Life is a journey and mine is taking me to the position of wanting to expand my horizons and do more, different and better. I love having helped those I have worked with personally and to some limited degree will be available to continue with a few private clients. However, I am feeling a strong desire to use my skills and experience to reach a far wider audience. I don't know where this part of my journey will take me, but I am excited to find out. I also know it's not only a destination, but the journey itself that is of great value.
I invite you to stay in touch. You can email me at dl@partnershipagreementspecialist.com, or call me at 323-931-7204.
You will still be able to order my extremely helpful tools for Business Partners and for those of you who want to know how to Stop Doing What You Hate - Start Doing What You Love, or how to take Joy Breaks.
AS A FINAL PARTING GIFT I am offering all my products at a 50% discount for one day only. PLEASE NOTE that the Prep Kit For Business Partners with the bonus of a free session with me will NOT be offered again. In the future, you will be able to buy the components separately, but I will not be offering them as a package anymore. Currently, the package sells for $497. But, with today’s special offer, you’ll get 50% off that price!
Go to http://www.coachingforyournextlevel.com/Products.html and enter the following coupon code: 50PERCENT
THIS OFFER ENDS IN 24 HOURS.
I hope that all of you are enjoying your journey and have developed the awareness that you are much more than you think you are.
My best wishes for your success and with love,
Dorene
Wednesday, July 28, 2010
Your Partner is Your Friend and So Lack of Sales Is Not the Problem
Often, I am asked, “should I be a partner with my friend, or relative?”. My answer is “maybe”, depending on a lot of details that I am not discussing here. Let’s assume the answer in your case is “yes”. Then, what are the particular challenges you will face?
The major one is that you will act out your friendship or relationship during the course of doing business. The way to avoid that is to structure business behavior in such a way that relegates your personal relationship to secondary status during business hours.
One married couple I coached solved this aspect of their business/marriage by making strict rules about the hours when business is conducted and when they are being a married couple.
They have scheduled business meetings on a regular basis with a clear business agenda. They even schedule an annual retreat to do the yearly reevaluation of where they’ve been and where they want to go.
Another partnership business owned by two friends, had been communicating very casually with each other about the business, when we began coaching. Their lack of clarity trickled down to employees who floundered rather than produced. They identified the problem as lack of sales, when, in fact, upon closer examination it became clear that the lack of sales was only a symptom of something more systemic. The problem was their friendship, which they put first throughout the day. They didn’t discuss their systems in a business-like manner, and as a result there were no clear instructions, expectations, or even numbers for their sales team.
Of course, once you know enough about each other and yourself, a partnership with a friend can be very successful. Take the steps I’ve been discussing in most of my newsletters to establish a clear-cut partnership agreement. Make sure your communication is detailed and very clear to avoid misinterpretations and misunderstandings. Keep your friendship second, and for after hours. Step into the role of leadership. Stay on top of all information about your business at every level.
Hire an expert to help you stay focused and point out your blind spots. And, enjoy your success!
The major one is that you will act out your friendship or relationship during the course of doing business. The way to avoid that is to structure business behavior in such a way that relegates your personal relationship to secondary status during business hours.
One married couple I coached solved this aspect of their business/marriage by making strict rules about the hours when business is conducted and when they are being a married couple.
They have scheduled business meetings on a regular basis with a clear business agenda. They even schedule an annual retreat to do the yearly reevaluation of where they’ve been and where they want to go.
Another partnership business owned by two friends, had been communicating very casually with each other about the business, when we began coaching. Their lack of clarity trickled down to employees who floundered rather than produced. They identified the problem as lack of sales, when, in fact, upon closer examination it became clear that the lack of sales was only a symptom of something more systemic. The problem was their friendship, which they put first throughout the day. They didn’t discuss their systems in a business-like manner, and as a result there were no clear instructions, expectations, or even numbers for their sales team.
Of course, once you know enough about each other and yourself, a partnership with a friend can be very successful. Take the steps I’ve been discussing in most of my newsletters to establish a clear-cut partnership agreement. Make sure your communication is detailed and very clear to avoid misinterpretations and misunderstandings. Keep your friendship second, and for after hours. Step into the role of leadership. Stay on top of all information about your business at every level.
