Ahhh, business partnerships. They can be a great asset to your company or detrimental depending on some key factors. If you’ve ever been in a business partnership or know someone who has, you’ve probably heard about some challenging times.
The challenge sometimes is that you won’t always agree. This by itself can actually be a healthy thing if it sparks new ideas and conversation that moves a company forward. However, if it gets nasty and everyone needs to be right, it can really slow down the company progress while eroding the relationship among the partners.
There is a balance between having alignment and having different approaches that compliment each other. If you’re all the same there is potential for gaps in leadership but if you’re totally different and don’t appreciate what each person brings to the table, or if one or all of the partners are disrespectful, it can be very stressful.
Before you get into a partnership, I recommend you choose your partners carefully. In addition, you’ll want to start the partnership off on the right foot and set up some parameters to guide the relationship if things get rough.
In this video, I share with you some key strategies to choosing business partners and how to use them as an asset to you and your company.
Once you’ve watched the video, I’d love to hear from you! Do you know anyone or have you ever had business partnership challenges? How was the challenge handled? Please share in the comments below.
No matter what, when it comes to any relationship, remember to believe in yourself, be respectful while expressing how you feel and be open and honest with the other people involved. It will create more progress that you might expect.
PS. Some of these strategies don’t have to apply only to business partnerships! They can apply to other relationships in your life too!