The #1 Thing You Need to Know When You Create a Partnership [Limitless MD, Episode 111]
You can grow alone. Undoubtedly. But your growth will be linear. Instead, you can get exponential growth in the right partnerships. It is important to realize that partnering with someone transparent is valuable. Still, there are different flavors associated with this experience. Fifty-fifty is just one of them.
The first thing to remember is that this is a world of possibility. For example, you can partner in medical businesses and clinics. Besides, you can do it for other investments, real estate, or a coaching business. Furthermore, you can also find a person to share a side hustle. To begin with, there are some steps to take into consideration. And I will help you check them all, of course.
These are some of the topics I cover during the episode:
- #1 rule in JV partnerships
- Where and why you should partner up
- Different types of partnerships
- Steps for structuring agreements
- Learning points about partnerships
Without a doubt, you have to be trusting when you partner with someone. But you also have to be vigilant. Unquestionably, this episode will help you create the strategy for growing your empire. If you can, always retain operational control and establish buy-sell processes. Moreover, keep your equity and be generous. Until next time. Be phenomenal.
“Here’s the #1 rule of JV partnerships – you don’t want a win-lose, you don’t want a win-win. You need a super win-win for it to happen.” – Vikram Raya
In This Episode:
00:00 Welcome back to another episode of the Limitless MD podcast
01:38 #1 rule in JV partnerships
01:51 A partnership horror story I experienced
05:12 Where and why you should partner up
05:57 Different types of partnerships
07:46 Steps for structuring agreements
09:35 Learning points about partnerships
Resources Mentioned:
– ChatGPT – https://chat.openai.com/chat
Resources:
– Join our Free community of high-performing physicians: the Physician Wealth Accelerator
– https://vikramraya.com/programs/
– Sign up to my email list
– Apply to work with Vik and book a clarity call here
– Group Coaching Now Open! Apply Here
Connect with Vikram:
– Website: https://vikramraya.com/
– Instagram: https://www.instagram.com/vikramraya/
– Facebook: https://www.facebook.com/Vikramrayamd
– LinkedIn: http://www.linkedin.com/in/vikramraya/
– YouTube: https://www.youtube.com/channel/UCdq9M-kD0L2hy1UlfOK-hwQ
Special Thank You to Music Provided by Music Library https://soundcloud.com/music-library-non-copyrighted-sounds/300-violin-orchestra-jorge-quintero-copyright-and-royalty-free
