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In a perfect world:
-find folks for whom the $$'s you need are peanuts.
-from this list eliminate the folks that insist on participating in the bsns.
-from this list elimiate folks who want double digit returns immediately.
Consider an LLC arrangement where losses are allocated to the non-mgt members/investors as an incentive.
In an imperfect world:
-Get and review financial statements from the people you are considering. do NOT take their word on things like net worth, liquidity, etc. Possibly have a CPA review their info. There are crooks out there who will be happy to dump your bsns in the toilet if they can pull $10k out of it for themselves.
-Shoot for a partner you think is a better person than you. bring yourself up, not down.
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Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again!
I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions.
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