Today,

You are going to discover all the facets to create a Business for two and more precisely, several parameters to be taken into account to make a success of the collaboration as a duo with brilliance.

Who better than my partner in private and professional life to do this blog article with me!

It is with Sophie, my partner for almost 20 years now, that we are going to present you the essential rules to live serenely the Business for two and all the pitfalls to be avoided so that it lasts for many years.

Maybe you think 👇 

💬 " Doing a business together? NEVER! It's not for me, it rhymes with hassle, trouble and misunderstanding" 💬

As you will see, creating a business together has its disadvantages, but also many advantages! The trick is to know how to make the right choice and to avoid certain traps.

And this, of course, for more results and good energy

So grab a little peanut butter coffee, get comfy, and let's go kiki, I'll explain everything 🤓

You ready? Come on let's go!

Here is what we will see together

1. Who are Kevin & Sophie, the founders of the Happy.webacademy and what makes their duo last for 20 years?
2. What is creating a business for two and what are the characteristics?
3. Why create a business for two? The 6 advantages and 3 disadvantages of creating a business together
4. 8 pitfalls to avoid when creating a business together
5. What are the 7 rules to follow to create a business together?
6. The 5 questions to create a business for two
7. Our 4 tips for creating a business together

Don't feel like reading? (even though this article will only take you 19 minutes to read, watch in hand⌚)

Watch the YouTube video: Create your own business together: 7 rules to follow to succeed

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1. Who are Kevin & Sophie, the founders of the Happy.webacademy and what makes their duo last for 20 years?

1. Who is Kevin Palombo?

1. As soon as he left school, he was attracted by the entrepreneurial world and went straight into the Family business.
2. He quickly discovered his love for digital and in "I'm learning everything, all by myself" mode, he redesigned the entire branding of the company: from the logo to the website.
3. In 2017, with his visionary soul, he keeps letting his curiosity run wild. He then discovered Webflow! An innovative software coming straight from California to create Websites without a single line of Code. He adheres to it at 300% and wants to share it with the whole world (French speaking) by opening his own YouTube channel!
4. In 2019, they both go to California to meet the Webflow tribe and realize that Webflow is just WAOUW! It is absolutely necessary to make this software accessible to everyone! In less than a month, the Webflow training is registered and commercialized! After 1 week, the craze is already being felt! Today, no less than 100 students are already enrolled and excited by the didactic content!
5. In the Duo, Kevin is the go-getter, he is an energetic person who breaks the codes and whose "it's not possible" is not part of his vocabulary
6. He is very ambitious and HYPER positive by nature, he leads the Happy.webacademy with a masterful hand by instilling authentic values such as benevolence and perseverance

2. Who is Sophie Bollé?

1. Sophie began studying tourism and event planning. She felt that this was not her vocation, but her taste for travel and languages motivated her to complete her studies.
2. In 2014, in neither one nor two, they launch with the support of Kevin and they open together their first Business! An e-shop and a physical store of items for our 4-legged friends! From the paint to the Website, Everything and absolutely EVERYTHING is homemade! What a challenge!
3. In the duo, Sophie is the enthusiast. With her mind in constant turmoil, she has more than 5000 ideas per minute.
4. Creative and analytical by nature, we can say that the 2 hemispheres of his brain are sometimes in "Bim Bam Boum" mode.
5. With her background of nearly 10 years as CEO of a physical and online Business, she enjoys sharing her experience and ideas with students at the academy.

3. The secret of their Duo that shakes the coconut trees

1. After several years of wearing the hat of Webdesigner for Kevin and Mrs. Doggy for Sophie, they take stock and realize that they like human contact and the benevolent Business.
2. They then decided to focus on an Academy that would allow everyone to have the necessary background to run an online business based on their own experience.
3. Born from their love the Happy.webacademy...
4. The strong point of their duo for nearly 20 years? A common vision, a constant questioning and a benevolent environment.
5. Tips ✍️ - To get along well, you don't have to have the same ideas, but the same respect.

