Great stuff. One thing not mentioned: have an exit plan. This gives everyone some level of comfort of knowing how things can end if they need to.
The barebones:1. Common vision : Do you share the same vision, or are you at least able to bridge that delta in the individual visions?
2. Value proposition : What do they bring to the table? Capital? Hard Skills? People Skills? Business Connections?3. Mutual Trust : When the situation calls, is either of you comfortable with letting the other chap run entity entirely on their own for a while?A while back, Idd Salim blogged some thoughts in relation to this, albeit from the Techie's standpoint: http://bit.ly/12y8GQTTony.
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