Hire an expert to help you stay focused and point out your blind spots. And, enjoy your success!
Tuesday, June 22, 2010
Are you and your business partner at odds?
Are you avoiding meeting with your business partner? When you do, is there a lot of tension and everyone is left with hurt feelings? Even more importantly, when you have those conversations, do you leave with nothing accomplished and no decisions made?
You are damaging your business by having this continuous conflict with each other. The solution? Focus on the business – rather than yourselves and your issues with each other. To some, this might seem impossible, but it is a necessary change – unless you are ready to come up with an exit strategy and leave your business. The costs to ending a business are enormous – financial losses, legal costs, and emotional stress will all take a toll. When a business ends, it is not just the partners that suffer the loss – it is everyone from the partners’ families, employees, clients, vendors and even the community.
By focusing on the business – and checking your egos at the door – you are able to make sound, responsible decisions that are important to the success and profitability of your business. As a master business partnership coach, I suggest that my clients take all of the personal emotion and feelings out of these conversations. Another tip is to think of what you would advise someone else to do in that particular scenario – it helps tremendously to take the emotion out of it.
To avoid this – you have to do what it takes. There are conversations that are difficult to have on your own, so that is precisely when to engage an expert business partnership coach to help you have those conversations with each other. A business partnership coach will serve as an independent third party to your conversations. With a business partnership coach, all conversations remain confidential. Additionally, a coach can help you better understand the benefits – and – the consequences of the decisions you and your partner will make. Business owners who are serious about the success of their business invest in a coach to help make those decisions.
You are damaging your business by having this continuous conflict with each other. The solution? Focus on the business – rather than yourselves and your issues with each other. To some, this might seem impossible, but it is a necessary change – unless you are ready to come up with an exit strategy and leave your business. The costs to ending a business are enormous – financial losses, legal costs, and emotional stress will all take a toll. When a business ends, it is not just the partners that suffer the loss – it is everyone from the partners’ families, employees, clients, vendors and even the community.
By focusing on the business – and checking your egos at the door – you are able to make sound, responsible decisions that are important to the success and profitability of your business. As a master business partnership coach, I suggest that my clients take all of the personal emotion and feelings out of these conversations. Another tip is to think of what you would advise someone else to do in that particular scenario – it helps tremendously to take the emotion out of it.
To avoid this – you have to do what it takes. There are conversations that are difficult to have on your own, so that is precisely when to engage an expert business partnership coach to help you have those conversations with each other. A business partnership coach will serve as an independent third party to your conversations. With a business partnership coach, all conversations remain confidential. Additionally, a coach can help you better understand the benefits – and – the consequences of the decisions you and your partner will make. Business owners who are serious about the success of their business invest in a coach to help make those decisions.
Thursday, April 15, 2010
Don’t Ignore This Key Component Of A Successful Partnership
One of the perks of working with a partner is that work gets divided based on each partner’s complementary strengths. It is great to be able to take advantage of someone else’s creativity, knowledge and skills. It’s often a relief to have someone else work in an area that you don’t enjoy, but too often partners take that to mean they can ignore the area the other is in charge of. It is vast a mistake to take such an attitude.
It is extremely important that all the partners keep abreast of all the areas that are not directly theirs, and this particularly means finance. All partners involved need to be “in the know” about the other areas of the business – including project statuses, milestones, key vendors and budgets.
Now, this has nothing to do with not trusting your partner’s expertise. Too often, I have seen business partners discover that they don’t know the first thing about the company’s marketing strategy or hiring processes, and it always happens when they are in a critical situation.
There is one area where it is absolutely critical that each partner be directly and thoroughly involved with. The finances. Cash flow affects everything. Decisions that will affect cash flow need to me made with direct input from other partners. It is a bad idea if only one partner is aware of what is happening in the books.
Admittedly, monitoring cash flow is not everyone’s favorite job, but to be a successful, profitable business, cash flow needs to be discussed and monitored on a regular basis, at the very least, quarterly.
