How to Maintain a Partnership

Written by Jay Ferguson

Illustration: Christian Dellavedova

Jay Ferguson is the guitarist of Sloan, a Halifax-bred, Toronto-based rock quartet. Few bands stay together for every long, but Sloan—Ferguson, Chris Murphy, Patrick Pentland and Andrew Scott—turns 25 next year. Ferguson explains the secret to the band’s longevity.

I always say split the money four ways. Everybody in our band is a songwriter and contributes, so everybody has had at least one single that has been on the radio. When one of us does well, we’re all in the same financial boat. That just helps a band, because there are no ego clashes.

Sloan is an artistic outlet for all of us. There are a lot of people who have left bands who say, “Oh, I can’t do my song.” Within Sloan, you can do what you want, so there’s no real reason to leave.

This article is from the How To package from the August 2015 issue of Canadian Business. Subscribe now!

MORE PARTNERSHIP POINTERS:

  • Why You Should Treat Your Business Partnership Like a Marriage »
  • How to Break Up With Your Co-Founder »
  • The Dangers of Lone-Wolf Leadership »
  • Why It’s Better to Lead With a Partner »
  • The Anatomy of a Perfect Partnership »

How do you make your partnership work? Share your strategies and experiences using the comments section below.

Originally appeared on PROFITguide.com

The post How to Maintain a Partnership appeared first on Canadian Business – Your Source For Business News.

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