Close | X
Blog Profits Blueprint

The Report That Changed Blogging.

Join My Newsletter And Download The "Blog Profits Blueprint"

Is A Partnership Right For You?

By Yaro Starak
67 Comments

How My Partnership With Gideon Shalwick Generated A Quarter Of A Million Dollars In Under 12 Months

When I first started this blog the Internet was younger and many of the current big success story online companies had only recently risen to dominance.

I was fascinated with the background history behind the companies that featured heavily during the dot-com boom, some of which survived post the bust like eBay, Paypal and Amazon.com, and others that had fallen far from their glory days, like Napster.

I read biographical books that covered the people behind these companies and enjoyed hearing how the initial concepts were sparked and what path led from idea to multi-million, sometimes even multi-billion dollar companies.

You can read reviews of some of the books in the archives of this blog, including the PayPal Wars, the The Perfect Store – Inside eBay, Google And The Mission To Map Meaning And Make Money and All the Rave – The Rise and Fall of Shawn Fanning’s Napster.

Two People Are Better Than One

I can’t remember where I read it first, but somewhere I recall hearing that many really successful companies, both offline and online, were started as partnerships. Two people, for all kinds of reasons, are able to achieve more than an individual.

The stories behind some of the big Internet success stories reinforces this idea, as is the case with Google, Microsoft and Apple. There are two founders who drive the vision behind the company, taking it to good performer and beyond to where most companies never go, to industry leader and even cultural phenomenon.

On a smaller scale, many of the people I interview in my podcasts on this blog often are part of a two-person partnership of some kind. One person may be in the limelight more than the other, but behind the scenes, there are two, who complement and motivate each other to get things done.

Up until 2007 I was a solo-entrepreneur, and I liked it that way. I read this fact about partnerships resulting in big success stories online as interesting, but it wasn’t compelling enough for me to run and find a partner. I had no interest in sharing my profits, or needing to negotiate with someone else to decide what to do. I enjoyed my independence as the only captain steering my ship.

Of course there are success stories of individuals creating massive companies too, so I wasn’t concerned that my desire to work alone might hurt my potential for success.

Despite my lack of intention, I have managed to find myself in a successful partnership that will very likely dominate the direction of my business for years to come. It’s worthwhile explaining how this happened, and what it has done for my business, so you can decide whether a partnership could benefit you too.

Random Strangers

One of the wonderful things about life is that you never know what’s coming up next. The only constant is change. This can be a terribly frightening idea if you become attached to something for fear of loss (relationships, objects, places, people, life itself), but also wonderfully liberating because it means whatever you don’t like about your life now will change, it’s a guarantee.

In some circumstances what appears as the randomness of change means you are completely oblivious to what comes next on a conscious level, so when it arrives, it’s a surprise. This idea can make you live in a permanent state of excitement or of course fear, depending how you look at life.

I had no idea that in 2007 I’d attend a typical pitch-fest Internet marketing event, which for all intents and purposes wasn’t anything special, except I met my future business partner there, Gideon Shalwick.

Many people have asked how Gideon and I met, so here’s the story in brief…

Gideon was at the Internet marketing event, walking up to the speakers and asking to do video interviews with them for his Internet Marketing Wizards project.

At the time Gideon was still looking for a break-out project, having written and published a book, and was spending a lot of time with online video.

Gideon came up to me and asked whether I was interested in being featured in one of his videos and I said yes. Since Gideon lived in Brisbane too, we agreed to do it at a later date so he could fit in interviews with those marketers who were only visiting Brisbane for the weekend.

Two weeks later I found myself in Gideon’s downtown apartment, sitting on chairs in front of his green screen, recording an interview. You can watch the video here if you’re interested -

Introducing Yaro Starak (You will have to dig around Blip for the rest of the parts of the interview.)

After I saw the quality and effort Gideon put into his video work I realized here was a guy with passion and an action-taker, two rare qualities.

