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Partnerships - Day 251 - Daily Content Challenge

Kekich Credo #63 - Never enter into a contract unless all parties benefit. But no partnership is ever 50/50. There will always be inequities.

A contract is a legally binding agreement between two parties. A party to a contract is one who holds the obligations and receives the benefits of a binding agreement.

There are three basic forms of business ownership. They are sole proprietorship, partnership and corporation. The benefit of a partnership over a sole proprietorship is that you will share the responsibilities, resources, and losses.

A partnership is a relationship between two or more individuals that join together to carry on a trade or business. Each partner contributes money, labour, property, or skills to the partnership. Each partner is entitled to a share of the profits or losses of the business.

Anyone entering into a business partnership with one or more partners should have a Partnership Agreement in order to formalize the terms and conditions of the business relationship. Even if you are entering a partnership with friends or family members, a Partnership Agreement that dictates the way a business is run and details the relationship between each partner is very important.

See what other thoughts I share in today's blog ...

https://travellingtuesdaysbook.com/251-partnerships-day-251-daily-content-challenge/

How Do You React? - Day 246 - Daily Content Challenge

Kekich Credo #58 - You are responsible for exactly who, what and where you are in life. That will be just as true this time next year. Situations aren’t important. How you react to them is. You have to play it where it lies.

You are responsible for where you are in life. That will be just as true this time next year. How you react to a situation is important, not the situation itself.

When you are responsible for something, it is your duty to deal with it and make decisions relating to it. Do you take responsibility for where you are in life today? Or do you blame others or make excuses. When you take responsibility for where you are in life you need to find solutions and then take action to keep moving forward.

How do you react to a challenge or a situation? Reactions are instincts which stem from the subconscious mind. Often there is no filtering process when you react in a situation because you are running on auto-pilot. Quite often when you react, you do and say things without thinking first. You just act and don’t consider the impact of what you might do or say.

Continuing reading my thoughts about this credo in my blog post for today ....

https://travellingtuesdaysbook.com/246-how-do-your-react-day-246-daily-content-challenge/