Aaron Walker Live From The Greenway

10 Tips On How To Create A Great Partnership

Posted by Aaron Walker on Feb 3, 2021 9:00:00 AM

10 Tips On How To Create A Great Partnership.

I have had about a dozen partnership over the years of me doing business. Don't let people stop your dreams when they tell you that partnerships don't work. That's not true! If they are carefully planned and structured. There has to be an operating agreement!

Here are some tips and things you need to consider so you can create a great partnership.

1. What is the business evaluation formula if we decide to sell? Deposit/length of time/interest rate/etc ( This should be a price that dissuades the partner to sell, not rewards him)

2. What if one partner develops a competing product? Does this negate the partnership? I suggest a length of time for a no non compete.

Who owns the product and platform if you dissolve? What happens if one partner dies?
3. Do I have first right of refusal if the other partner wants out? Will the same evaluation formula be used? Historically, you are penalized when leaving prematurely. This always encourages the partnership to remain in place. It keeps each partner from plotting an early exit. Keeps everyone honest.

4. If a cash influx is needed from the partners are you agreeing to bring your % equal to your ownership %? How much time is allotted for your contribution? What is the plan if the partner says I don’t have or do not want to contribute additional capital?

5. How will the profits/proceeds be distributed? This is a big concern. I suggest a % be distributed and a % be reinvested back into the business. Don’t establish a dollar amount, it always changes as the business grows.

6. When will profits be distributed? Monthly/Quarterly/Annually?
Your needs will always be different. A formula for distribution of profits needs to be in place regardless of your needs. Never distribute based on needs of the partner, this will cause hardship and confusion. Distribute on a schedule.

7. What is the job role/responsibilities, of each partner? Write them out.
8. What is the process if the partner falls on hard times and wants to sell? Non elected, forced ( Bankruptcy, divorce, health, etc..) Formula for evaluation/terms/first right?

9. Is there a dispute clause if you reach an impasse? Or, majority owner holds the red button?

This could be a phased approach. 1. Owners decide 2. Trusted advisors decide (predetermined) 3. Arbitration

Where will the partnership be incorporated?

10. There should be a vision/mission/core values.

You cover these big topics and your future life will be much better, I promise.

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Topics: Business, Motivation, Masterminds, Finances, Relationships, Success, Significance, Priorities, Commitment, Preparation, Clarity, Development, Decisions, Encouragement, Risks, Leadership, Guide, Communication, Execution, Trusted Advisor

What Do I Do Once I've Made A Mistake

Posted by Aaron Walker on Feb 1, 2021 12:47:42 PM

Do not be afraid of doing something new. If it doesn't work out right well okay, you can say, "Hey, I tried!" If it didn't work, pivot change. Do something else but do not be afraid that it's going to fail. Do not think what other people will say or how they are going to view you. Do not allow any fear to keep you in a place - a place that you're not going to experience the life that you want. It's okay to make a mistake. Failure is in not trying not in not succeeding. Shift your mindset! Go out there and go for it. I want to encourage you today to stop being afraid. Pull the trigger! Do something, try something, do it methodically, don't think you have to do it all at one time right. If you're in a spot that you don't enjoy, transition slowly. Get accountability, get people around you that can help you. Incrementally implement a process and a system and a plan that you can work your way out of where you're at.

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Topics: Motivation, Masterminds, Significance, Priorities, Tips, Move Forward, Clarity, Development, Self Development, Burden, Decisions, Crossroads, Encourage, Encouragement, Be An Encouragement, Guide, Determination, Perseverance, Execution, Trusted Advisor, Experience

Agonizing Regrets Or Awesome Memories, It's Your Choice

Posted by Aaron Walker on Jan 29, 2021 9:32:28 AM

During my quiet time this morning, I remember my post two years ago about "The Empty Chair" and it made me sad. In my den, there are two recliners, one for me and one for Robin. This is where we hang out and do life together. But one day, one of those recliners will be empty, one of us will be gone. I know that's pretty sad. The truth is, we're going to have horrific regrets or unbelievable memories, one or the other. It doesn't just apply to marriage but to every facet of life, every person we encounter.

One of our mastermind guys is dealing with bitterness. He can't let it go. Believe me I know exactly what it is. A guy did me very wrong that I wanted to shoot to him. I hated that guy. I didn't want anything to do with him. But six months ago, I went to him and I hugged him. And I told him I love you and I am sorry. I had to let it go because I was the only one being held captive, I was the only one being harmed. I was cheating my family because I was disallowing Robin to live the kind of life because I got bitterness harbored in me.

Guys, some of you, today, you want to hug somebody and tell them you love them and you're sorry. If you can't do that, confess it to somebody else and let it go. It squelches everything in you. We only got one life. We don't get a do over. Get rid of that stuff. You say, they don't deserve it! Well, it's called grace. It's things that people don't deserve but are given to them.

Listen, when you quit demanding justice you will know you have forgiven somebody. When you get bitterness out of your life, you will have a joy that I can't even begin what could transpire. It will change your life. Today, let it go!

Share this message to your family as some of them needs to hear it.

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Topics: Community, Relationships, Success, Significance, Priorities, Development, Self Development, Gratitude, Decisions, Be Happy, fingerprint, Obstacles, Experience, Personality

I Literally Spent Thousands Of Dollars That Have Not Cost Me A Cent

Posted by Aaron Walker on Jan 27, 2021 9:00:00 AM

Do you want to be a national brand like my friend and hero, Dan Miller? Attend conferences. But let me tell you, the magic does not happen in the conference room, not when the speaker talk, it happens outside the hall, during coffee or lunch breaks. Believe me, it's true!

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Topics: Motivation, Coaching, Career, Community, Success, Significance, Priorities, Commitment, Preparation, Discipline, Clarity, Development, Decisions, Wisdom, Encouragement, RoadMap, Growth, Determination, Mission, Experience

I'll Stay Just The Way I Am. The Truth Is, It's Too Difficult To Change.

Posted by Aaron Walker on Jan 26, 2021 9:30:00 AM

What is it in your life that you see too difficult to change?

I am not asking anybody to change your personality. But there are things in life that you need to change to be successful, to be that guy that encourages, to take that opportunity to change somebody's life through words of affirmation and encouragement.

There are things in life we need to change and give up but instead of changing, we want people to adapt the way you do things, the way you see the world, the way you want to do it!

Truth is, there are a lot of selfishness in us today. We don't want to change because we want it our way.

We have to be willing to listen, adjust, turn, sway, bend a little bit. We need to evaluate our life and be a little more pliable. It's hard to change but we can do it. Don't be that grumpy guy that says "It's just the way I am!"

Go to heights that you never dream possible as a result of altering, changing and pivoting!