Two heads are generally better than one, especially when running a business. But not every business partnership is a match made in heaven.<\/p>\n
I\u2019m lucky because my business partner is my life partner, my husband Phil. But I\u2019ve learned many lessons about what makes for a successful partnership that every entrepreneur can apply, even if you\u2019re not married to one.<\/p>\n
One of us is creative and the other analytical (I\u2019ll let you guess who\u2019s who). It\u2019s important that you don\u2019t share identical skills as your partner, so each can be in charge of different areas of the business. Both should have equal power and share same amount of responsibilities even if you\u2019re not doing identical tasks.<\/p>\n
And on that note, make sure it is made abundantly clear which areas of the business each of you will manage. Sure, you both should be able to give input on major business decisions, but, for the day to day, you\u2019ll need to trust your partner to make all the decisions in the areas he or she is responsible for.<\/p>\n
I can\u2019t say enough about the importance that trust plays in a business partnership (or any partnership, for that matter). If you\u2019re shopping for business partners blindly, make sure you spend plenty of time getting to know them before you sign a contract legally binding you for the foreseeable future.<\/p>\n
Make one. It is absolutely imperative that you have your business partnership laid out in a legal and binding contract. Make sure to cover what will happen if one partner wants out of the business, gets sick, and other similar scenarios.<\/p>\n
You might have family members or friends clamoring to be a part of your company, but think twice before you mix business with blood. The last thing you want is the chance of destroying a personal relationship in the event that your business partnership goes south. But if you have someone who would genuinely make a good partner, go for it.<\/p>\n
This is especially important if you do partner with family or friends. Keep your personal life at home and business at the office. Your staff doesn\u2019t want to hear your family spat, and your kids don\u2019t want to hear about your work problems.<\/p>\n
If you don\u2019t feel your partner is living up to his or her end of the bargain, let them know. Don\u2019t be confrontational about it, but do make it clear that you have expectations and you need them to step up their game.<\/p>\n
When you\u2019re working with a partner, it\u2019s necessary to realize: It\u2019s not about either of you. It\u2019s about the business. So rather than try to be right in a given situation, decide what is the best course of action for your business.<\/p>\n
I can\u2019t stress how important it is that you respect your business partner. After all, being partners indicates that you\u2019re on the same team, and who else would you want to be team members with than someone you respect and trust?<\/p>\n
It\u2019s important to not pull the rug over issues and disagreements with your business partner. Rather, discuss and resolve them so they don\u2019t turn into larger resentment and affect your entire office.<\/p>\n
Having a business partner can be such a positive thing, so spend plenty of time making the decision to take one on. Keep the lines of communication open, and be adaptable.<\/p>\n","protected":false},"excerpt":{"rendered":"
Two heads are generally better than one, especially when running a business. But not every business partnership is a match made in heaven. I\u2019m lucky because my business partner is my life partner, my husband Phil. But I\u2019ve learned many lessons about what makes for a successful partnership that every entrepreneur can apply, even if […]<\/p>\n","protected":false},"author":1129,"featured_media":9175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-9173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\n