Edmund Lowman is CEO of Slumber Hostel Group, a youth travel accommodation and tour experience provider in Southeast Asia.
A few years ago, I entered into what would turn out to be the worst business deal of my life. But along the way, I learned many valuable lessons on how to avoid bad partnerships.
Below are my tips for navigating business partnerships, as well what to do if you see your deal is starting to go south:
The old saying, “Hindsight is 20/20,” is absolutely true. Looking back on this, we made so many mistakes that it is no surprise to me the deal went south. A few lessons to keep in mind include:
• Don’t argue with your future partners. Remember, these people aren’t your enemies. They are people you are going to presumably be doing business with for a long time. If you’re arguing and