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About the Author: Oren Garnes

44 Comments

  1. Hi Marie, great video! Yes, you are totally right. Getting into business with your best friend can be very rewarding and challenging at the same time! I like what you said regarding the red flags. Not only in a business partnerships but also by working with clients or dealing with other entrepreneurs, seeing red flags help you to be successful and for your own sanity. Love all your video, so entertaining and educational!

  2. Nice A to the Q Marie, tell Elsa's to keep up the good work =P, one thing i would do his hire him to do some soical media for the company. of course then he could hire her as well, as for partnership that last partnership if you want to call it that wanted the money up front so i gave that too them and well it did not end well.

  3. I have been in a partnership that went downhill. I've decided that if I'm going to partner now, that it is a very limited type of partnership. JV partners over a single product for a defined period of time. If it's my idea and it's my brand, you can share in the profits, but you can't have the assets.

  4. I haven't gone into business with a friend but my husband and I are working together. It's a steep learning curve but so far, enjoyable!

  5. I would be pumped if I could work 12-16 hour days! I share a phone computer and apartment with 3 other people so I would not be able to yet. Anyways, I wouldn't consider forming a partnership since my business model works best with independent people. Thanks for the great video!

  6. I went down the partnership hill very early on and was very lucky to be able to get out of it just in time, before my dream completely changed direction! Excellent advice Marie 🙂

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  12. This was extremely helpful. Thank you very much! Not only did you assess the question well but gave me some insight into clarifying what my friends and I are doing together! Sometimes I get frustrated because even after 2 years of working together with my two other friends on creative projects I still want to first focus on supporting myself.

  13. I learned, that you need to verify terms and conditions both of you or more have. treat the business like a big business and keep your legal structure solid. trust but verify. a little skepticism is always healthy and have an exit strategy before even starting; I was in a general partnership, and the individual (my friend) sold me on a false partnership for a comercial cunstruction company through a high net worth individual, ignoring the previous rules I stated earlier resulted me In big capital losses (on which I never got back because of no proof of paperwork) not to mention personal debt, a 300 credit score drop, threats from the bank to repo my car and almost go homeless. So when I say trust but verify, I mean it; regardless of that negative experience I learned a lot and have been Able to find more business deals as well as well as legitimate partnership opportunities. You bet I'm way cautious now and have the ability to say no or reject the offer If I don't see it fit to my requirements.

  14. I agree with your idea of business partnership. Now I've been on my business partnership with one of my friend (not my bestfriend though). In the beginning I planned to make some agreements with him in any of the worst case, including the share of assests, branding, profit, etc. But as time went by, we didn't have that kind of agreement. Now we've been through our business partnership for almost one year and I think now that our mission is different and I have the idea to make this business bigger 'by my own". It doesn't matter for me to make a new brand and modify the system a bit since I have figured out about this business deeply. The other thing is I want to deal with this business as my full-time job and he is working in his full-time job now, perhaps in the future as well. Therefore I figure out to run this kind of business by myself. Do you have any suggestion for this kind of condition? Especially how to end my partnership business on the best way without break our friendship and of course end it fairly in terms of our assets, profit, etc? Thank you in advance for any of your suggestion 🙂

  15. u nailed it..great advice ..I learned the hard way unfortunately. but it's ok we all learn from our mistakes .once again great advice

  16. Partnerships fail so often because it always turns into a who's doing more work than who fiasco. Because people are stupid.

  17. just like a marriage I'd also make sure both people have the same vision you are working to manifest, the same values, morals, goals etc… do you actually want to build the same thing and are your unique skills a great match to make that happen meaning does each person fill a unique position the other can't or at least not as well.

  18. Hey Marie. One time I started a business with a friend. I know you asked us to tell you about it. Do you read all your comments? You only have 38 and yet you've got 424K subs….that's kinda weird. Do you buy your subs to enhance your brand? Anyway…..so about that business…..one time me and my friend started a business about dog petting. So you would get to come leave your dog. and then you got to work. but your dog is alone, right? NOPE. With our biz we had ppl pay us to pet YOUR dogs. Crazy, right? So we got money from the dog owners and ppl who wanna pet dogs. Anyway, my friend ended up being allergic to dogs so it ddin't work and he got hives.

  19. I tried it for a year. It does not work. My partner does not have same passion with me, and does not like entrepreneurship.
    It almost ruins our friendship.

  20. Please help me, my friend have a security business,in he want me to become a business partners with him,I need a little advice from u please

  21. My friend ask me to become a business partners with him but I’m afraid don’t know we’re to start I need ur help please please please

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  23. Marie, good video. I have question through. Someone asked me to be partner with them in existing business I am not sure how to look at it. The firm has been around for 8 years and has about 25 employees. I was offered a minor percentage but not sure how to look at it. Thank you

  24. Thank you for the insight. And yeees stay on your gaaaame! Wish I would have watched this sooner though. Look forward to learning more from you.

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  26. So I just started a fitness brand clothing line, and I’ve been using money from my paycheck from work to buy product, things are going well but slow because I can only buy a little bit at a time and getting the right size is the right colors in the right quantity is hard because I don’t have the money for the supplies to meet the demand, I have a neighbor who asked me if I wanted to take on a partner I would like to take him on as a financial partner, because I just don’t have the capital to get the stock that I need. I do have my LLC I just literally got it, I see a tremendous potential for this to take off, I generate tremendous interest every day and people are always asking for my Instagram for my website and I don’t have any of that yet because I don’t have the back up product in stock, how do I go about taking on a financial partner or financial investor even if it’s my neighbor that wants to become a partner

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