A Better Way to Setup Partnerships: Avoiding Headaches and Heartaches

November 19, 2023

Hey there, numbers-haters, profit-lovers, and those of you who’ve turned your garage into a home office! Ever thought about bringing in a business partner but shuddered at the potential mess? Well, grab your life vest because we’re about to navigate those choppy partnership waters together.

The Traditional Partnership: A Ship Ready to Sink

Welcome to Calculated Moves, where we treat accounting like the pesky mosquito it is and swat it away with a fly swatter of expertise. We’re here to help you make more money, pay less taxes, and outsource those time-sucking tasks that keep you from doing what you love.

Now, let’s talk partnerships. In the traditional model, they’re a bit like a marriage, but without the cake and champagne. Disagreements? Check. Unfair treatment? Double-check. Messy breakups that make you wish you’d stayed solo? Triple-check!

The Joint Venture: A Life Raft in Choppy Waters

But wait, don’t abandon ship just yet! There’s a better way to do this, and it’s called a joint venture. It’s like having your cake and eating it too, minus the cake, but with a lot of added flexibility.

Sailing Smoothly with a Joint Venture: A Practical Example

Picture this: Jim, the sales guru, wants to team up with Judy, the services queen. But they both dread the potential conflicts. So, they establish a joint venture. They’re still captains of their own ships but decide to sail together on specific projects. If one wants to retire to a deserted island, no problem! The joint venture can be easily adjusted without sinking the whole operation.

The Benefits of Pre-Deciding Terms

This approach lets you pre-decide the terms of a potential exit or changes to the partnership. It’s like having a map to avoid the iceberg that took down the Titanic.

Conclusion: Sail Smoother with Joint Ventures

So, if you’re tired of messy partnerships or just curious about joint ventures, dive into the full article. We promise it’s a smoother sail than you might think. And hey, don’t forget to share your experiences in the comments. We’re all in this boat together!

Business Partners Working On Laptop
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Donna Bordeaux, CPA with Calculated Moves

Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.