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Partnership Pros and Cons: Taking Time Off, Decision-Making, and Building the Right Firm Structure

In episode eight of the Own Your Firm podcast, Logan and AJ discuss running a firm solo versus with partners, starting with AJ’s two-week trip to Greece for the Feast of Tabernacles and how he prepared by front-loading work, notifying clients, assigning projects to team members and partners, and scheduling media in advance. AJ explains how having a team and two partners made the break possible compared to being solo, though returning meant catching up on emails and meetings. They touch on industry chatter about whether billable hours are going away, AI claims that accountants are “cooked,” and Logan’s upgraded microphone setup. The main conversation covers Maverick’s origin as a three-owner partnership, how they divide responsibilities, make decisions, and split profits, along with challenges like alignment, accountability, and slower decision-making. Logan shares solo pros and cons, including autonomy but having to handle sales, operations, and delivery alone.

00:00 Welcome And Catch Up
01:00 Prepping For Two Weeks Away
02:02 Greece Trip And Holy Days
03:01 Working Less While Traveling
05:39 Team Coverage While Away
06:49 Planning Your Own Sabbatical
07:52 Spicy LinkedIn And AI Talk
10:59 Desk Setup And New Mic
12:29 Solo Versus Partners Intro
14:18 How Maverick Partnership Formed
16:26 Partner Roles and Rhythm
16:55 Choosing Complementary Partners
17:32 Accountability and Workload Balance
20:23 Decision Making Tradeoffs
20:45 Office Upgrade and Focus
21:49 Home Distractions and Studio Dreams
24:26 Solo Practice Pros and Cons
27:11 Balancing Content and Firm Work
31:20 Profit Sharing and Entity Setup
34:33 Cost Sharing and Alternative Models
37:10 Wrap Up and Listener Q&A