The Partnership Charter

If you are about to start a business with other people - READ this book! It helps prevent conflicts from starting and it helps to resolve conflicts that have started. It clearly identifies the major issues that you encounter over a lifetime of business ownership and it helps you examine how to address differences in values - both personal, financial, and practical.We created a partnership/business agreement (shareholder agreement) about 20 years ago and we addressed about 80% of what this book recommends. The 20% that we forgot to address or that we were not courageous enough to admit might happen, turns out to be critical 20 years later. There are so many unintended consequences that come from our human nature to avoid conflict and to avoid addressing problems head on. Do you and your business colleagues sweep things under the rug or kick the can down the road and say, "we will look at this later"? Have you gotten into a jam because you avoided dealing with a problem in a timely manner? This book is a terrific tool that will help you understand and appreciate why you need to address key concerns BEFORE they morph into problems that threaten the well being of your company or business.This is so well written and enjoyable to read. The author, David Gage, gives great insights and shares quick, real life anecdotes from businesses that experienced real stresses and failures due to business relationship misunderstandings.This books gives lots of examples for how some businesses REPAIRED relationships and moved on to future success and how some DISSOLVED relationships and parted ways amicably BEFORE litigation. This is a powerful tool and resource that every business owner should read and every future business should read before starting out. Steve Covey said "begin with the end in mind" and this book helps you set meaningful goals that will work for you and your business partners and stakeholders.

The Partnership Charter was recommended to me by a business consultant and I must say that it's the smartest $20 I've spent preparing for my project. The author uses multiple real life examples of both successful and problematic partnerships, shedding light on common pitfalls that can be minimized if not avoided, when discussed in advance. As you read along, it is easy to see how that lack of proper planning of so many expectations can quickly cause tension in the partnership. Through these examples the book does a beautiful job of demonstrating the stark contrast between the romantic vision of a successful business vs the possible reality of a strained relationship. The chapters and story lines are easy to follow and very engaging, maintaining your interest from start to finish.Researching the company further, I found that Dr. David Gage wrote a supplemental workbook to assist in the process of developing your charter. I contacted BMC and they were very generous with their time and counsel. I highly recommend the book to anyone seeking more knowledge and/or preparedness prior to entering into a partnership and to not hesitate in contacting the BMC Team for additional assistance.Overall, the book is well written, insightful and very informative! What else can you ask of a book?

Probably, I was expecting more in terms of ideas of how to form ownership charter, design salary structures, do profit sharing and such objective issues & matters in a partnership. Even though the book touched on these points, a major part of the book is devoted to discussing (at length) subjective issues like values, understanding etc between partners. Even though these are important, I guess I was looking at something for a book with a different focus. The book is decently written, has examples, and ends with a sample charter which I think is the biggest takeaway.

I describe myself as a "serial entrepreneur" and have read many "how to start your own business" kinds of books. This is among the very best. It strikes the right balance between being informative and readable. It's clearly informed by a great blend of theoretical knowledge, practical experience as a professional partnership mediator, and empathy for the audience.My only criticism is that I think the book would have been even more useful if it had included a section designed to be used as a guide for conducting a partnership charter workshop, including questions, exercises, and templates. Although there is an appendix with an extended and very useful example of a charter, the author points out that "No charter is perfect or can serve as a boilerplate for another partnership," so the example included is of limited value to a group of busy people who need to quickly and effectively develop their own unique charter.That caveat should not stop you from getting this book and reading it carefully, if you are considering a partnership, or are already in one.

A lot of common sense, but never the less a good read. Its always good to have all you I's doted and all of your T's crossed.

I came across this book in the small business section of the library, and once I had read it, decided I needed to purchase a copy for my permanent collection. I have been through the partnership anguish described in the book, and I wish I'd found the book earlier because I think my partner and I may have had a chance at working things out had we followed Gage's advice. Moreover, I am writing a book on women and small business, including a section about how natural and helpful it is to take on a business partner. I plan to refer to and recommend Gage's book in my own. The Partnership Charter is insightful, useful, and well-written. In a very professional way, Gage tackles one of the most vexing challenges of small businesses: they are personality-driven. I won't pretend that implementation of his advice is easy, but at least you'll have a roadmap that helps you and your partner to reduce the risks, get to know each other better, and give it your collective best shot.

Anyone who is looking to solve disputes or start from scratch in a partnership, this is a must have book and totally worth the read.

Book arrived very quickly and was as described

This book is good and well-worth reading, but it needs an accompanying workbook or more precise guidance. I like his approach and he brings up many good points, but he doesn't provide enough help on how to take concrete steps to work out all the issues.

Good to know the basics about a proper partnership in business. The written style is good and to the point.

I've been involved with a few partnerships and this book presents many excellent ideas on how to think before entering into one. I reference it often with my work consulting to business owners.