Imagine that you believed everything in your business was great. You weren’t sure what was going on with the finances, or client relations, but that was okay, because you assumed everyone was doing their jobs. You hadn’t bothered with regular partner meetings because again, you thought everything was great. Then, you lose your biggest client. You are not sure what direction the company will take. None of the partners are sure of what any of the other partners were doing – or did not do – to get here.
This happened to a couple of partners who came to me for private coaching. If there had been weekly reports and scheduled, quarterly coming together with the pieces of a complex business, they would have seen it coming. In that case, they would have no doubt prevented this.
Don’t think of your partner’s skills as an excuse for you to not be involved. Share the information on a regular, scheduled basis (I suggest weekly). Discuss the implications. I guarantee you will have a much smoother running machine, more efficiency, time and certainly profits if you each pay attention to the areas that are not your direct responsibility to manage. All of the areas are pieces of puzzle that should be in kept in place.
Here are some l tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95. www.coachingforyournextlevel.com .... click on business partners in the left menu.
F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
Invest in yourselves by purchasing the Blueprint package which includes the guidebook that walks you through the “What If” Scenarios. This process is an absolute necessity to help you create the partnership agreement and exit strategy that you must have in a successful partnership.
The 7C's Danger Signs to Avoid will help you talk about all of those issues that need addressing before the resentment builds and becomes unmanageable.
Other bonuses include Joy Breaks, a series of cd interviews with experts you will need on your team and my well-known guide "Stop Doing What You Hate Start Doing What You Love".
Order the whole package at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very great return on this small investment. Payment plans are also available.
If you are a business coach to partnership entrepreneurs you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
More tools to come.... You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
It is extremely important that all the partners keep abreast of all the areas that are not directly theirs, and this particularly means finance. All partners involved need to be “in the know” about the other areas of the business – including project statuses, milestones, key vendors and budgets.
Now, this has nothing to do with not trusting your partner’s expertise. Too often, I have seen business partners discover that they don’t know the first thing about the company’s marketing strategy or hiring processes, and it always happens when they are in a critical situation.
There is one area where it is absolutely critical that each partner be directly and thoroughly involved with. The finances. Cash flow affects everything. Decisions that will affect cash flow need to me made with direct input from other partners. It is a bad idea if only one partner is aware of what is happening in the books.
Admittedly, monitoring cash flow is not everyone’s favorite job, but to be a successful, profitable business, cash flow needs to be discussed and monitored on a regular basis, at the very least, quarterly.
Imagine that you believed everything in your business was great. You weren’t sure what was going on with the finances, or client relations, but that was okay, because you assumed everyone was doing their jobs. You hadn’t bothered with regular partner meetings because again, you thought everything was great. Then, you lose your biggest client. You are not sure what direction the company will take. None of the partners are sure of what any of the other partners were doing – or did not do – to get here.
This happened to a couple of partners who came to me for private coaching. If there had been weekly reports and scheduled, quarterly coming together with the pieces of a complex business, they would have seen it coming. In that case, they would have no doubt prevented this.
Don’t think of your partner’s skills as an excuse for you to not be involved. Share the information on a regular, scheduled basis (I suggest weekly). Discuss the implications. I guarantee you will have a much smoother running machine, more efficiency, time and certainly profits if you each pay attention to the areas that are not your direct responsibility to manage. All of the areas are pieces of puzzle that should be in kept in place.
Here are some l tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95. www.coachingforyournextlevel.com .... click on business partners in the left menu.
F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
Invest in yourselves by purchasing the Blueprint package which includes the guidebook that walks you through the “What If” Scenarios. This process is an absolute necessity to help you create the partnership agreement and exit strategy that you must have in a successful partnership.
The 7C's Danger Signs to Avoid will help you talk about all of those issues that need addressing before the resentment builds and becomes unmanageable.
Other bonuses include Joy Breaks, a series of cd interviews with experts you will need on your team and my well-known guide "Stop Doing What You Hate Start Doing What You Love".
Order the whole package at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very great return on this small investment. Payment plans are also available.
If you are a business coach to partnership entrepreneurs you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
More tools to come.... You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
Monday, April 5, 2010
What Is The Cost of Ignoring the Basics in A Business Partnership?
