Business Growth: To Partner or Not to Partner?(Spoiler: It’s Complicated)

People often ask me: “Should I get a business partner to grow my small business?”

And honestly… that’s like asking if you should get a tattoo while slightly drunk. It might work out. You might end up with a phoenix on your bicep. Or you might end up with an angry duck on your neck that says “Mum.”

Now, full disclosure: I’m not exactly the poster child for partnership success. I’m overly trusting by nature, and I have a strange blend of entrepreneurial optimism, Kaizen-fuelled systems thinking, and the kind of bulldog-stubbornness that should have been filtered out of my DNA generations ago.

I also have a knack for attracting ex-corporate types who think synergy means “you bring in the clients while I hold my hand out.”

When people push me for advice, I usually mumble something vague and try to change the subject—because if I’m being honest (and I’ve promised myself I will be here), my business partnership history reads more like a cautionary Netflix series.

But here we are. Vulnerability, posterity, and all that jazz. So, let’s dive into my personal blooper reel of business partnerships.

Episode 1: Sleeping With the Boss (Almost)

Not long after landing in Australia, I was approached by a woman twice my age who ran an automotive training company. She liked my Kaizen chops and the sparkle in my entrepreneurial eye. Seemed promising—until negotiations got weird.

Let’s just say, when she asked if I wanted to “sleep with the boss,” I realised her definition of “mergers and acquisitions” was very different to mine.

We did not partner. Mercifully.

Episode 2: Bromance Before Returns?

Then came the corporate escapee duo who invited me to head up their tech start-up, which I admit was brilliant. I invested a decent sum, then the bros asked for more, and I politely declined. That’s when things got... frosty.

Turns out the “co-founders” were a little more emotionally – and physically - entangled than I’d been led to believe—and a lot less enthusiastic about refunding my investment.

My takeaway? Always check if your business partners are secretly spooning after Board Meetings before handing over cash.

Episode 3: Friends, Fashion, and Fitzroy Nightmares

This one still stings. A long-time friend asked me to support his fashion brand with his wife.

This was someone I mentored, championed, shared countless meals with—even stood beside at his son’s christening. This is someone I loved and cared for.

It started with a $10K loan and a few clever marketing tricks. It escalated into weekly flights to Melbourne, sleeping in a dodgy warehouse, protecting stock from break-ins (no, seriously, I had to chase away two wannabe robbers in my pajamas), hunting down overdue accounts, and investing over $150K of my own money.

We were killing it. Until one day, they ghosted me. Took the assets. Took the IP. Took the cash. Took the friendship.

He sat in my lounge room swearing eternal loyalty and repayment. That was the last I ever heard from him.

So, Would I Do It All Again?

Short answer: No!

Longer answer: Maybe—if I had a time machine, a team of lawyers, and a therapist on speed dial.

Here's what I’ve learned (the hard way):

• Always have shareholder agreements or legal protections—even with friends.

• Especially with friends.

• Don’t partner with people who don’t share your values. Or friends.

• And never ignore your gut, even if it’s just whispering. Especially about friends.

  
  

I’ve repeated mistakes that I shouldn’t have. I am told that the universe presents the lesson until you finally learn it. And I have lost a lot of faith in people in the process. Which is why – I guess - I overcompensate – I like helping others and going over and above. Good people deserve a helping hand.

Partnerships can be powerful growth vehicles—but only if you're rowing in the same direction, and no one's drilling a hole in the boat.

Hindsight, as George Benson once wisely sang, really is 20/20.

Bio - Barry Money, Founder - Bane Enterprises

For the first ten years of Barry’s career, he consulted in global franchise standards and led significant transformation and innovation projects.

Barry has diverse corporate experience across multiple disciplines including sales, marketing, customer service, product management, export, quality assurance, engineering, IT and supply chain with full accountability for P&L.

At the end of Barry’s corporate career, where he earned the nickname “Goliath Slayer,” Barry transitioned to the C-Suite. Barry Money is a graduate of the Australian Institute of Company Directors and a C-Suite professional, with an MBA in entrepreneurship.

Barry has held director, board member, CEO and and leadership positions in start-ups,

NFPs, Founder-operated entities, industry peak bodies and commercial organisations. 

He held a leadership role at Australia’s largest franchise group, where he was instrumental in driving disruption and growth.

Barry has worked in franchised industries, franchise consulting companies and some of the largest franchised brands globally.

After many years living and working all around the world, he is fluent in Japanese, French, German and conversant with several other languages.

A dynamic, results-driven leader who prides himself on lateral, entrepreneurial thinking and creativity, Barry is renowned for developing and fostering strong teams and a collegiate spirit.

Barry Money now heads up Australia’s ethical, efficient, effective, end-to-end choice for franchising solutions, Bane Enterprises.

Contact details

E: online@baneenterprises.com

Business Growth: To Partner or Not to Partner?