A few months before this I was approached by the owner of the domain name BecomeABlogger.com to ask if I was interested in buying it. I said no.

I had enough projects going on at the time and I had made the mistake of doing too many things at once previously, so I tended to have a knee-jerk “no thanks” response to anything that looked like it might balloon into a new project.

A few months later I had a change of heart after having an idea about how to use the domain name as an introductory site for new bloggers. I didn’t have much video content at the time, so I decided it would be worthwhile having a site with beginner training videos on how to start blogging with WordPress, which I could send people to. I wouldn’t charge money for the videos, instead I’d use the site as a lead generator.

I bought the domain name but didn’t start the project up immediately. When Gideon appeared he seemed like a good fit as I needed someone with solid video and teaching skills.

I approached Gideon about taking the job on as a contract project and he said yes. It probably wasn’t the most fun work for Gideon, and I can be a terribly annoying person to develop for as I get picky with the little details, but eventually we finished up the site and made ten videos available for free. We were both happy and proud of the results.

When Gideon and I first talked about the project we discussed possibly expanding it, even as much as creating an entire membership site around the concept, if the first ten videos were well received.

It turned out that yes, basic video training for bloggers was something people really wanted, and Gideon’s teaching style was well received. I had access to an audience and Gideon had the skills to produce great video content, so we decided to follow my membership site model and set up a new video training program.

The rest, as they say, is history…

Become A Blogger Premium went on to become my most successful training course to date, with close to 2,000 students taking the course in the last 12 months.

Gideon and I created a new business together that grossed over a quarter of a million dollars in less than a year. We’ve helped thousands of people start successful blogs and Gideon and his wife are now in a much better financial situation too, which is something I get tremendous satisfaction from.

Incidentally, if you are at all interested in the more finite details about how we set-up and launched Become A Blogger Premium there is a special series of videos inside Membership Site Mastermind from Gideon and myself about the BAB Program, as well as my complete overview of how my membership site system works and how you can apply it to launch your own product.

If releasing your own information product interests you, you can begin now by studying my free report, The Membership Site Masterplan, and stay tuned for when I open the Membership Site Mastermind course to new students again.

How Partnerships Make A Difference

Now that I’ve actually experienced an active and successful partnership, I’m in a position to understand why they work and why you would consider entering into one.

Here are some key benefits I’ve gained thanks to working with Gideon:

Put Friendship First

Any form of partnership is based on the ability of the people in the partnership to work together as human beings. If you don’t “gel” then it doesn’t matter how complementary your skills are, or how great the opportunity is, it won’t work.

Gideon and I are well suited in many ways. We are both down to earth, so much so that when we started nutting out the details for our partnership we decided to just play it by ear and see what happened before getting any formal contracts done.

We put the friendship first, and we have always done so because that’s more valuable than anything else. Fighting over profit distribution, or who does what when, to the point of damaging a relationship is not worth it. It hasn’t always been smooth sailing of course, but it has never come close to a situation where we would risk our friendship.

The key to making the relationship aspect of your partnership work is to have a well constructed value system, that all parties share to some extent. If you value the relationships with people before the material benefits you earn from the partnership, then you will do well.

It’s Not Always Smooth Sailing

If there’s one area where most partnerships have problems, it’s communication.

If you don’t communicate where you are coming from or how you are feeling or what your expectations are, when things don’t quite line up how you expect them to, that’s when agitation begins. With enough agitation, the entire partnership can begin to deteriorate.

Gideon and I faced a unique challenge when we started because we were both bringing very different things into the arrangement, variables that are difficult to measure and thus cross reference.

I came to the table with an established brand, channels of communication to reach customers and contacts with some very important people in the industry. These variables are often the hardest to create and are make-or-break in terms of business success, since if you can’t reach people it doesn’t matter how good your product is, you won’t have customers.

Much of my contribution was based on leveraging work I had already done over previous years to create my preeminence, while from Gideon’s point of view he showed up and agreed to do a lot of work in terms of product creation.

