The Economy Is Getting Worse... Should You Find a Business Partner? | Generational Gains Ep. 47

The economy has slowed, real estate investors are feeling the pressure, and many business owners are searching for ways to free up cash flow and survive the next six to twelve months.In Episode 47 of Generational Gains, Greg and Carson Herlean discuss what they are currently seeing in the real estate market, why fix-and-flip margins have become increasingly difficult, and how strategies such as velocity banking may help some people manage debt and cash flow more efficiently.They also explore one of the biggest decisions an entrepreneur can make: choosing a business partner.A strong partnership can provide capital, clients, expertise, accountability, and the missing skill set needed to grow. The wrong partnership can create resentment, financial losses, and a painful business breakup.Greg shares lessons from decades of partnerships, including why you should test a working relationship before committing, choose someone whose strengths complement your weaknesses, listen to trusted mentors and your spouse, and avoid automatically splitting a company 50/50.This episode covers:• What Greg and Carson are currently seeing in the economy• Why real estate deals are taking longer and producing smaller margins• How velocity banking may improve cash-flow flexibility• When partnering with someone can help a struggling business• The warning signs of a bad business partnership• Why complementary skills matter more than friendship• How to test a partnership before making it official• Why taking action beats endlessly preparingWhether you are starting a company, navigating a difficult market, managing debt, or considering bringing on a partner, this conversation offers practical lessons from two generations of entrepreneurs.Subscribe to Generational Gains for conversations about money, business ownership, real estate, retirement, and building lasting family wealth.Watch the full video episode on Greg's YouTube Channel here: https://www.youtube.com/@gregherleanFollow and connect with Greg on IG: https://www.instagram.com/gregherlean/Check out Greg's website here: https://www.gregherlean.com/Carson's IG: https://www.instagram.com/c.herlean/Carson's TikTok: https://www.tiktok.com/@carsonherlean