Be crystal clear on your vision, your purpose, your values, and what the end looks like.
Your values are what you stand for and what you won't stand for.
The end is something that needs to be considered before you start – is this a business that you will sell? If so, what will that look like? As an example, what do you want to sell it for? How are businesses like this valued? What will it take to achieve that volume of business?
When it comes to a partnership, you need to be VERY self-aware of your inherent behavioral strengths and seek a partner who will provide your opposite behavioral strengths. The reason why most partnerships fail is because the partners like each other… they like each other because they are generally similar. That’s dangerous. You’ll have serious blind spots and have arguments…
It’s all depends on what each of you are bringing to the table. If it’s fairly equal for both of you never accept something different from 50/50 ownership. If he’s bringing far more than you to the table than of course you have to give some things up.