2. What is creating a business for two and what are the characteristics?

1. Becoming one's own boss and launching an entrepreneurial activity is a dream realized every year by more than 690,000 companies that are founded in France by one or more partners.
2. Creating a business together is to express the desire to share the adventure of entrepreneurship together.
3. But also to participate in the formalities of incorporation, the sharing of profits, and to respond together to the problems that a company may encounter.
4. Setting up a business with two people is above all because each one can bring a real added value by his qualities, his resources, his contributions, etc...
5. You have to be a good listener, put your ego in the closet and make decisions with the sole purpose of raising the Business to the top.
6. You will have understood, this form of business has its advantages but also disadvantages and is not easy to manage on the long term if the foundations are not solid and well thought out in case of disagreement.
7. As in a marriage, we must "support each other for better or for worse".
8. So it's not for everyone

3 main characteristics of a business ecosystem:

• Listening
• Open-mindedness
• Business continuity must come before ego

3. Why create a business for two? The 6 advantages and 3 disadvantages of creating a business together

1. Benefit #1 👌: Shared responsibility.

1. In two heads there are more than in one
2. When there is a problem or a choice to be made, feeling concerned together and discussing it together allows for more thoughtful and appropriate decisions to be made
3. It is therefore quite natural that all responsibilities are shared
4. This is not a luxury when starting a business

2. Advantage #2 🫵: The division of labor

1. You know the saying "alone we go faster, with two we go further"
2. Thanks to the individual skills of each person, more tasks are accomplished in a more qualitative way
3. Like responsibilities, each task will be divided equally so that everyone can focus on what they do best
4. Hence the importance of knowing how to determine the strengths and weaknesses of each person and to divide the tasks according to

3. Advantage #3 🫰: The larger financial contribution

1. The fact of developing a business together also allows to gather more financial resources
2. The personal contribution that you would have put in solo can sometimes even double thanks to the fact of setting up a business together, thanks to the fair contribution of your partner
3. In the case of an investor or a bank loan, two people can give more guarantees and make a larger loan

4. Benefit #4 🙌 A broader spectrum of skills and ideas.

1. Thinking and executing in pairs also expands possibilities, ideas and creativity
2. Hence the importance of making a good choice of partner and seeking complementarity
3. Listening and questioning are therefore essential values for a successful duo

5. Benefit #5 🤝: Sharing the professional network.

1. To accelerate customer acquisition, it is always a plus to be able to exchange the customer portfolio of each of the associated partners
2. Prospecting and networking are often the "bête noire" of entrepreneurs
3. Being in pairs allows you to network tenfold and sometimes even realize that it's a small world because so-and-so knows so-and-so who already knows my partner, how crazy is that? Thanks LinkedIn!

6. Benefit #6 💪 Motivation and support.

1. This is an advantage not to be overlooked, if not the most important!
2. In entrepreneurship, we constantly go through moments of doubt and loneliness
3. Having a supportive environment and/or partner to motivate the troops is very helpful during these moments of doubt
4. To know that we are together in the same boat and that if it sinks, we will sink together creates strong links and sometimes saves us from sinking

7. Disadvantage #1 👎 : Disagreements

1. In case of disagreements, since we are not alone in making decisions, it can sometimes be "the apocalypse".
2. These disagreements can sometimes even completely block the company due to severe conflicts

8. Disadvantages #2 🤚 : Concessions

1. Who says duo, says concessions
2. We never agree 100% with each other, as they say, sometimes you have to put water in your wine...
3. We are then obliged to find compromises and sometimes give up certain strategic ideas

9. Disadvantages #3 👊 : More possibilities of problems.

1. The disadvantages of teamwork are increased tenfold by the responsibility of the partners
2. The more partners there are associated, the more potential problems there are with employees, suppliers, customers...

4. The 8 pitfalls to avoid when creating a business for two

1. Trap #1 🫣: "I'm creating a two-person business because I'm afraid to do it alone."

1. THE biggest mistake of all!
2. If you have all the skills, finances and leadership, then go it alone!
3. The poor partner that you will choose to compensate your fear will, one day, run away at high speed or it is simply you who will ask him "nicely" (in the best case) to leave...
4. This is really not the solution!