Business partners often call me and complain. It’s my job to listen , provide suggestions and coach them to the solution. What are they complaining about? Most often they see themselves doing much more work than their partner – putting in longer hours, working weekends. They lose trust in the partner. They resent them. They want out.
Why do people wait for a crisis to happen before they get help? Why are partners so afraid to examine their relationship in the beginning? That could be the reason 70% of business partnerships fail. They not only lose their investment – but they can damage relationships with family, friends, clients and employees.
They fear to discover what they hope is not true. They want to avoid knowing or admitting the things that may hinder the dream of owning a business. As a result, they choose to live with the anger and let the resentment increase inwardly. But in fact, it is the avoidance itself that will cause the loss. I like to compare resentment to a tooth cavity. It won’t disappear on its own and will get worse if not treated.
When my clients work with me, and openly talk about what is making them so angry they discover the issue is usually resolvable and not nearly as big as they felt it to be. Our unspoken fears seem far bigger than they actually are in reality.
It is my mission in life to do everything I can to save business partnership relationships. Because I can only privately coach a limited number of clients, I have created unique do-it-yourself tools that can be used easily by partners. I have products to meet every budget.
Let me know what is causing you fear in your business partnership!
"Never let the fear of striking out get in your way." - George Herman "Babe" Ruth
Here are some l tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95. www.coachingforyournextlevel.com .... click on business partners in the left menu.
F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
Invest in yourselves by purchasing the Blueprint package which includes the guidebook that walks you through the “What If” Scenarios. This process is an absolute necessity to help you create the partnership agreement and exit strategy that you must have in a successful partnership.
The 7C's Danger Signs to Avoid will help you talk about all of those issues that need addressing before the resentment builds and becomes unmanageable.
Other bonuses include Joy Breaks, a series of cd interviews with experts you will need on your team and my well-known guide "Stop Doing What You Hate Start Doing What You Love".
Order the whole package at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very great return on this small investment. Payment plans are also available.
If you are a business coach to partnership entrepreneurs you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
More tools to come.... You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
Why do people wait for a crisis to happen before they get help? Why are partners so afraid to examine their relationship in the beginning? That could be the reason 70% of business partnerships fail. They not only lose their investment – but they can damage relationships with family, friends, clients and employees.
They fear to discover what they hope is not true. They want to avoid knowing or admitting the things that may hinder the dream of owning a business. As a result, they choose to live with the anger and let the resentment increase inwardly. But in fact, it is the avoidance itself that will cause the loss. I like to compare resentment to a tooth cavity. It won’t disappear on its own and will get worse if not treated.
When my clients work with me, and openly talk about what is making them so angry they discover the issue is usually resolvable and not nearly as big as they felt it to be. Our unspoken fears seem far bigger than they actually are in reality.
It is my mission in life to do everything I can to save business partnership relationships. Because I can only privately coach a limited number of clients, I have created unique do-it-yourself tools that can be used easily by partners. I have products to meet every budget.
Let me know what is causing you fear in your business partnership!
"Never let the fear of striking out get in your way." - George Herman "Babe" Ruth
Here are some l tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95. www.coachingforyournextlevel.com .... click on business partners in the left menu.
F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
Invest in yourselves by purchasing the Blueprint package which includes the guidebook that walks you through the “What If” Scenarios. This process is an absolute necessity to help you create the partnership agreement and exit strategy that you must have in a successful partnership.
The 7C's Danger Signs to Avoid will help you talk about all of those issues that need addressing before the resentment builds and becomes unmanageable.
Other bonuses include Joy Breaks, a series of cd interviews with experts you will need on your team and my well-known guide "Stop Doing What You Hate Start Doing What You Love".
Order the whole package at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very great return on this small investment. Payment plans are also available.
If you are a business coach to partnership entrepreneurs you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
More tools to come.... You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
Monday, March 22, 2010
The Most Important Thing Your Partnership Needs
The most important thing your partnership needs is a partnership agreement. The partners that I coach in my business all had good intentions when they entered the partnership, and because they trusted and liked each other, many sealed the deal with a handshake. Unfortunately, that is not a great idea. It’s not even a matter of being untrustworthy, but rather coming to a clear understanding that is in writing. People mean different things even using the same words. Once it is written it should be revisited at least once a year and can be revised if it no longer is serving you. But at least it eliminates an “I said, you said scenario” which happens with the best of intentions.