Gideon created the bulk of the content within the product we created. He wrote the largest chunk of the resources and marketing materials we used to promote the product and continues to deal with customer service and ongoing promotion.

The challenge with this arrangement is it is very difficult to quantify and qualify what each person contributes to a partnership. It’s impossible to place a “value” on each of our contributions and then attempt to reach a point where we both are adding 50% value each, to justify the 50% value of the company we both own.

The key, and this ties back into the communication aspect, is to make sure that both parties feel comfortable with the contributions each party is making. Emotions are way more important than quantifiable measurement of inputs.

This is something that needs to be constantly evaluated and discussed, which is why Gideon and I have to be very careful as we take on more projects, so we ensure we both know what our roles are and are happy about what we each agree to do.

Gideon was content to do more “labor” work initially because I brought distribution, but I can’t expect to leverage my past efforts while Gideon works hard in the present forever.

Now that we’ve finished creating all the content for the course and most of our system is automated, we have much less work to do. Gideon and I are both in a situation where we can leverage previous effort, and enjoy the fruits of a well structured information product business model.

Why Would You Look For A Partnership?

Although I don’t think it’s necessary to deliberately seek out a partnership, there are some situations where you may consider it a good strategy, either as a means to form a new enterprise, or take your existing business forward.

Here are some situations where a partnership is valuable

Partnerships are relationships, so you don’t want to enter them lightly. Make sure you know what you are getting into, think about where you are heading, what you personally want to contribute, what type of person you are considering working with, whether you really need them as partners and always, always communicate clearly for best results.

Gideon and I are planning some big things in 2010, so if you’re interested in working closer with both of us, stay tuned, we’ll have some very unique opportunities coming soon.

Yaro Starak
Partner

About Yaro Starak

Yaro Starak is the author of the Blog Profits Blueprint, a report you can download instantly to learn how to make $10,000 a month, from only blogging 2 hours per day. You can find Yaro on Facebook, Twitter and .

Follow Yaro

View Yaro Starak's profile on LinkedIn
Follow us on Instagram

Share This Article


67 Comments

  • Thanks for the post Yaro. It’s great to read about your “entrepreneurs journey” and get tips from your insight. Friendships & partnerships work in every aspect of business (and life…)

  • Partnerships are great when they work and it good tha you have a chance to feel “each other out” through a contract work. Many partnerships don’t work out. Being picky can add to the stress of friendship & somes friends are lost due to work disagreement.

    All in, it take some luck I’d say to meet the right people you can work with.

    • You can say that again. My experience suggests that one has to experiment with partnerships in offline and online endeavors before one can decide one way or the other.

  • Thank you for sharing this article about partnership. I have been working as individual and I have not meet up with anyone who has similar direction at me. Should I “hunt” them or wait chances to arise itself?

    Can this partner be a mentor as well? Where should I start looking?

    • If you are happy with what you are doing, as I now am, and are not really looking to expand beyond your current capability, why bother to look? If some opportunity comes along, sure, explore by all means.

  • Yaro it was great to read about how your partnership with Gideon came about. I absorbed every word of your post eagerly especially given an online friend and I are talking more seriously about working together….she’s in Brisbane actually!

    You guys really do make a wonderful team and it’s very clear that you are great friends.

    A valuable post as always. Thanks!

  • Your MessageThanks for the article. Rarely, have I heard anyone suggesting “partnerships”. Most trainers are suggesting that you go it alone, because of the problems involved. I share the business with my brother and it has been good for our relationship…in spite of the difficulties!

  • Hi Yaro
    It’s a good post on partnerships. I have been in business off-line for many years both on my own and in partnerships.

    I think the critical aspect to remember and you touch on it is that business partnershipos are exactly like marriages. Don’t enter into them lightly !

    They need to be very carefully thought through first and especially to do with work loads and conflict resolutions as these are inevitable. Also exit strategy’s must be discussed at the start so that each party understands how they can exit if it becomes necessary.

