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janhoistad@drjanhoistad.com

Coaching for Business Partners: 4 Times to Work with a Skilled Business Relationships Coach

Business partnerships have a lasting impact on how and where a business will grow. It takes clarity and communication to make it work. All parties understanding their responsibilities, fulfilling the expectations of the mutually agreed-upon objectives for growing the business. Establishing processes to maximize each other’s strengths, focusing on commonalities in values, and shared visions for business outcomes creates a foundation of trust from which to grow. Business partner and owner coaching lead to successful outcomes. Figuring out how to bring unique individuals together in a successful business partnership is the goal. Because when things are going well, there’s an almost indescribable energy. And when things are going well between you, it carries throughout your organization and all relationships. Together you create better. You communicate better. You work better. You play better. You just do it all better. - Jan Hoistad This article takes a look at coaching for business partners and breaks down 4 times when you need the expertise of an experienced Business Relationships Coach whether you've been in business for a while or just starting a new business. How To Make a Business Partnership Work Business Partner Case Study Focusing For Better Alignment and Successful Outcomes Preventing or Repairing Difficulties in Business Partnerships Summary If you’re looking for guidance on improving your relationships in the business world, you’ll find lots of information on developing sales and management or leadership styles. Some resources focus on aspects such as presence, empathy, confidence, and listening skills. Information on how these [...]

4 Steps to Frame a Change and Manage Your Team During a Transition Period Within Your Business

When business owners, business partners, and leaders learn to carefully frame a change for their team, group, or employees, they assume the position of role model and outline how they intend to approach the change, and how they expect others to respond and behave. This 4 Step approach to FRAME IT ensures greater success and more efficient outcomes. Unanticipated change within your company can elicit a wide range of emotional responses in you and your team. On one end of the continuum, change is sometimes met with enthusiasm if it's perceived as a positive. For example, if you provide increased healthcare or child care, or time off benefits, you will likely see relief, even joy, among your employees. Other types of changes however may be met with anxiety, even fear, when perceived as a threat to the status quo. This often occurs when there is a change of ownership when new leadership is brought on or there are shifts in roles and responsibilities. A third reaction to change in the work environment is a more neutral — a go with the flow, matter-of-fact, seemingly resilient response to shifts being implemented. This indicates the change is not threatening. No matter the size of your business, owners, business partners, group leaders, and team managers are faced with many demands in the work environment. Decisions made at these times roll out a series of change events for small business teams or for multiple business groups in a large organization. Success, for [...]

How to Run a Successful Business Together as Business Partners

As in all close interpersonal relationships, when business professionals are unaware of different relationship styles—without a compatible mindset, and set of tools, and skills they can use together—each partner individually reverts to what they know best. What they know best is typically unconscious, old, less functional, patterns. This article will tackle these three points of context and answer the following questions... What are the pitfalls of co-owning or operating a business with your partner Understanding the choices and consequences of relationship styles What are the four keys to a successful business partnership Like everyone else, put two business owners together and you’ll find some random combination of approaches to relating which can get them in trouble when faced with conflict and their styles are different. Married couples in business together can be doubly susceptible since they live and work together. I always say when partnerships (personal or professional) are going well, they are wonderful. It's when faced with conflict or disagreements that relationship style differences bring on a challenge to change. What originally feels like a positive connection becomes confusing. Responses that used to work no longer work. Without new information, people do not know how to work themselves out of this sticky situation on their own. They can push it under the rug, but typically it does not go away without being addressed. That's why many couples work with therapists or life coaches. In the world of work, business, and careers, having a business coach or business transformation consultant [...]

Coaching Helps to Evaluate the Next Stage of Your Career

  These past few years have catapulted some personal and professional lives forward. Yours may have been one of them. Especially if you were in the right industry at the right time. Or if you were lean, mean, and agile. Maybe you took the time to explore or add on a new skill that's paying off now, post-pandemic. You may even have have been one of the fortunates if your position was indispensable to the company. You'd have been a lucky one—staying on securely in the midst of other's cutbacks. Working from home (WFH) may have been seamless for you and your employer or your business. It was comfortable for many. Unless they shared a small space with mates and kids schooling on zoom. Pets roaming in and out. Yet many professionals and families settled in and are now weighing the consequences of employers reinstating back to the office or hybrid schedules. This shuffle is disrupting what may have become comfortable. Or you may be part of The Great Resignation 2021 an example of which is a record 4.4 million Americans who quit their jobs in September 2021. The trend continued through 2022 with another record 4.2 million voluntarily resigned in November 2022—millions more than anything ever seen before. With a backdrop of market slump and recession talk going on all that year.  This chart of U.S. Bureau of Labor Statistics highlights a continuing trend.   With fewer workers across many industries, the trend toward negotiating a high wage and [...]

Facing the Challenges of Taking on a Business Partner

When a solo-owner or entrepreneur knows that partnering is the next best business decision—be it for start-up, expansion, for future transition, or sale—paving the way with a well discussed, communicated, thought-out relating style is essential to avoid future conflicts. Consciously facing the need to come together with one or more business partners and pairing that with one's own strengths and weaknesses around communication and expectations demands clarity and choices about where change will be necessary—and just where it "ain't going to happen." Choosing the right business partner That's where an expert in both relationships and business comes in to guide you to help you clarify what you want in your business and how a business partner relationship fits your end goal. A business partner coach can then help you assess the candidates and coach you in discussions to ferret out that fit so you stay on track with your ultimate desired outcomes. Challenges of Communication in Business Partnerships The personality characteristics and strengths of the entrepreneur or business owner often run counter to, or do not co-exist well with, the needs of a mutual on-going working business partner relationship, let alone a binding partnership. It's a well-known fact that many (but not all) founder, owner, entrepreneurs are visionaries who follow their own drumbeat. They do not necessarily "play well with others." It's not that they don't care about others, it's that they tend to be self-focused on the business they develop. They want to be in control of [...]

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