The art of choosing the right business partner

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The art of choosing the right business partner | via FnBReport

It always starts with an idea. Something so brilliant and unique that you feel success is imminent. The idea is pitched to a group of people whom you feel would willingly back you—financially or otherwise—on this venture. Ideally, you all get along and together enjoy the rewards of a thriving establishment. However, as many would attest, not all business partnerships bear fruit and have that fairytale ending.

“In our family, there are no issues because there is respect,” Lorenzana says. “My eldest brother James has the most interest in Shi Lin since he made the largest investment. So, when it comes to Shi Lin, we let him have the last say.” But the restaurateur cautions that while a harmonious partnership might make for a pleasant ride, it might not necessarily be the ideal vehicle towards progress.

 

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