Virtually everyone has been in involved in personal partnerships through dating or marriage. Far fewer have been involved in professional partnerships such as business co-owners.

It's worth mentioning that the failure rate of personal partnerships exceeds fifty percent. We don't have hard data on the failure rate of professional partnerships, however we suspect it is every bit as high as that of personal partnerships.

Actually when you think about it, wouldn't it make more sense for professional partnerships to have a higher failure rate? Don't personal partnerships have a stronger motivation for success than do business partnerships?

In business partnerships the main motivator is wealth generation, although many others factors play into the quality of the relationship. Obviously in personal relationship it is a hodgepodge of emotions and benefits that may include companionship, religion, money, love and children. And if it so happens that your personal partner is also your business partner, it can all get very complicated.

This article is written for those of you who are either in or considering a business partnership. I am going to share seven tips that will help you create a winning partnership.