I have business partners that I know personally and things work out very well. But, I'm wondering (since I see these threads all the time), do strictly online partnerships really work? Is anyone currently involved in one? By partnership I mean two owners of a single company, not someone just helping out or working on a small deal together. If an online partnership worked for you, how did you go about setting it up? Do you guys have contracts? Usually for any business venture, you need an EIN, license, joint business account, etc to get it started. Which to me seems very risky and hard to do with an online partnership.
Ive recently made a post (in this category) i have taken part in about 7 partnerships. Out of the 7, 2 have turned out badly, luckily i didnt lose too much money. I generally run the business in this way: 1 person has the domain in their name, the other has the hosting in their name You both pay 50% of everything OR you pay for 1 months advertising the partner pays for a logo to be designed or whatever. The other 5 i have had have either just fizzled out (but in a good way we sold the sites for a profit or i bought the toher person out or vice versa) and im still in 1 partnership now which is going alright. When your looking for a partner if you find someone prepared to invest money then you usually know they are serious and if you look through their history on here then you can usually find out who is the real deal and who isnt.