How to Partner Up for Business
A Business Partnership Made in HeavenTwo people really do need to be compatible in order to be happy working together many hours a week for the next several years. That does not mean that these individuals have to be exactly alike. One might be the creative type, and the other one might have a better head for figures. The best business relationships maximize and value the strengths of each individual partner.
These important things tend to hold businesses together:
- Communication: Each partner should know what is expected out of him from the other partner.
- Honesty and respect: Your partner has to know that you’ve got their back, and you should know the same thing about them.
- Responsibility: Neither party should feel as if they carry an unfair share of the workload.
First, make sure that you are talking to each other, and you might need to set time aside to have regular conversations without distracttions. It might help to hold weekly meetings to make sure that all questions and even grievances get regularly ironed out. In some cases, you should even hold daily meetings when things are moving fast. These could be in-person, on the phone, or even with an Internet chat session.
You and your business partner need to trust each other. You will have enough stress in business without worrying that your efforts are being undermined. You may need to develop some systems of accountability upfront just to make sure that you don’t have problems further down the road.
You and your business partner may have different work habits, but you will not be happy for long if you are putting in 60 hours a week while your associate thinks that three-hour lunches, late arrivals, and early exits are fine since he is now an owner in his own business.
Can You Find a Sustainable Business Partner?
You cannot expect everything to run smoothly all the time. Similarly, there has probably never been a marriage without at least an occasional argument or conflict. If you can both deal with disagreements respectfully and honestly, you will probably find that you never have a conflict that can’t be worked out to your mutual satisfaction.