2. Trap #2 💩 "There's no point in making a specific "signed contract" of who does what, we get along so well..."

1. All types of partnerships must be detailed and signed by both parties
2. Far too many couples, friends, and even family members have made the mistake of not writing everything down and ending up with strained relationships
3. There are many details to a partnership agreement, and sometimes it is even appropriate to hire a qualified lawyer
4. Make sure you find a lawyer you feel comfortable and confident with

3. Trap #3 🦂: "Provide a way out? What for, we're in total symbiosis!"

1. In the partnership contract, it is preferable to define an exit strategy that allows one party to withdraw or buy out the other, without destroying the business or the relationship

4. Trap #4 🆘: "Everyone will do a little of everything."

1. Entrepreneurial pairs often don't take the time or make the effort to identify their strengths and weaknesses at the outset
2. One of the advantages of a partnership is to use the skills and strengths of each partner individually
3. If you use your individual strengths, you will go further and the fact of setting up a business with two people makes sense

5. Trap #5 💣: "Go go go, what are we waiting for, let's go for it!"

1. Rushing is not your friend in this type of business
2. Too many partnerships are created in the enthusiasm of the moment, without a thoughtful strategy
3. The commitment of time and money by each partner must be clearly understood by each party from the beginning
4. You need to take the time to stop and consider the positives and negatives before rushing into such a commitment

6. Trap #6 ☠️ : "Let's go together, we both like pink elephants"

1. You don't start with just anyone...
2. A lot of duet businesses sink because from the beginning it was a bad alliance
3. Often, partners discover that they have partnered with someone who has different goals or a very different way of doing business
4. Make sure you consider your future partner's values, personality and business goals before you jump into anything, even if it's your childhood friend

7. Trap #7 ⚡ "You inject a little more money and I inject a little more time, okay?"

1. Time and money are two great values in a business
2. These two factors must be as equally distributed as possible between the two partners
3. If one invests more than the other, whether in time or money, it must be fair, noted in the partnership contract and defined over time

8. Trap #8 🚫 "Let's invest a little and see how it goes."

1. Lack of adequate capital for planned business operations is a mistake made by many entrepreneurs
2. And who says money problem, says friction...
3. Prepare cash flow and revenue forecasts to determine how much capital your business will need at the outset
4. And allow for an extra margin as an air bubble
5. This will avoid stress and misunderstandings in the beginning

5. What are the 7 rules to follow to create a business together?

1. Rule #1 🔒: Trust your partner.

Ken Blanchard, renowned management expert and author of the book "The Minute Manager" believes that the most important element for a successful working relationship is trust in 4 dimensions:

1. Competence

1. It's about doing your job well
2. Each partner must carry out its role and tasks according to the agreed Strategies and objectives
3. For example, if 10% annual growth is a goal, each partner must do everything possible to achieve it

2. Reliability

1. It's doing the job consistently
2. When a partner makes a promise, it must be kept
3. Everyone must keep their promises:
   -between partners
   -between a partner and a customer
   -between a partner and the staff
   -between a partner and a supplier ...

3. Integrity

1. It is the fact of doing one's work with sincerity
2. When partners are frank and communicate honestly, without hidden agendas or tricks, you create a healthy business and attract good people

4. Caring

1. It is the fact of showing a keen interest in the good of others
2. Partners who both understand that doing business is solving someone else's problem will attract the right people to their offerings and projects.

2. Rule #2 🔭: Have a compatible vision and corporate culture.

According to Harvard Business Review blogger John Coleman, six elements are common to successful corporate cultures

1. The vision

1. It is the description of the desired situation for the company over the next few years
2. Generally this vision is made for the next three or five years
3. It describes what the company will look like and whether it will achieve its objectives or not

2. The values

1. It is a set of guidelines on the behaviors and mindsets needed to achieve the vision
2. It lists between 5 and 10 very clear core values that guide the business actors (partners, employees...) and also support the brand image
3. For example, accepting and encouraging change, being adventurous, creative, open-minded, etc. ....

3. The procedure

1. It is important to put in place a series of procedures to guide the company's work
2. For example, the flow of a day, decision-making in case of disagreement, product creation, criteria for hiring a new employee ...