As I have told you before, the alarming statistic is that 70% of business partnerships fail. My mission is to save more and more business partnerships each year. Part of achieving that mission is encouraging you to create an agreement with your partner before you move one step further in the business.
A partnership agreement allows you to structure your relationship with your partner for the long haul. You and your partner can establish amount of profits (and losses) each of you will take, the management responsibilities of each partner, the financial responsibilities, what will happen in the event someone leaves the business, and other important issues. While I hope you never have to take the agreement to court, it is a great tool to use as you live your business, from the beginning to the exit strategies.
Below, find my 6 must-haves for your business partnership agreement.
1. Financial contributions by the partners.
These should include the amount of equity invested by each partner, how profits and loss will be shared and the pay and compensation of eachpartner.It's critical that you and your partner work out and record who's going to contribute cash, assets, or professional services to the business before it opens. Outline these things very specifically. Disagreements over contributions and compensation have doomed many promising businesses.
2. Restrictions of authority and expenditures.
Without an agreement that outlines the authority of each partner, any partner can bind the partnership (for example - signing a contract with a vendor or incurring a debt for new equipment) without the consent of other partners. Decide how decisions about expenditures will be made and how they will be authorized.
3. Duties and responsibilities.
You would be wise to outline these duties in advance - think of it as writing a job description. Who is in charge of accounting? Who is in charge of hiring employees and negotiating salaries? Who is in charge of vendor management? Go through the day to day operational needs, and make sure everything is covered. Make sure to utilize each other's strengths.
4. Provisions for admitting new partners.
My hope is that your business grows and grows, so you may want to eventually bring in new partners. Agree now on a process for bringing in new partners.
5. Dispute settlement strategy.
It is vital to have a plan of resolution in the case of a stalemate between you. Some options used by others are a 49/51 split in the different areas of expertise, for example the one who is most responsible for this area of your business decides. Or you may call in an expert in the field, if not actually to decide, at least to advise. A coach or mediator might by used. You can even decide to flip a coin, but make sure whatever you decide is written in your agreement. You can always change it, but have something there that you discussed and decided.
6. Have an exit strategy.
An exit strategy should include settlement due to personal injury or death. How assets will be distributed upon dissolution. What if one of you wants to retire and retain ownership or on the other hand be bought out? How is ownership retained by the remaining partner? Discuss every possible What IF Scenario that you can think of.
Please let me know if you have any questions that I can answer for you!
PS - Is there anything that you had in your partnership agreement that you believe was either beneficial or harmful to your success? Let me know and I will share it with my readers.
Best wishes,
Dr. Dorene Lehavi
PS You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make it a success. Use my Blueprint Package’s What If Scenario Handbook to help you create a dynamite partnership agreement unique only to you. See the whole package at www.businesspartnershipsolutions.com.
As I have told you before, the alarming statistic is that 70% of business partnerships fail. My mission is to save more and more business partnerships each year. Part of achieving that mission is encouraging you to create an agreement with your partner before you move one step further in the business.
A partnership agreement allows you to structure your relationship with your partner for the long haul. You and your partner can establish amount of profits (and losses) each of you will take, the management responsibilities of each partner, the financial responsibilities, what will happen in the event someone leaves the business, and other important issues. While I hope you never have to take the agreement to court, it is a great tool to use as you live your business, from the beginning to the exit strategies.
Below, find my 6 must-haves for your business partnership agreement.
1. Financial contributions by the partners.
These should include the amount of equity invested by each partner, how profits and loss will be shared and the pay and compensation of eachpartner.It's critical that you and your partner work out and record who's going to contribute cash, assets, or professional services to the business before it opens. Outline these things very specifically. Disagreements over contributions and compensation have doomed many promising businesses.
2. Restrictions of authority and expenditures.
Without an agreement that outlines the authority of each partner, any partner can bind the partnership (for example - signing a contract with a vendor or incurring a debt for new equipment) without the consent of other partners. Decide how decisions about expenditures will be made and how they will be authorized.