    Having said that I appserlutely agree that they are hugely beneficial and more often lead to a stronger more succesgful business as both parties have different skills and strengths which they bring to the table.

    Keep up the good work. If you fancy some inspiration for adventure and exploration as I know you are a keen traveler then please check out my site http://www.CrazyJourneys.com which features adventurers and explorers who are undertaking epic journeys !

    Maybe it will give you some ideas next time you fancy a trip !

    regards

    Luke Bream

  • Thanks for this article, Yaro. I’m in the process of deciding who to partner with for a couple of my systems right now, and the point you made about not partnering with people simply because you lack a certain skill set really resonated with me.

  • Very good article!

    In my experience, the more a partner is able to “stand alone,” the better the business relationship will be.

    Also, that old saw about never going into business with friends is stupid. Counter-examples abound: Gates/Allen, Jagger/Richards, Hewlett/Packard, Brin/Page. The list goes on I’m sure.

  • 5 things I think everyone should know about partnership

    1. Understand that it all depends on trust.
    2. Let the other person save his face (For in depth reading, head to ‘how to win friends and influence people by Dale Carnegie)
    3. Don’t become formal or informal. Stay in between.
    4. Respect each other’s business views and ideologies
    5. Never let him know your secrets, even if you think he is your best friend. You guys may feel this is not right, but it’s true. Don’t every disclose your everything, because after all, you are playing the poker too!

  • Wow. Glad that you’ve shared the story on how you’ve met Gideon, from a pitch-fueled (fulled) seminar to BecomeABlogger success.

    Coincidentally, I’m invited to an IM seminar (gonna be pitch-fueled) and would be going just cos’ I have a whole lot of time on my hands now. Maybe … a story like yours will be created through the event? :)

  • Great article Yaro. This is so true. Going it alone is never easy and sometimes becomes discouraging. This is certainly helpful.

  • It is certainly great you found someone to partner with I am a great proponent of the saying “two heads are better than one” but one has to find the “right” “like-minded” person to partner with and that is not easy.
    There is always coincidence, serendipity and/or luck.
    But beyond that how do you think the solo-bloggers can connect with others online and find trust and understanding to work together?

  • This post just reminds me of a recent adage that I heard.

    Competition is dead. Collaboration is alive.

    I believe this to be true. Trying to make it on your own just makes things harder to achieve, and it usually takes much much longer. However, if you can collaborate with someone, you will usually both achieve success faster.

    Anyone looking to collaborate?

  • This is very interesting. Thanks for tell us how you and Gideon met. You seem to work well together – it shows in the calls we have with both of you. I need to have the fix to keep me at it.

    Darla

  • G’day Yaro
    I have joined your mastermind for the next rotation and cannot wait!
    I also have a need and that is I am setting up a blog/s and need to find the opt-in form similar to your blog-Profits one above
    I am aware that there is a function within Aweber for websites and want to know if I use DIY Themes on WP is there a plug-in that I can use that is not via Aweber.
    Also I am a tech savvy semi-retired business exec. from Coomera Waters, Qld and wonder if you are interested in meeting with the idea of collaberation etc.
    Kind regards
    Larry D

  • Thank you for the positive article on partnerships. I have partnered with someone on a new venture and we compliment each other’s skills nicely and are both highly motivated.

    It is wonderful to read about you and Gideon doing so well. I enjoy stories of success.

    Cheers!

  • Hi Yaro. Great post, I enjoyed learning how you and Gideon Shalwick teamed up. I am a bit reluctant to be in partnerships for the following reasons:

    1) At university when my assignments were team assignments, I spent most of my time babysiting the team. I dont think I got higher than a “pass” for any team assignment compared to “distinction” for individual efforts.

    2) I own an appartment in a block of 30. I gave up going to owners meetings because they just degenerated into yelling and name calling. So many good ideas for the building just got canned because concensus was so hard to get. The loudest person always got their way.

