Bringing on a partner can be a huge risk for a company. If things don’t work out, it can cost a company time, money and resources.
For the CEO of Loomia, a company that integrates smart fabric into apparel for brands, this is exactly what happened. Janett Liriano worked with another company on a joint initiative to only realize her company and employees were taking on the majority of the work. Rather than engage in a combative relationship, she decided to cut her losses.
In this video, she explains how she did it, her reason behind her approach and what you can learn from it.
News credit : Entrepreneur