Collaboration vs. Partnership

From one-time projects to building a business with one or more partners, this episode is all about collaborations and partnerships! Our host, Lauren Ruiz, dives into must-have conversations and what to get in writing! “Magic” can be created when people combine the power of each of their zones of genius for a common goal. Knowing what to discuss when going into a collaboration or partnerships and what to have in writing protects all parties and sets them up for the magic to flow!  01:05 - Setting clear expectations in collaborations and partnerships. 02:40 - What is the difference between a collaboration and a partnership? 04:25 - What expectations should you set to strengthen the relationship as a collaborator? 05:05 - Chat about expenses! 07:00 - Tips on setting a timeline. 07:50 - What if one party fails to fulfill their side of the agreement? 08:30 - What is different about a partnership vs a collaboration? 09:20 - Do you own the business in equal shares?  11:30 - What to keep in mind when setting business goals in a partnership. 12:40 - Who will take on which roles in the day-to-day of the business operations? 13:30 - How did you find investments to get your business going or keep you going? (aka Capitol Contributions) 14:45 - How to plan ahead for investments your business may need down the road. ……………………………………….. Work with Lauren Ruiz: https://www.guidemybusiness.co/book-a-consultation  Connect with Lauren on Instagram: @thelaurenruiz https://www.instagram.com/thelaurenruiz/  Join the “Guide My Community” Facebook Group: https://www.facebook.com/groups/guidemycommunity In honor of World Mental Health Day use the discount code below to save 30% on coaching agreements, online course agreements, and mastermind agreements from Oct 10th, 2020 - Oct 12th, 2020  World Mental Health Day Discount Code: MentalHealth30