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<< Integrity Moments with Rick Boxx

Integrity Moments - October 20, 2017

  • 2017 Oct 20
  • COMMENTS

 

Partnership Gone Sour

Years ago, two friends came in for some counsel. They desired to start a partnership to rehab houses, and they wanted to do it carefully.

Knowing that conflicts are inevitable, I recommended that they formalize a partnership agreement before buying any houses. In addition, I encouraged the two friends to address how they would handle any future conflicts.

After leaving my office, they drove by a house for sale. They bought the house without any form of partnership agreement! Months later, their partnership went sour, due to misunderstandings about their verbal agreements.

Proverbs 27:12 teaches, “The prudent see danger and take refuge, but the simple keep going and suffer for it.”

If you’re considering a partnership, slow down and document the agreement properly. It may save your business and friendship.

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