    I am a firm believer in being free to shoot for the stars and that also means being free to fail and only have yourself to blame.

  • Yaro, a great measured look at partnerships. Classic Yaro :)

    Trust is hard to commit to when you’re trusting someone with your name and your brand in business – congrats on finding someone you can trust and work with to benefit you both.

  • Yaro, yeah this is right that two person is better than one because I am facing practically as you know that something you know better than me and something I might know better you whether it is business or something else. That’s why people don’t look same and people don’t study the same thing.

    So when two talent mix together it will be very successful if it remain in nice atmosphere.

    Thanks for sharing the useful information

  • Hi Yaro,

    I think your post is very good and I agree that accountability is an important aspect of a partnership. Obviously friendship is also very important (“… working together as human beings”) because it is my opinion that we often DO a lot and not BE a lot. Once we have our priorities in order and “gel”, the fruits of our labour will come and we will have all we need in the moment.
    Great post and appreciate all your effort you have put in.
    Cheers
    Ferdinand

  • Two Persons achieve more than a single one!

    I agree 110% with this. I remember my starting days when I had just started blogging, rushing to meet deadlines, trying to get every possible bit of traffic, earning money and what not! It was more difficult because I am also a student and managing all this and studies becomes very hard.

    So, after 6 months of struggle like this, I decided to start a blog with some partners. And now, I feel like i was best decision of my life. I am not earning 4 or 5 figure income right now(and it’s not even the priority right now) but the money has started to come in.

    Working with a partner can help a lot. First, more can be done in short time. Second, you do not need to be perfect at everything. Partner can help a lot in areas you are not good in(like you got help with Videos!). For me, partnership has proven great!

  • Hi. Throughout the years, I have been involved with many partnerships and attempted partnerships. It’s interesting how much one learns from the things that don’t go as well as hoped!

    The greatest challenge I found, as echoed by several others, is in finding the right people.

    Often, they appear to have the vital skills needed, and the personality to make a great partnership. Sadly, the skills don’t often match expectations or needs and worse, the personality that appeared at the formation of a partnership is not the one that survives tough times – as will be inevitably experienced!

    Whilst I’ve put together many teams, I haven’t necessarily cracked the magic online team to last a distance. It appears to me that it is the motivation that determines the drive and the ultimate chances of success. All the skills don’t necessarily need to be there, but an unquenchable passion to succeed with the project will always find solutions when needed. It’s the sort of drive that has partners sleeping under the desk and working relentlessly until solutions are working. Poking a stick at a project has not yet worked from my experience – but absolute immersion has!

    What makes it so challenging, is that the majority of people play it safe (eg have a job) and finding partners with the right attitude is rare. Entrepreneur sites and meetings are a great start! I enjoy chatting with & helping entrepreneurs – we all need all the support we can get!

  • I think that’s the best way to form a partnership, by not looking for one and then making a friend who you later discover has the talents and skills you need to move forward efficiently

  • AP

    Hey Yaro,

    Good post. I’m intrigued in regards to your new projects for 2010. Keep us informed!

    Cheers AP

  • I think it helps to at some stage have a partnership of some sort.

    I am a soul business owner, but I do outsource to developers. I found one developer over a year ago, who’s like my sounding board. He has good ideas and suggestions and helps me things in a new light.

    Incidentally I found him on a forum. He pm’ed me to help me out with a technical problem I was facing and I found him so helpful and did not expecting anything in return that I asked him if would like to take on some development work for me.

  • The key to making the relationship aspect of your partnership work is to have a well constructed value system, that all parties share to some extent. <– This is the most critical part of your post, and worth repeating.

  • Good article Yaro,
    it happened to me too. Choosing a good partner is not as simple as it looks. That person should willing to think about frindship above all the things.

