This episode is about the issue of shared ownership in business. It covers key questions that anyone considering going into business with others will face, including:
- Should you go into business with others or be a sole owner-entrepreneur?
- If you do go into business with others, how will you split ownership?
- How will you ensure that the owners are all incentivised to add value to the business? In other words, how will you avoid the free-rider problem?
- How are you going to make decisions together efficiently and avoid deadlock?
- What will you do if the owners no longer want to work together, or one of them wants out?
Jake provides his own experience in facing these questions and summarises some of the options available to consider. It's up to you to decide what the best choices are for your own business. This podcast will help you make these decisions.