Whether it's partnering for a single deal, a lot of deals, or an entire business, partnerships may provide immense gains -- but they can also pose substantial risk. In fact, the biggest reason most startups fail is… can you guess it? Founder’s quarrels.
I've seen partnerships that have enabled the individual partners to garner greater success than either of these might have attained individually. And I've seen partnerships that have blossomed into powerful long-term ventures that have lasted decades and made the partners both very wealthy. Personally, I’ve had a trusted partner in every business I’ve started. Some of you already know this about me, but Latchel is actually my 3rd business venture. In my first business, I launched a mobile ordering application with a friend from college. (We started as roommates and became best friends. The same way that I met my 3rd business partner Will Gordon, COO at Latchel.) In my 2nd business, I launched an e-commerce company that used Amazon FBA for fulfillment. We sold photography accessory products for smartphones. I launched that business with a co-worker turned best friend and we built that company to over $1MM in revenues in our first year.