Partnership Agreements with Charlene Parlett [RR 642]

Charlene Parlett, AMAM, CEC, ATI Executive Coach

Charlene is an Executive Coach at ATI, is a former shop owner, and has been a coach for 6 years. Charlene helps clients find the right solutions to their challenges and encourages them to make the changes that result in having the life they dreamed about when they got into business ownership.

Key Talking Points

• Technician turned shop owner- you spend years becoming a great technician, but now you’re starting a business from day 1 with no background training. Spend the same amount of time becoming a great business owner as you did becoming a great technician.  
• Divorce- see your business as a business instead of “our baby” with emotional attachment. You need defined roles with a business lawyer from day 1. Don’t mix personal banking and business banking.
• Everyone in any business partnership needs to have legal documents- someone may want or need to get out of business, pass away, divorce etc at some point and legal documents are a necessity. Need operating agreement about sale and ownership of the partnership. 
• Succession planning- no one wants to plan for their last day in the business but owners need to have a succession plan in place no matter what
• Getting started- start the conversation in a business setting instead of at home, have in place key man insurance for both, make decisions when no emotions are involved.
• Thanks to Charlene Parlett for her contribution to the aftermarket’s premier podcast.
• Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers.
• Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP’s HERE
• Find every podcast episode HERE.
• Every episode is segmented by Series HERE.
• Key Word Search HERE.

Be socially involved and in touch with the show:

Facebook   Twitter   Linked In   Email

Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.

Buy me a coffee

This episode is brought to you by AAPEX, the Automotive Aftermarket Products Expo. AAPEX represents the $740 billion global automotive aftermarket industry and has everything you need to stay ahead of the curve.  The Virtual AAPEX Experience 2020 is in the record books. Virtual AAPEX lived up to presenting leading-technical and business management training from some of the industry’s best and brightest. Now set your sights on the homecoming in Las Vegas in 2021. Mark your calendar now … November 2-4, 2021, AAPEX // Now more than ever.

This episode is brought to you by Shop-Ware Shop Management. It’s time to run your business at its fullest potential with the industry’s leading technology. Shop-Ware Shop Management will increase your efficiency with lightning-fast workflows, help your staff capture more sales every day, and create very happy customers who promote your business. Shops running Shop-Ware have More Time and generate More Profit—join them! Schedule a free live demonstration and find out how 30 minutes can transform your shop at getshopware.com/carm