    Daniel Likin

  • Wow Yaro,

    I always wondered how you guys managed your arrangement. I have a partner in my ventures and it has proven to be a very good thing, for many of the reasons you mentioned in this post. It’s good to know that I’m doing things similarly to how you are :)

    I’m looking forward to what you guys have planned for 2010. It has to be great :D

  • Two heads are better than one, and you would generally find that in a successful partnership the two individuals complent each others shortcomings to a great extent. This is not to say that a partnership is the only way to success, as some solo pilots are really good at what they’re doing too, but it definitely makes things easier!

  • Oh Yaro you’re such a tease in that last sentence. I too look forward to seeing what you are planning for 2010. I ran my own successful mail-order business for 9 years straight out of university and wondered a few times how cool it would be to find a business partner to work with. In the end I found it just suited me for that particular business as I enjoyed working from home, selling physical products.

    With IM though I would love to tap into the power a good partnership would bring, having someone to talk to over the phone and meet up to discuss ideas and get the creative juices flowing. I can imagine the kind of momentum and dynamism a partnership would create would be fantastic and a much more enjoyable experience than doing everything as a one-man-band.

    Like others have said it can be hit and miss finding a good partner to work with over the long-term but you can increase your chances by simply getting out and going to meet-ups and trying outsourcing on a small scale and just expand from there.

    Thanks for a great read,
    Josh

  • [...] who do can you turn to when the going gets tough? You could consider a business partnership, but is a partnership right for you? Yaro Starak formed a business partnership with Gideon Shalwick. He thinks it can work because two [...]

  • Working together with someone else is a great thing, and if both partners have a comparative advantage and specialize in one thing that really compliment each other, than that partnership is definitely worth it! From the experience I’ve seen of others, the biggest hurdle and problem is trust. I have seen some bad cases where the partner put too much trust on the other partner, and it wound up that the partner back-stabbed the relationship by stealing the assets, and running away with it. So as long as you have someone you can truly trust and depend your life on, I think partnering and putting your strengths together is really powerful!

    Till then,

    Jean

  • I definitely agree that a partnership allows you to achieve much greater success. Without a partner it is much easier to lose focus and motivation. A partner can compliment your skills with the skills they bring to the table. A bad partner can be even more detrimental to a business though. So make sure you partner with someone with similar drive and vision.

  • Someone once said, one and one make eleven. Partnerships may play a major role in the success of a business, but this rarely happens that you get a right partner. I do not favor partnerships for small businesses. I had a very bad experience with partnerships. There are always conflicts over either, control, responsibilities, direction of the business, and then the hidden agendas that partners may have. Two minds are rarely alike and each of us has our own priorities.

    • The main problem in my experience in forming a business partnership is what kind of partnership are you going to form, are you going to have legal contracts drawn up, what is the percentage be based on 50-50, 60-40. Will one partner agree to work on the business, while the other sorts out the financial matters? As you can see there are many things to think about.

  • I’ve had many online partnerships over the past few years. The first few caused a lot of frustration until you learn exactly what you’re looking for and clearly define the expectations in the beginning.

    It reminds me of when I was in college and had a few roommates – some are good… while others can be terrible.

    This biggest thing is laying everything out upfront so both sides know what to expect. If you come across someone with complementary skills to yours, they can be very beneficial to team up with (i.e. you’re good at marketing and they’re good at tech).

    Sometimes you’ll also have to face the facts that a particular partnership isn’t working out the best. That’s not a bad thing at all, we’re all different in the way we work.

  • Before starting a partnership, hereis a checklist or steps to take . Startup requirements in business may vary, depending on the specific type of business you are planning to put up, and where your business is located.

    1. Decide on a business.

    2. Choose a business name and have it registered.

    3. Create and sign a business agreement with the help of a lawyer

    4. Register your partnership by filing a certificate or registration of partnership with the Secretary of State. This step is required for limited liability partnership (LLPs) and limited partnership

    5. Obtain forms of business licenses and permits from the federal offices, state government and the local government

  • Saying all this some partnerships are very successful, however the majority are unsuccessful and end with bad feeling and bitterness. It is certainly not some that should be taken lightly or a rushed decision.

