E263: The Makings of a Great Partnership with Eric Nelson

<p>In business, choose a partner like you would choose a spouse or life partner. Just like marriage, any business partnership takes a great deal of awareness and communication. Today, Erik Cabral speaks with Eric Nelson, CEO and founder of Wild Oak Capital and host of The Real Estate Mindset Podcast, as they talk about the pros and cons of partnership, and the makings of a great partnership.</p> <p><strong>Here are some power takeaways from today’s conversation:</strong></p> <ul> <li>Finding partners who match your skill set</li> <li>The pros and cons of partnership</li> <li>Things to consider when partnering with a family member</li> <li>Some truths about marketing your podcast</li> <li>Taking a year off for a much-needed reset</li> <li>The power of leveraging other people’s experiences</li> </ul> <p><strong>Episode Highlights:</strong></p> <p><strong>[02:30] Finding the Right Partners</strong></p> <p>You don’t have to do everything on your own. Find someone who has the skill sets that match what you need so you can help each other. Trust and communication are also very important attributes of a successful partnership. Start with a baseline by figuring out if both of you are on the same page.</p> <p><strong>[07:59] The Keys to a Successful Partnership</strong></p> <p><strong>Pros</strong></p> <p>1. There's way less on your shoulders if they're a good partner.</p> <p>2. Putting your heads together is way more powerful than just one or the other.</p> <p>3. You get both of your groups together so you’re able to form a tribe.</p> <p><strong>Cons</strong></p> <p>1. The clash of personalities (if you’re not good at communication)</p> <p>2. Struggles - so be prepared for frustrations ahead of time.</p> <p>3. Oftentimes, partnering with a family member is a recipe for disaster. To avoid this, there has to be a clear separation between your roles and you have to set clear boundaries.</p> <p><strong>[33:05] The Power of Leveraging Other People’s Experiences</strong></p> <p>The podcasts you listen to or the books