Would you go in business with your spouse?
When I ask my clients this question, I usually get strange looks followed by the answer - "Are you crazy? We wouldn't last together 5 minutes!!!", yet a surprisingly large number of entrepreneurs go into business with their life partners.
And in the case of Cyndi and Jim Padilla, it has been a thriving partnership.
Jim Padilla is a master sales trainer, expert team builder and launch expert. Together with his wife Cyndi, he set up Gain the Edge, a leading sales consultancy that has helped dozens of entrepreneurs to achieve huge success in their product launches, driving sales, and surpassing goals and expectations.
Jim Padilla didn't have a great start in life. He experienced an abusive childhood and ended up in jail when he was in his teens, yet he turned his life around and went on to become an accomplished entrepreneur and renowned sales consultant. And he credits much of this to his partnership with Cyndi. Like any JV partnership, they have brought complimentary strengths into their relationship and it has helped them to thrive.
"I'm the visionary. I'm the strategy guy. I think bigger than everybody. And I'm always looking for ways to monetize this opportunity or make this work or find the path forward to get to the outcome. And Cyndi is fantastic leading the team and getting stuff done...It feels like we have done a hundred years of growth in the last decade".
Catch these highlights from our discussion:
>> Jim’s inspiring story of how he turned his life around - He grew up in abusive environment, in foster care at 13, in gangs at 16, and in jail by 19
>> Jim's journey to entrepreneurship - he had to 100 jobs in the early years of his working life, and it eventually spurred him into his sales career.
>> His first joint venture partner.... a client who didn’t want to a pay their bill!
>> The impact of going into partnership with his wife? Their communication has never been better, and their marriage has never been stronger!
>> The difference between being a “boy” entrepreneur and a grown-up entrepreneur – “most salespeople calculate ROI with a stopwatch instead of with a calendar. If they just stayed the course, it would have happened!”
>> Jim describes the basic ground rules for working with your spouse - never discuss the D word!
>> Jim describes the division of labor with his wife. She’s the visionary….great at leading teams, he’s the strategy guy
>> Being an entrepreneur can be lonely. Jim’s harrowing story of how he had to grow up coping by himself and how he had to learn to be vulnerable to others
>> Jim’s lesson for entrepreneurs, be willing to do it alone, but be fully prepared, because you can’t do it alone. No one looks like they need help, until they raise their hand. Even though you’re alone as an entrepreneur, you never have to be scared to ask for help.
What is The Power of Two?
The podcast where we unravel the success stories of entrepreneurs just like you who have transformed their business through the magic of Joint Venture Partnerships.
Being an entrepreneur can be a tough and lonely journey, but in the world of collaboration, you’re never alone. Whether you’re launching a new product, promoting a new offer or if you’re just looking for great ideas, there’s always another business owner out there to support you.
So join me, Danny Bermant, host and founder of CaptainJV, as we dive deep into the journey of business owners who have harnessed the incredible potential of partnerships and turned them into a powerful a catalyst for growth.
Are you ready scale your business through JV partnerships? – This is the Power of Two podcast.