fulfilled, two multimillion-dollar Utah-based eCommerce companies. Cents of Style aims to bring the latest in clothing and accessories in an accessible and affordable way while Be Fulfilled aims to help influencers develop, source, ship, and service their own product lines.
In this episode of Creative Counsel, Courtney shares her 15-year journey in building her companies from the ground up, including some giant pivots and bringing her husband into the businesses full-time. She also geeks out with me about how we’ve had a front-row seat to the changing shape of eCommerce, especially with brands grown through influencer and affiliate marketing. Courtney also shares how to create business boundaries, especially when working with friends, how to handle the inevitable curveballs that come with physical product, her best tips on hiring and managing team members, and how to approach the constant problem-solving that is part of the entrepreneurial journey.
In this episode:
- what to do when what you're working hard but not making any money
- why affiliate marketing is a win-win
- how to work with your spouse in your business
- hiring on skillset vs. mindset
- what to do if you have problems with your physical product
- should you source overseas if you're worried about copycats
- what the "netflix" hours are and how you can be using them to your advantage
- why not everyone will start or success in business
- Courtney's favorite business books
- what you should be doing to check in your vision every year
Courtney Brown's Quotes:
"If you're passionate about something, don't let that deter you.There will always be something standing in the way. There will always be a challenge. That's where the opportunity lies. If you can figure out how to solve the problem that others say is impossible. That's the largest opportunity if you can figure it out."
"If it were easy, everyone would do it. But your willingness to find solutions to the problems and move beyond them to shift, to change. And to keep going -- that is the number one predictor of success."
"Let's not forget the market is enormous. You don't need the whole pie. I don't want the whole pie. I just want a little piece of it. I want to create enough value that people see the value and want to participate in it. You can take up a little bit of the pie and live a very beautiful life and help and bless a lot of people."
Links:
The Four Agreements by Don Miguel Ruiz
Other podcast interviews with Courtney:
Fight Like a Mother: Raising Kids with Mental Illness
Dr. Julie Hanks: Healing Aspirational Shame
Nitty Gritty: Courtney and John Brown
Connect with Courtney
Contract Templates for eCommerce Companies: 2. Client Service AgreementIf you like this episode you’ll love
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