Derek Powazek on Learning From Partnership Gone Bad

Derek Powasek has announced that he is no longer working with the company he co-founded, 8020, and that he will have no further involvement with JPG magazine. A business partnership slides off the tracks, and after the initial first aid, he offers some advice for entrepreneurs, or for anyone alive, really:

[from Derek Powazek – The Real Story of JPG Magazine]

If it’s any help to other entrepreneurs, here’s what I’ve learned.

1. Make no assumptions when it comes to roles and responsibilities. Like my dad says: “Someone’s gotta call quittin’ time.”
2. Communication between partners is mandatory. And you cannot communicate with someone who is not communicating with you.
3. Decisions aren’t decisions if you have to keep making them. Set on the course and stick to it. If you keep talking about things that have already been decided, nothing will ever get done.
4. When someone says one thing, but acts in a contradictory way, you have a choice between believing their words or believing their deeds. Believe their deeds.
5. Never let anyone tell you what you want. When someone says, “You don’t want that,” what they really mean is, “I don’t want you to have that.”
6. Don’t stay where you’re not wanted, respected, or happy. Even if it’s your company.

He manages six key learnings. Personally, I think you can boil it down to one: No Assholes.

tags: no+asshole+rule, derek+powasek, jpg+magazine, partnership, entrepreneurialism, media