How to pick the perfect business partner
Thinking about going into business with someone you really, really like (or maybe even love)? Don't.
While it might seem logical to launch a new venture with someone you get along with, that closeness can actually be a drawback, says Sandy Jap, a professor of marketing at Emory University and author of Partnering with the Frenemy.
"If you have a good relationship with someone, say a friend, that warm fuzziness you feel can often times keep you from seeing clearly the economics of the situation," she says, pointing to researchthat shows good rapport can actually lead to bad business decisions.
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