When Partnerships Go WRONG: lessons from a painful split

27/11/2024 54 min Temporada 2 Episodio 2
When Partnerships Go WRONG: lessons from a painful split

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Episode Synopsis

Alan shares his proudest moments in business, which involve seeing his employees take ownership and improve the businesses he owns. He discusses the importance of letting go of control and hiring people who are better than him in certain areas. Alan also talks about his transition from being a lawyer to running his own pest control business, highlighting the risk he took and the importance of living without regret. He shares a failure story involving a former business partner and reflects on the lessons he learned from the experience. Allan reflects on his experiences with failed business partnerships and the lessons he has learned. He emphasizes the importance of understanding the perspective of your partners and being willing to compromise. Allan also discusses the qualities he looks for in potential business partners, including resilience and the ability to bounce back from failure. He encourages listeners to embrace failure as a learning opportunity and to view it as a stepping stone to success. Allan concludes by sharing his contact information for those who want to connect with him. Key Topics  Proudest moments in business involve seeing employees take ownership and improve the business Letting go of control and hiring people who are better than you is essential for scaling a business Taking risks and living without regret can lead to personal and professional growth Failure in business partnerships can be emotionally challenging, but it's important to learn from the experience  Understanding the perspective of your business partners is crucial for a successful partnership. Compromise and choose your battles wisely in business partnerships. Look for partners who are resilient and can bounce back from failure. Embrace failure as a learning opportunity and a stepping stone to success. Connect with Allan on social media or through his website for business discussions and advice. Books mentioned: Good to Great, The Top Five Regrets of the Dying   Sound Bites "My rule of thumb, and I've heard this from author Dan Martell, is that 80% done by somebody else is better than 100% done by you." "Failure is experience." On Elon Musk: "There's a lot of things I don't envy about him. He lives a really tough life, but just a true entrepreneur, true visionary. This guy literally shoots for the stars and doesn't take no for an answer." Chapters 00:00 The Value of Employee Ownership and Improvement 02:10 Letting Go of Control and Hiring for Success 04:30 Taking Risks and Living Without Regret 21:06 Lessons Learned from a Failed Business Partnership 28:52 Understanding Your Business Partners 36:20 Resilience: A Key Quality in Business Partners 44:29 Embracing Failure as a Stepping Stone to Success 52:27 Connect with Allan for Business Discussions and Advice About Allan Draper Allan Draper, qualified as a lawyer before pivoting into entrepreneurship. He has since built several multimillion-dollar companies across industries like home services, digital marketing, real estate, and legal services. He now has stakes in 20 companies, and is the host of the “The Business Growth Pod".  Connect with Allan Draper Website 15 min call  Stay connected with Beyond the Fail: Join our mailing list here InstagramTik-tok Linktree   See omnystudio.com/listener for privacy information.

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