4 Signs A Business Partnership Isn’t Doomed To Fail

 

Should I go into partnership? Do I need one?

 

There are times in an entrepreneur’s life when unloading the responsibility is the dream. If only someone else would take the slack while you focused on the business rather than dealing with industry politics. The thought alone is enough to send shivers down the spine.

 

Partnerships aren’t infallible. There are lots of examples of two individuals coming together without forming a team. When this happens, the politics multiply by two and life gets trickier. To partner up or not to partner up is the question, which is why this post has put together a list of positive signs.

 

You’re Not Friends

 

Don’t get it twisted; no one hates anyone’s guts. If this is the case, then there is no way to keep emotions out of the workplace. Ask the thousands of couples that have tried. You like one another and enjoy spending time together in the office, yet it doesn’t permeate into life outside of work. And, that is an excellent sign for a straightforward reason: the dynamic. Friends don’t want to hurt each other’s feelings so avoid awkward situations and important conversations. Acquaintances tell it how it is for the sake of the company.

 

They Offer Something You Can’t

 

Often, entrepreneurs pick people who are similar. They may be brash or humble. They may do the same thing from a work standpoint. They may even come from the same city or town. It’s a big error in judgment because the person who is getting a stake in the business isn’t going to add value. That’s not to say they are skillful, but they don’t have talents that you don’t possess either. http://forsythes.technology brilliantly puts this into perspective for the technologically illiterate. https://www.accenture.com does it for marketing novices. And, https://www.hsbc.com paints a picture for small business loan applicants.

 

They’re Cautious

 

In the beginning. After you answer their questions, they should start to see the opportunity forming in front of their eyes. Before it gets to that point, they need to ask tough questions and evaluate the responses. This isn’t only for their benefit but for yours and the firm’s, too. Never be impressed with someone who takes everything you say as the Gospel of the apostles. True entrepreneurs prod and poke and rip and tear until they are happy there isn’t anything untoward. If they don’t do it in the meeting, they won’t do it day to day.

 

The Company Comes First

 

Some people think it’s important to be in business for the same reasons. Money is a perfect example. If two partners love the thrill of earning a buck, they will stop at nothing to print money. However, the agendas of partners don’t have to align – the love of the business does. Regardless of their motives, you can always count on them to put the company above anything else, right? In this case, the firm will have the best chance of survival which is the most important thing.

 

What do you see? Are the signs positive or negative?

Please follow and like me:
close

Enjoy this blog? Please spread the word :)