When digging through my email the other night I came across an email I sent that made me laugh.  When I hit send on January 5, 2011 I could not have begin to guess what it would have morphed into nor could I imagine how much profit it would have made over the past 2 and a half years.

Email

The business and how it works is irrelevant.  Explaining it wouldn’t be worth it, but needless to say it is not an original idea and when I wrote that email it was, as I said, “rudimentry” (not sure why the partner gave me a chance when I didn’t even use spell check on that email).  We have been operating this joint venture coming up on 3 years.

In 2011 the business netted (after all expenses but before taxes) approximately $55,000; in 2012 the business netted approximately $36,000 and YTD in 2013 we are on our way to probably about $30,000 of income. Crazy amount of money? Absolutely not, but it is a hobby that provides an income stream vs. a hobby that costs money.  A little bit more about this business is below.

Who You Succeed With May Be the Last Person You Expect

Over the past few years I have tried to launch multiple business ideas (mostly low cost online sites) with some of my best friends.  The two I am thinking about particularly are hardworking and smart.  I have known one friend for 13 or so years and other 20+ years.  Those ideas have failed.  Those ideas failed before they even had a shot to launch which is all the more frustrating.  Even my investment club had a very rocky start and that was made up of 8 other buddies.

Back to the joint venture described above.  It was started with that random email to a basic stranger.  Even to this day I have only met the partner face to face once.

Like Usual Have a Theory or Two

I think I may be comparing apples to oranges within this random and discombobulated post:

  1. In the joint venture case vs. partnership with a buddy the difference is that we are essentially running two separate sites (mine being the blog you are reading today) and then co-owning other sites.  This way we are still motivated to make the flagship sites strong.
  2. The joint venture made money from day one.  The first month there was a 4 digit profit.  This has not happened in the other business ventures.   Money and profitability is a great motivator.

So, What Makes A Good Partner?

I believe that a good partnership creates something where the sum is greater than the parts.  While I wish I had an insightful ending or cheesy advice like find a partner that compliments you, I don’t.  I can’t figure out why one partnership works and the others have not.

Anyone have any ideas they’d like to share?