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(952) 922.9430|janhoistad@drjanhoistad.com

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 [...]

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 [...]

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 [...]

Choosing Among 4 Business Partnering Styles to Understand Their Impacts Your Business

Business partners work successfully together when they are coached to acknowledge individual differences but work toward common agreements. By doing so, they acquire the mindset, tools, and skills of a long-lasting and successful partnership. In this article, you’ll be introduced to four relationship styles entered into by business partners. In the four articles indicated throughout and at the end of this overview, each style will be discussed in greater detail. Unlike relationship therapy or counseling, coaching for relationship style empowers you with skills and tools so you start and stay aligned as business partners. This way you can focus on building your business together! Unconscious Assumptions and Expectations of Varying Relationship Styles Each business partnering style comes with conscious or unconscious assumptions and expectations. These in turn contribute in different ways to the communication and decision-making between the business partners or owners. These interpersonal aspects include: Feelings of ease, trust, respect, and the ability to count on one another. A sense of individual contribution, recognition, and loyalty. Ease and openness of communication. Invitation, support, and encouragement of unique perspectives as part of creative culture. A commitment to working on the “same team,” An attitude that “We can resolve anything together,” in navigating decisions and differences that impact personal satisfaction, as well as business success. Unique Differences Between Relationship Styles Each style is briefly analyzed along the following dimensions: The conscious or unconscious relationship mindset or perspective. This dimension is about ultimate decision-making power within the partnerships. It [...]

“When clients align and strategically move towards their goals it impacts all aspects of their business and life, moving them to the next level of freedom they’ve earned.”
-Dr. Jan Hoistad

Phone

(952) 922.9430

Email

janhoistad@drjanhoistad.com

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