My story - The Cost of Trusting blindly
This post from a visitor to this site who preferred to remain anonymous is really valuable. It demonstrates the importance of doing your research due diligence on anyone you are thinking of partnering with in a business joint venture.
"I went into partnership with a person I did not know and took that person at face value and trusted him instead of doing some due diligence on him and his company and other partners in there.
As a result I put myself and my family at great financial risk.
I was a partner for 3 years, did not earn very much.
I have not entered into business with anybody
else since then except my wife. This was a painful experience."
Thank you so much for sharing this. However, rather than being wary of all partnerships, you could benefit from this bad experience.
I'd suggest that if an attractive partnership opportunity presents itself again, you check out all those things you failed to do before.
There are some great partnership opportunities around and it would be a pity to miss out all together because of one painful experience.
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