You’ve planned your dream business. You’ve put together a top team. You’ve lined up the funding to make it a reality. Amid the unbridled enthusiasm, it’s easy to overlook the hard questions—What if it doesn’t work out? What if your partners don’t have the same tolerance for risk or your goals become incompatible?
Addressing these questions before you launch the business—or at the very least before problems arise—can be the difference between a brewery failing or succeeding. Here, with help from Candace Moon, a lawyer who specializes in independent breweries, we look at common mistakes and common-sense solutions that could help your business when a partnership becomes unsustainable.
Put It in Writing, Ahead of Time
The best time to prepare for scenarios that impact a partnership is before they develop, when every partner has a cooler head. In the heat of conflict, strong emotions take hold, leading to poor decisions.