Women at work and their tips, challenges, advice, complaints, and experiences

If it's a friend, acquaintance, or stranger, you need to cover all your bases before entering into a binding agreement.  Inc.com recommends asking these questions:

1. What will your role in the business be, and what do you expect mine to be?  Having co-CEO's can be difficult so consider having one person in charge.
2. How will we split up ownership, how will we divide profits and losses, and how will we each be paid?  Some experts suggest avoiding a 50/50 split.  If you are equal partners, be careful about giving ownership to an employee--it effectively gives the employee the swing vote in any partners' dispute.
3. How are we going to make decisions?
4. What are your values?  Will you outsource?  Will you employ illegal immigrants?  These types of questions are important.
5. How do you prefer to communicate?  Email, verbal, written??
6. What kind of hours will we keep?
7. What's you spending style and credit rating?  Lenders are likely to check credit history of both business partners.
8. Where do you want the business to be in 5, 10, 20 years?  Chart out a growth plan and possible exit strategies if it doesn't work.
9. Can I have references?  You need to know their reputation and personality.  Check with vendors, check with Google, meet the spouse, meet the family, meet the friends.
10. Now, can you sign this agreement?

Business partnership is a very serious commitment and could be disastrous if not approached correctly.  Good Luck!