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My partnership worked out great. My biggest competitor approached me with the idea that there was a potential synergy in putting our companies together. It made sense. We competed on a few products, but he carried some products I didn't and I had efficiencies with some products that he carried but didn't sell well. When I look back, it's pretty frightening how little thought went into the whole thing.
We did some analysis and came to the conclusion that the companies were worth roughly the same amount. So, we threw it all in a pot and stirred and everything came out great.
My partner was way better at sales and I was way better at running the business. We had a few issues here and there, but overall the value of our business increased significantly after the merger and life got a lot easier sharing the burden.
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Lee
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