Scenario $39$: Bringing on a Partner?

A friend has asked to join you as a co$-$owner of your business. They have been successful in their business career and have similar skillsets to you. You know your friend's personality$-$type and their style of management is very different than you have envisioned. As discussions seem to circle and tempers start to rise you wonder if going in on your own, although financially risky, is the most simple route. Identify the best way to solve this scenario below. Select the best option from the following:

Sell the business

Hire a mediator to resolve the conflict

Openly discuss your concerns and be honest

Agree upon clear expectations and roles for each partner