  • Great article Yaro. I struggle to do stuff by myself. Having a partner is like having a gym buddy. Keeps you motivated!

  • Great analysis of how a partnership can rapidly accelerate a business’ growth. Two people are better than one for a variety of reasons. If you try to do everything yourself, you may get overwhelmed and give up before you have a chance to become successful. You can also share skills, ideas and vision. Everything is so much easier to handle when you have two minds and two workers.

    • Right! A prospective partnership can help to achieve sales force, accounting, IT, marketing, and management expertise.

  • Hi Yaro,

    Right partnership is the factor that helps you in establishing your market reputation, and finding a right partner is a very hard task you were lucky that you have got Gideon. Not everyone is that lucky, and this is the sole reason that people are afraid to enter in any partnership.

  • While this is a great read, I must express my reservation. I have had bitter experiences in both personal and business ventures with unsatisfactory partners and have reached a comfortable level of operating alone. If fortune favors me with a partner who appeals to me at some future point of time, I am open to trying out.

  • I am about to start a new project in partnership. I hope it all goes well.

    I also met this person in an IM Live event in CA last year.

  • I agree with two is better than one. I’m hoping that someday I’ll have a great partner just like the partnership that you have with Gideon.

  • Yes Yaro,
    I agree with you that we need partners in business.

    In doing real business, there will be real problems and
    require real skills so that, all sort of activities can be
    carries out smootly.

    Can you imagine, if only a person starts google,
    I might be as successful as today, but might not. Why?
    Its because the power of togetherness!

    Motivation, inspiration and helping each other when difficulties
    are the key factor of successful partnership.

    Well, frankly speaking,
    in doing business, you can’t just take anyone to be your partner.
    He or she must posses a skill that is needed and also can be your
    supporter when your feeling disappointed and lack of motivation.

    “That is why, every men needs women as a partner in their life”

    “It’s Not Always Smooth Sailing – If there’s one area where most partnerships have problems, it’s communication”

    Yeah, for me, this one is the common problem that we have when doing partnership.
    At certain point, we agree, certain point we dont agree.
    When something like this happen, we just need sit back and
    discuss, which one is better. This is how
    partnership works!

    Anyway, good article from you Yaro.

    Thanks again.

    • A partnership needs some time to understand each other; they need to get a chance to know each other before they get together on business grounds. The partnership needs to be comfortable with each other before one expects them to give in positive results.
      Motivation, inspiration and helping each other when difficulties are the key factor of successful partnership Good point!

  • If you are going to do a business partnership, an LLC (limited liability company) or corporation is best because it limits your liability. In other words, if your partner is negligent and a lawsuit results, you cannot be held personally liable if you have an LLC or corporation. However, partners are personally liable.

  • Thanks for the insight Yaro !

  • It is interesting to hear how you and Gideon came together to form a partnership. I’m sure there are a lot of solo entrepreneurs out there who could benefit greatly by creating a partnership. It frees up your time and gives you the power of two minds. You really can get far more done with a partnership.

  • Great information Yaro!

    When two like minded guys work together, a mastermind greater than the sum of their minds sought of joins them.

  • This is a lot of great stuff. I am fairly new to the online world and really new to the blogging world. I also have not created any partners with anyone because of the same reasons you mentioned. But now I am thinking that it might not be that bad of an idea if the right opportunities came up. I agree with not going and looking fo rthe partnership just because but if it comes my way and it looks good, I might just go for it.
    Thanks
    Steve

  • I have to say Yaro, that I am so pleased you are doing well. I spend a lot of time on the internet, and there are very few people I trust. I read your blog often, and love the content and advice you provide – it’s top notch.

    You totally deserve the success and long may it continue – keep up the great work.

    Michelle

  • To start looking for a partnership means that ou are willing to expand, but in my case i am very thankful for my site and tbh i am very satisfied with what i am doing now.

  • Been thinking about a few new projects lately and have 2 people in mind as possible partners.

