Sharing Daily Discoveries About Personal Finance And Business Topics

Starting A Venture With Someone You Barely Know

This week I am going to do something that I have never really tried before. Essentially, I am going to create this new venture with a person whom I barely know anything about other than his professional background. Essentially, we both thought that we each brought the necessary skills to the table to do this and figured why not?

This is kind of scary I must say. However, we are trying to do everything necessary to try and avoid conflict such as clearly drafting out a contract of each party’s expectation. Would you feel you need to know way more about a person though before starting a business with them? The ironic thing is from my experience even if it is someone you have known for a long time a business relationship with them can be bad still whether it’s the difference in skill or ethic. So in some ways it’s like the risk factor is the same regardless of who you decide to do business with.

I think for fun I will actually document my experience on this blog this year so that every can see whether or not this kind of a thing is a good idea or bad idea.

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