AA Credit Union

Cents-Spring 2017

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AACreditUnion.org | | 23 You can go it alone. That's one way to control creativity and the early costs in your enterprise. But sometimes partners are essential to building a bigger business than you could on your own. Ory says that was the case with Phone2Action and his cofounder Ximena Hartsock. "There is no question the company would not be where it is without us working together," he says. "Finding a cofounder who complements your skills is critical." Experts advise that you do a comprehensive, honest assessment of your own skills to see where you have gaps that a partner might fi ll. "Many great 'idea people' are not great operational people," Chandler says. "So catalog your strengths and weaknesses and then consider whether you want to fi ll gaps with employees, advisors or partners." Chandler also advises to have a separation plan in place if your partnership should someday sour.

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