Tips for Making a Business Partnership Work with Tim Winfrey – Episode #386
Sep 1, 2022
Tips for Making a Business Partnership Work with Tim Winfrey – Episode #386
My guest today is Tim Winfrey, and we are going to dive into tips for making a business partnership work. Becoming and staying successful business partners is no easy task, but he has successfully navigated this process.
Tim co-hosts the Freedom Chasers Podcast and that’s how we met. He is also a real estate broker, marketer, and BPO expert. Tim has completed over 100 fix and flip projects and has managed the repairs of an additional 50+ REO homes. He currently manages a team of 5 agents as the Broker/Owner of 1st Class Real Estate Great Lakes.
Key Highlights:
[00:01 – 07:42] Opening Segment
Tim shares his background and entrepreneurial journey
A real estate broker, marketer, and BPO expert
It is crucial to have a partnership agreement in place before starting a business together
[07:43 – 14:29] Keeping a Business Partnership on Track
What's the most important aspect of partnerships
How Tim and Matt use their strengths and weaknesses to create a successful product
Communication between partners is essential to keeping everyone on track
[14:30 – 21:47] How to Avoid Partnership Failures
Partnership failures are often due to disagreements, miscommunication, and not knowing each other well enough
The great advantages of doing a podcast
Marketing as an investor vs marketing as a realtor
[21:48 – 29:39] Closing Segment
Why wholesaling is a preferred way to get retail leads for realtors
Define the problem defining and then provide a tailor-made solution
Keeping the agency relationship defined and in writing is key to avoiding confusion with the seller
Connect with Tim on Facebook, or call his business line at (630) 273-7363.
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