The Mark of a True Business Partnership: Working For Win/Wins

In the beating heart of every entrepreneur, business owner, and business partner, is a desire to move with ease and speed, to be one step ahead of the curve, to have a partner and team working smoothly in the flow, laser-focused on achieving mutual goals and agreed upon outcomes, driven to succeed.

A business is fertile ground for partnering with one or more people, often with complimentary skills, energy and enthusiasm, sometimes investing money, bringing connections or a book of business.

Like many relationships, business partnerships are sometimes humorously referred to as a working marriage. Both are “working relationships.” Humor highlights the complexity such close relationships bring. And like the long-term commitment of a personal relationship, the spirit that brings people together in business also requires interpersonal skill and attention to make the business and the relationship successful over the long-haul.

Yet while business partners enter into their legal and working relationship with positive expectations, even enthusiasm, statistics show that anywhere between 50% to 70% of business partnerships ultimately fail. How do you inoculate yourself against such a demise?

This is the first of many articles that introduce an approach to navigating an important business relationship that should be a great asset to you and your business. It offers insight into the mindset, skills, and tools to work as Big Picture Partners™. This style of relating in your business provides you the communication tools and processes so you arrive at mutually satisfying solutions to your business needs—so you enjoy the process of owning, growing, and even transitioning or selling your business together.

Make Win/Win Decisions Together

Big Picture Partnering™ is built on the notion that your business and its people should all come out winners. Achieving this is dependent on you, as leaders, coming together fully aligned as partners. Big Picture Business Partnering™ recognizes the unique skills and competencies of each partner. It provides communication skills and tools to foster the innovation and creativity that arises when two or more come together. It empowers partners to work together, to create win/win options that will work for each of you. Then it helps you provide the necessary guidance, resources and support so your entire team is laser-focused on chosen objectives and growth markers for your business.

 

Dr. Jan Hoistad

Business/Career/Executive Coach, Relationship Expert, Blogger, Author

When a business partnership is going well, it’s great. There’s energy, creativity, productivity. Differences put partnership stability to the test. Coming together as business partners pools connections, spreads financial risk, may increase the employee base, and expand the marketplace. Difference can feel like something resolvable together. But when experienced as threatening, it creates disconnection. If there is out-and-out conflict, a business partnership can quickly deteriorate and spread negativity like a virus throughout a team or company. Having the mindset, tools, and skills to navigate together is a necessity for a smooth functioning business and long-lasting partnership.  https://drjanhoistadpartners.com

 

2019-12-31T00:52:27+00:00