Yes, you’re partners.

No, that doesn’t mean you’re equal.

Rarely is anyone equal to another person. We all bring different strengths and weaknesses to the mix. We’re all different.

Some of our strengths add value in our business. Some of our weaknesses detract from our value. I defy you to find two lawyers who bring identical value to the business.

The Path to Failure

Starting off with the idea that you’re equal and that you’re going to split the money equally is a quick path to the failure of a partnership. The alternative—assigning different values to each of your contributions—is better, but not without potential for disaster.

Most “equal” partners end up that way because they’ve avoided the tough conversations required to build a partnership that works. They spent their time having discussions about things like office space, cell phone plans, and furniture. They did the easy stuff and avoided the difficult interactions.

Start With the Hard Stuff

The better approach is to start your conversation by talking about money. Make it clear that equal is not an option. Be intentional about having the hard conversation.

If you can’t get through the money discussion, then you know what you need to know. You know that this partnership isn’t going to work. You’re better off finding that out in the beginning rather than waiting for the messy, bitter end.