The Integrated Entrepreneur

The Entrepreneur's Guide to Avoiding Million-Dollar Mistakes

Jonathan Fodera Episode 85

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What if a single business partnership misstep could cost you everything you've worked for? Tune in Jonathan Fodera shares his own trials and tribulations with Joseph Viccora, his longtime friend and business associate. They have learned the hard way that not all partnerships are created equal—from a partner who barely contributed, to embezzlement in a successful brokerage venture, and even a gym franchise that went awry. This conversation sheds light on the importance of trust, transparency, and active involvement in any business endeavor, hoping to arm you with the knowledge to avoid our past pitfalls.

When it comes to hiring, the stakes are equally high. Jonathan and Joseph discuss hiring mistakes that cost them between $300,000 to $500,000, not to mention a fraudulent $700,000 loan incident that left them reeling. It turns out that poaching high-level talent from other companies often leads to misalignment and disappointment. They also share a unique insight: athletes often make great salespeople due to their inherent competitiveness and resilience. Whether you're navigating business partnerships or growing your team, these insights aim to prepare you for a smoother entrepreneurial journey.

  • Partnerships should bring complementary skills, not just money.
  • Always conduct due diligence before entering partnerships or investments.
  • Hiring based on skill set alone can lead to disaster.
  • Cultural fit is essential for small companies.
  • Investing without proper research can result in significant losses.
  • Toxic employees can disrupt company culture and performance.
  • It's crucial to address red flags during the hiring process.
  • Accountability is key in business ownership and partnerships.
  • Avoid absentee ownership in business ventures.
  • Learn from past mistakes to build a successful future.

🎙️🚨 PODCAST GIVEAWAY 🚨🎙️

Apple Podcast: https://podcasts.apple.com/us/podcast/the-integrated-entrepreneur/id1721945867

Spotify: https://open.spotify.com/show/44djZ5wR9cyqTAKJs8DyEX

Subscribe to the podcast and email proof of subscription to jviccora@integratedbusinessfinancing.com.

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