Partnerships in business are tricky and don’t always result in success. On today’s episode of The Road to Seven Podcast I’m speaking with Julie Cole, a recovered lawyer, mom of six and co-founder of Mable’s Labels. She has helped bring the company to a worldwide market, gain media recognition and win countless entrepreneur awards. Today Julie and I talk about growing a business—which ended up being sold for millions of dollars—and how she built it in a partnership.
Takeaways from this episode
- No matter what the vision is, take it seriously and take the proper steps to get that foundation in place
- You will never work harder in your life—a start-up is hustle all the time
- If you’re thinking about starting a business with someone put a shareholder agreement together while you’re all still friends
- Before you start make sure that all the humans in your life know what it will actually look like so your support system is strong
- Keep revisiting your business plan and make sure you’re on track
- Don’t be afraid to ask for help; don’t let your ego ruin things
- Know your exit plan—are you growing it to sell your business or are you growing it to leave it as a legacy?