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Optimism Isn’t Enough   New business partners often have a shared optimism that gives them the willingness to take on the risks associated with creating a business from scratch.  They can envision their new business achieving each milestone toward profitability and defeating every hurdle.  After the entity is formed, any further formalities feel like an unnecessary obstacle to getting the business up and running.  After all, why document how to split profits or divide duties when that has already been discussed and agreed upon in an email?  We all get along now (when the business isn’t worth much), so why wouldn’t we agree in the future (when the business is valuable)?   Whether your business is a startup or has been operating for many years, …