I am exploring a traditional search with a partner (brother) mid-career. Interested in connecting with and hearing experiences of current and past searchers in similar situations.
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What would you like to gain from your partner that can't be achieved alone or through hiring, mentors, consultants or your board?
Beyond skills, are you synergistic in personality, risk tolerance and ethical decision making?
Do you have similar drive/energy?
Is the value that you each bring to the business relative to the equity split? (shouldn't always be 50/50, though this is often the initial instinct)
How will you handle conflicts that arise from an imbalance?
Do you share the same fundamental strategy for growth/dividends/reinvestment? (again, some of this will be predetermined with a traditional search)
Have you both discussed and documented your combined and individual exit strategies, including how a pivot would be handled?
Have you both discussed and documented how you will handle divorce/death/dissolution of partnership?