For starters , chose your partners properly. It is exceedingly difficult to forge relationships with some folks. Be it their fault, your fault, a personality clash, or whatever have you sometimes a relationship is JUST NOT POSSIBLE. Consequently, 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 related upbringing and communication style
- Knows how to listen
- You look up to
- Contributes a different skill set than you possess
- Works equally as hard as you
- Has maintained successful relationships (both personal and business in the past)
- Is honest
There are a lot of other characteristics; but any associate you decide on should definitely possess these bare minimum characteristics .
Develop Your Relationship Before You Build Your Business
Many times I’ve seen new partners attempt to build a successful business without building a effective 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 recommendation occasionally longer may be required) before you start building a profitable enterprise e.g. a business plan.
Ask hard questions learn about them this is a relationship that will involve money and hopefully lots of it. Get to know your partner first before you take the big step of exploring the business plan.
Dont Forget to Continue to Maintain Your Relationship after Your Company has been Built
Many young business people feel 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 consider you have a good one improve it ; e.g. go grab a drink together once in a while , talk about things that aren’t related to 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 simple BE A PROACTIVE BUSINESS, NOT A REACTIVE ONE.
All too often 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 guarantee you that you will find success in your business relationships.
Good Luck!