Podcast Title: Problems to Profit
Host: Preston Brown
Episode Title: How to Build a Business Partnership with Your Best Friend Without Ruining the Relationship, the Mission, or the Money | Jana & Jordan
Release Date: August 7, 2025
Introduction
In this engaging episode of the Problems to Profit podcast, host Preston Brown welcomes Jana and Jordan, the dynamic duo behind IVitamin IV Lounge in Austin. Brown expresses his excitement about having such vibrant and genuine partners on the show, setting the stage for a deep dive into building and maintaining successful business partnerships without compromising personal relationships or business objectives.
Preston Brown [00:00]: "If your business feels more like a job you can’t quit, then welcome to the podcast aimed at finally solving that problem."
Guests' Background and Journey
Jordan’s Story:
Jordan shares her early life experiences growing up in a large, entrepreneurial family. Being one of five children, she developed a strong work ethic from a young age, frequently starting her own businesses, such as hiring her sisters to run a day camp when she was just 11 years old. Despite financial instability and constant moving, Jordan’s mother provided a halo of love and support, fostering creativity and resilience in her children.
Jordan [07:11]: "I had a day camp at my house where people would bring their children over. I was 11 years old, I hired my two younger sisters and people actually dropped their children off at my house."
Jenna’s Story:
Jenna complements Jordan’s entrepreneurial spirit with her clinical expertise. Growing up in a family of pharmacists, Jenna was immersed in the world of personalized medicine from a young age. Her father’s shift from traditional pharmacy to compounding pharmacy inspired her dedication to customized healthcare solutions. This background laid the foundation for her role as the "clinical brains" behind IVitamin IV Lounge.
Jenna [14:24]: "I grew up in a pharmacy and saw from a young age what dedication and work ethic took to run a successful business."
Building a Successful Partnership
Preston Brown emphasizes the uniqueness of Jana and Jordan’s partnership, highlighting how their friendship and mutual respect have contributed to their business success. Unlike many business partnerships that strain personal relationships, Jana and Jordan have maintained a harmonious relationship by prioritizing friendship and effective communication.
Preston Brown [21:37]: "There’s no partnership without problems. And if there’s anyone that ever tells you there is, then that, I mean, that’s just a liar."
Key Principles Shared by Jana and Jordan:
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Ego Checks: Regularly assessing and managing individual egos to ensure decisions are made for the partnership's benefit rather than personal pride.
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Partners Before Profits: Prioritizing the relationship and partnership over financial gains to maintain a healthy business and personal connection.
Jenna [27:29]: "Friendship first. The friendship comes first."
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Clear Expectations and Intentions: Establishing and communicating roles, responsibilities, and financial arrangements from the outset to prevent misunderstandings.
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Stay in Your Lane: Focusing on each partner’s strengths and skill sets, allowing each to contribute effectively without overstepping boundaries.
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Create Space for Friendship: Ensuring that the personal relationship remains strong by setting aside time separate from business interactions.
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Give Grace: Providing each other with understanding and forgiveness during challenging times to sustain both the relationship and the business.
Jordan [26:23]: "The last and most important is give grace. We've seen each other through every aspect of life."
Handling Conflicts and Challenges
When discussing conflict resolution, Jana and Jordan emphasize the importance of honest communication without blaming each other. They advocate for addressing issues collaboratively, focusing on solutions rather than assigning fault.
Jenna [35:37]: "Don't blame. Make the problem the problem, not the person."
Preston Brown adds to this by introducing the concept of "effective blame," where circumstances are addressed without making an individual the target.
Preston Brown [36:47]: "Effective blame, where you’re following the partnership dues of give grace, create space... Make the problem the problem."
Capital Management and Financial Strategies
A significant portion of the discussion revolves around capital management within partnerships. Brown outlines three primary ways to compensate partners:
- Salary or Hourly: Payment for specific roles and functions within the business.
- Draws: Distributions based on ownership percentages, typically drawn from profits.
- Commission and Bonuses: Incentives linked to performance and growth metrics.
Jana and Jordan share their approach to capital management, highlighting the importance of setting a financial "zero line" to ensure the business remains sustainable during downturns. They advocate for periodic reviews and maintaining open communication to navigate financial challenges effectively.
Jordan [56:47]: "Having just two of us and having that two-way communication, understanding and same alignment was everything."
Choosing the Right Partner
Jana and Jordan stress the importance of selecting partners with complementary skills and shared values. They warn against partnering with friends or acquaintances who may lack the entrepreneurial drive or share conflicting visions, which can jeopardize both the business and personal relationships.
Jenna [53:44]: "Different skills... our skill sets is definitely critical."
Preston adds that partners should have common visions and not just common values to ensure alignment in business goals and strategies.
Preston Brown [54:15]: "Common values is beautiful but common vision I think is key."
Adapting to Change and Setting Terms
The hosts discuss the necessity of setting terms for business partnerships, similar to marriage agreements, to navigate evolving business landscapes and personal circumstances. Regular meetings to reassess the partnership's terms and ensuring flexibility to adapt to industry shifts are crucial for long-term success.
Preston Brown [64:45]: "Set the intention from the beginning and set the expectation from the beginning and then you're in alignment."
Maintaining Balance Between Business and Personal Life
Jana and Jordan highlight the importance of separating business interactions from personal relationships. They suggest scheduling "friendship time" to preserve the personal bond outside of business dealings, ensuring that the partnership remains strong and enjoyable.
Preston Brown [32:57]: "Schedule space for the friendship. If they’re not, they’re just dumping it out and you’re sitting there, like, holding up this trash can."
Conclusion and Takeaways
The episode concludes with actionable advice for listeners on establishing and maintaining healthy business partnerships. Jana and Jordan’s experiences underscore the importance of clear communication, mutual respect, and strategic financial planning in building a successful and enduring partnership.
Preston Brown wraps up by reiterating the key do's and don'ts of partnerships:
Do's:
- Ego Checks
- Partners Before Profits
- Clear Expectations and Intentions
- Stay in Your Lane
- Create Space for Friendship
- Give Grace
Don'ts:
- Don't Blame Ineffectively: Focus on circumstances, not individuals.
- Don't Block Someone's Genius: Allow partners to operate within their strengths.
- Don't Hold It In: Address issues promptly to prevent festering problems.
- Don't Forget How to Apologize: Maintain humility and willingness to forgive.
Jordan [34:09]: "Give grace. We’ve seen each other through every aspect of life."
Final Words and Promotions
Jana and Jordan promote their IVitamin IV Lounge locations in Austin, encouraging listeners to visit their lounges or book their services for corporate events and festivals. Preston Brown also shares information about his own business offerings, emphasizing the importance of entrepreneurship in the evolving economic landscape.
Preston Brown [76:47]: "You can find us @ivitamintherapy.com that's our website and of course we're on Instagram and Facebook and all the social channels as well."
Key Takeaways:
- Prioritize friendship and mutual respect in business partnerships.
- Maintain clear and honest communication to navigate conflicts.
- Implement strategic financial management to sustain and grow the business.
- Choose partners with complementary skills and aligned visions.
- Regularly reassess partnership terms to adapt to changing circumstances.
This episode provides invaluable insights for entrepreneurs seeking to transform their business challenges into profitable and fulfilling ventures without sacrificing personal relationships or business integrity.