    I’ve already had a couple of informal meetings with them….. a lesson I learned in running a small business was that with the right person or people working with me much much more could be accomplished.

    I’ve done it (business) 2 ways, as a lone “one man show” kind of small business and also as the “employer”. But so far I haven’t really entered a business partnership…. and I believe the people, their skill sets and projects are lining up to do so.

    Love the blog, always find inspiration in your experience.

  • Well, I would definitely be interested in working closer with you guys… but I guess I’ll just have to sit and wait to see what will be going on.

    Jay

  • I definitely agree with what you say. I started to work together with my partner a few months ago, and we both see a HUGE difference. We actually get much more than 2x done than by working separately.

    Now I think, business is not a business if you work alone.

  • Partnerships are tricky and surely require the right approach. You can greatly benefit from that kind of cooperation, but there are also serious threats. It’s great that you outlined the intrinsics of this relationship so well.

  • A partner can bring to the table ideas and suggestions that you may not otherwise be aware of. Synergism between two people equals success. Great read, Yaro.

  • I’m definitely feeling the need to expand and bring in skills that I don’t have.

    I’ve just started working with an outsourcing organization so I can get help with some basic tasks. Plus, in the last couple of weeks, I’ve started working with a woman named Susan who I met on one of your conference calls.

    I agree with the divine intention aspect of meeting people and choosing to explore how to work with an other person. I’ve had a couple of false starts with other people. Looking back, I learned from each experience whether the “working partnership” lasted a few weeks or a few months.

  • I Need Some Quick Advice From Anyone…..(related to this excellent article, thank you Yaro. You will be a large part of my success. I look forward to your weekly emails)…..

    On the topic of having a partner. I am constantly coming up with cooky, sane and insane ideas of ways to make money online. I have been doing this seriously over the past year.

    My sister is very supportive and is a great writer. She recently finished her first novel. I am the artistic, out-going, in-your-face, I-don’t-have-a-job-and-nothing-to-lose person who gets shit done and she is the “write-on-inspiration” “I’m-in-the-Masters-program, I’m-busy type of person.(to sum things up)

    Whenever I come up with an idea she’s all over it. She wants to have some part in it but one problem…

    She’s not really doing anything…

    And constantly asking me everyday…:”are we rich yet” in her exact words. She has written MAYBE 2-3 articles and feels like she deserves HALF of everything I make when I or “we” launch. She really just sort of invited herself to be apart of this project, as if she’s entitled to my earnings and to be my partner because shes my sister.

    I havent been saying much, just sitting back to see if shes going to put out more. Did I mention that the couple of articles she has written are not even ones that I told her to write for the site…UUGH, it was what SHE wanted to write.

    To make a long story short, IM SICK OF IT!

    I could use her skills if she would stop giving me so many excuses…she would be an excellent source for creative content that my readers wont be able to get anywhere. The content is adult and my sister wrote an erotic novel. See how that ties together:)

    Either way, I’m sick of it and I want to get everyone’s hands out of the pot early thats not doing anything, even if it is my own sister.

    What should I do?

  • [...] of reasons to enter into a partnership if you have the opportunity. Yaro has a great post on the topic. Another good example of a partnership killing it online are the guys over at Free the Apps. These [...]

  • Great article Yaro. This is so true. Going it alone is never easy and sometimes becomes discouraging. This is certainly helpful.

  • Well, I would definitely be interested in working closer with you guys… but I guess I’ll just have to sit and wait to see what will be going on.

Leave A Comment

Your email address will not be published. Required fields are marked *

Blog Profits BlueprintLearn How To Make $10,000 Per Month Blogging 2 Hours A Day

Enter your email to join my newsletter and download the Blog Profits Blueprint Exclusive Report

Follow Yaro: Email | RSS | Facebook | Twitter | Google+ | LinkedIn | Instagram | YouTube

Don't show again | X

Follow Yaro On Facebook

And learn how to build a better blog.

Follow Yaro Starak Facebook