Starting w/ a partner: keeping profits vs reinvesting

1 Reply

Looking for experience/comments.

I'm starting to invest with a partner part time while we both keep our full time jobs. Both of us want to eventually quit and do this full time. I'm wondering how other people have structured their money at the very beginning. My most important "why/goal" for the short term is paying off my huge student loan, my long term goals are for retirement. My question is at what point does it make sense to keep/split part of your profits vs. putting everything you make back into investing?? I've heard people say that they didn't take profits or draw a salary for a very long time.

Also with a partner, one of us thought it best to equally put money into an account to pay for start up costs: company filing, marketing, memberships etc. but the other thinks it's best to each pay for different items until we make that first deal, then open an account. I'm sure both way could work, is one better than the other?

Just wondering what others have experienced.

Thanks!!

In my opinion I have found a tremendous benefit to working with someone else (as long as they are involved and being productive)

1) having a partner gives you someone to bounce ideas off

2) To me it's more motivating (ex, let's see who gets in front of more people this week)

3) They can help finance your growth  with you.

As long as you and your partner are motivated and skilled enough to succeed, you will do more than twice the amount of business that you would do alone, and make half of that.

Hope this answers your question.

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