4. The choice of collaborators

1. The choice of the people who will work in your business is essential
2. When recruiting, cultural fit is often more important than technical skills and experience
3. Skills are important, but if the right attitude is lacking, the job will not be done well anyway
4. That's why the cultural fit factor is really important

5. Story Telling

1. When you create your business together, there is a story behind the partnership!
2. Put it to work for your business
3. When stories come to embody the characteristics of the company's business, they become important elements of the cultural fabric

6. Branding

1. Having a clear picture of what your business looks like is important to create a strong brand image!
2. If you don't agree 100% on this image with your partner, you may change it regularly and it is not a stable and strong image for your future clients.
3. You need to create a solid and sustainable foundation to reflect your business

3. Rule #3 🌈: Have mutual respect for each other.

1. Respect each other
2. Treat each other fairly
3. Disagree with each other with kindness
4. Build on your friendships
5. Explore each other's thoughts frankly
6. Work together for a common goal
7. Help each other achieve it

4. Rule 4 🦸‍♂️ : Have a common mission

It is essential to have a common goal and to implement a series of strategies to achieve it through 4 poles:

1. A clear vision of the company and its trajectory
2. A business model where everyone understands their role
3. A similar commitment and involvement of the partners towards the company
4. An acceptance of what can and cannot change

5. Rule #5 📢: Have good communication

Here are 7 tips for applying positive communication

1. There's no point in taking credit for whoever had the best idea, remember that you're both there in the same boat sailing towards a common goal.
2. If there is a problem, ask open, non-accusatory questions
3. Listen objectively
4. Try to have productive and solution-oriented conversations
5. Schedule of regular meetings to review current business and ongoing strategies
6. Establish a clear process for approving and rejecting proposals
7. Control your ego (it is the worst enemy of positive communication)

6. Rule #6 💵: Have a similar relationship with money.

In the creation of a Business for Two, attitudes towards money manifest themselves in several ways:

1. The benefits - investing it for growth vs. keeping it warm
2. Salary - Paying yourself a high amount vs. a minimum amount
3. Staff- Consider them key to the future success of the company, vs. consider them expendable because they are only performing functions that many others could be doing
4. Cash flow - use it as a personal bank with easy withdrawals and returns vs. treat it formally with signed agreements for any personal loans

7. Rule #7 ➗: Have an equitable and judicious distribution of duties.

For the majority of the positions, it is advisable to have an equitable 50/50 distribution:

1. skills
2. tasks
3. shares in the company
4. of the management

6. The 5 questions to ask yourself to create a business together

• 👉 Question #1: Am I willing to not decide everything?
• 👉 Question #2: Do I prefer to work alone or with two (or even more)?
• 👉 Question #3: Do I feel that I have all the skills to do this on my own?
• 👉 Question #4: Is the person I partner with complementary?
• 👉 Question #5: Is it a necessity or a desire not to be alone?

7. Our 4 tips for creating a business together

• ✨ Tip #1: Be complementary in personality and skills.
• ✨ Tip #2: If everyone's personality and skills are clear, then 50/50 management may be the most appropriate solution and it does not preclude discussion or compromise
• ✨ Tip #3: Set up a 50/50 joint financial management, this allows for balance and prevents any misunderstanding in case of doubt of embezzlement
• ✨ Tip #4: Make an exit agreement, you never do that when everything is going well. But it's important to have an exit plan for the partners in case you have to split up

To conclude,

You have just seen all the facets of the Business for Two and more precisely, the different parameters to take into account to succeed in the collaboration as a duo with brilliance.

The process that we set up with Sophie to live serenely the Business for Two and all the traps to avoid so that it lasts for many years have no more secret for you.

As you have been able to discover, creating a Business for Two has, certainly, disadvantages, but still quite a lot of advantages! The only thing is to know how to make the difference and to avoid some traps.

And my last Tip for today 👉 Apply as much as possible the "Zero Ego" policy, the ego can sometimes have too much place in some people, that's why you have to accept the remarks, to listen, to be open-minded (in any event) and never let yourself be guided by your ego.

You now have all the keys to launch yourself into the adventure of the Duo Business with full awareness and with all the chances on your side.

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