For starters , pick your partners wisely. It is exceedingly difficult to develop partnerships with some persons. Be it their fault, your fault, a personality clash, or whatever have you at times a relationship is JUST NOT POSSIBLE. As a result, pick your partners correctly! I have a custom koozies company and let me tell you, these words of wisdom all hold true between myself and my current partner
A good partner is not someone who always agrees with you . A good partner is someone who
- Has a similar upbringing and communication style
- Is a good listener
- You look up to
- Offers a different skill set than you possess
- Works just as hard as you
- Has maintained successful relationships (both personal and business in the past)
- Tells the truth
There are numerous other characteristics; but any associate you decide on should definitely possess these bare minimum characteristics .
Construct Your Relationship Before You Build Your Business
All too often I’ve witnessed new partners try to build a successful business without building a productive relationship THIS DOES NOT FUNCTION .
It is crucial that you and your partner get to know each other before any work is completed! Coffee a few times a week does not count. You will need to spend at least 40 solid hours (this is only my suggestion sometimes longer may be crucial) before you start building the hint of a business e.g. a business plan.
Ask hard questions understand them this is a relationship that will include money and hopefully lots of it. Get to know your partner first before you take the leap of working on the business plan.
Dont Forget to Continue to Maintain Your Relationship after Your Company has been Built
Many young business owners consider that once a successful business has been built, their job is done WRONG ! You must continue to preserve your professional and personal relationship with your partners.
Do not stop building a relationship, even if you think you have a very good one make it better ; e.g. share a drink every now and then , talk about things other than work , complement one another, take a company retreat, build a team trust me it will pay off in the long run!
Think Ahead Stop Problems Before They Start
This is straightforward BE A PROACTIVE BUSINESS, NOT A REACTIVE ONE.
Often times partners wait until they hate each other before calling attention to an issue. SPEAK UP! Make yourself heard all relationship failures can be traced to one thing LACK OF COMMUNICATION
If you practice these points, I assure you that you will find success in your business relationships.
Good Luck!