Protect Yourself Before a Partnership Falls Apart [056 | Rich Jones]

Welcome to Series 3 of the Plutus Awards Podcast! The team is excited to present a new series of episodes, providing our listeners with the best actionable tips and personal success stories from superstars in our community and from the diverse experiences of many creators and entrepreneurs.

Protect Yourself Before a Partnership Falls Apart

Show notes

When partners no longer share a vision or priorities, it is difficult to move forward together. How do we decide when it is best to end a partnership and pursue something independently, and what systems should be put in place to ensure a smooth transition?

In this episode, Sarah Li Cain speaks with Rich Jones of Paychecks & Balances about how he and his podcast co-host decided to go their separate ways, the difficulties of a one-man operation, and the lessons from this split.

Episode highlights

  • A more detailed account of the split between the co-hosts of Paychecks & Balances
  • How Rich Jones found the motivation to press on despite near burn-outs
  • The future vision and direction for Paychecks & Balances
  • Hindsight and lessons from the split with his co-host

Episode contents

0:00 Introduction
0:41 The Paychecks & Balances partnership
3:47 How conflicts grew in the partnership and the logistics of the split
6:45 How friendships and marriages change a business relationship
8:15 Challenges and benefits of splitting the business
10:22 How to manage a new workflow process to avoid overwhelm
13:35 Audience reaction to changes in Paychecks & Balances
14:31 How to avoid being burned out
17:44 Laying out a new direction for Paychecks & Balances
21:18 Carefully tying a personal brand into a larger project
22:54 Biggest lessons from a dissolved partnership
25:54 Where to find Rich Jones
26:45 Wrap-up

About Rich Jones

Rich Jones is the founder CEO & Founder of Paychecks & Balances, a multimedia platform dedicated to helping millennial professionals navigate their finances and career so they can achieve the freedom they want. Beyond P&B, Rich has 11 years of experience working in staffing and human resources across industries and in 2018 became 100% debt-free. He’s been building online brands since 2008 and podcasting since 2013. By day, he’s an Internal Communications & Change Management Specialist at Google.

You can follow Rich on Twitter, Facebook, and Instagram.

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About Sarah Li Cain, Podcast Host

Sarah Li-Cain is a finance writer, the founder of Beyond the Dollar, and an AFC (Accredited Financial Counselor) candidate whose work has appeared in places like Bankrate, Business Insider, Redbook, Financial Planning Association, Stacking Benjamins and Her Money podcast with Jean Chatzky (of NBC Today). Her work blends practical tips and mindset strategies so that those trying to change their financial life can see themselves in the starring role. She also integrates physical, spiritual and mental wellness so that money becomes a tool to enhance people’s lives.

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