3. Duties and responsibilities.
You would be wise to outline these duties in advance - think of it as writing a job description. Who is in charge of accounting? Who is in charge of hiring employees and negotiating salaries? Who is in charge of vendor management? Go through the day to day operational needs, and make sure everything is covered. Make sure to utilize each other's strengths.
4. Provisions for admitting new partners.
My hope is that your business grows and grows, so you may want to eventually bring in new partners. Agree now on a process for bringing in new partners.
5. Dispute settlement strategy.
It is vital to have a plan of resolution in the case of a stalemate between you. Some options used by others are a 49/51 split in the different areas of expertise, for example the one who is most responsible for this area of your business decides. Or you may call in an expert in the field, if not actually to decide, at least to advise. A coach or mediator might by used. You can even decide to flip a coin, but make sure whatever you decide is written in your agreement. You can always change it, but have something there that you discussed and decided.
6. Have an exit strategy.
An exit strategy should include settlement due to personal injury or death. How assets will be distributed upon dissolution. What if one of you wants to retire and retain ownership or on the other hand be bought out? How is ownership retained by the remaining partner? Discuss every possible What IF Scenario that you can think of.
Please let me know if you have any questions that I can answer for you!
PS - Is there anything that you had in your partnership agreement that you believe was either beneficial or harmful to your success? Let me know and I will share it with my readers.
Best wishes,
Dr. Dorene Lehavi
PS You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make it a success. Use my Blueprint Package’s What If Scenario Handbook to help you create a dynamite partnership agreement unique only to you. See the whole package at www.businesspartnershipsolutions.com.
Monday, March 15, 2010
The Importance of a Partnership Agreement
For many people entering into a business partnership, the only agreement they have between them is a handshake and good intentions. They are too busy creating a business plan and brainstorming about the future of their venture to care very much about what might happen to their business relationship in the future. Others are a little more forward thinking and find themselves a generic, legal sounding partnership contract online and print that out and sign it.
The one thing that many new business partners overlook is the importance of discussion and real honest communication before the partnership is officially forged and the necessity of creating a partnership agreement that is tailored specifically to their company and addresses all the issues it needs to.
Creating such an agreement calls for both partners to ask themselves, and each other, a series of rather searching questions and then answer them honestly. What would happen in the future should one partner wish to sell the business? Who is actually responsible for what? How will disputes that arise be mediated?
They should also take the time to examine their differences in values, ethics and personality and how those things could affect the success of the partnership in the future. Of the 70% of business partnerships that are born to fail many of them do so due to differences in opinion and unresolved conflicts rather than an actual problem with the business itself. When drawing up a partnership agreement remember that although you cannot predict the future, you can try to ensure that you plan for the unexpected as completely as you possibly can.
The one thing that many new business partners overlook is the importance of discussion and real honest communication before the partnership is officially forged and the necessity of creating a partnership agreement that is tailored specifically to their company and addresses all the issues it needs to.
Creating such an agreement calls for both partners to ask themselves, and each other, a series of rather searching questions and then answer them honestly. What would happen in the future should one partner wish to sell the business? Who is actually responsible for what? How will disputes that arise be mediated?
They should also take the time to examine their differences in values, ethics and personality and how those things could affect the success of the partnership in the future. Of the 70% of business partnerships that are born to fail many of them do so due to differences in opinion and unresolved conflicts rather than an actual problem with the business itself. When drawing up a partnership agreement remember that although you cannot predict the future, you can try to ensure that you plan for the unexpected as completely as you possibly can.
Friday, March 12, 2010
Collage and the Art of Teambuilding
Every hiring manager, every human resources specialist and in fact every boss will wax lyrical these days about the importance of teamwork in the workplace. Every resume that crosses their desks probably includes a line or two about how well the candidate works within a team as well. But it takes a great deal of work to build a truly successful business team and in many cases it is talked about more than it is actually worked on.
A lack of teamwork – or worse still a team that cannot come together – can sink any business venture, no matter the niche. For instance there may be a great deal of enthusiasm and creativity within a team that could propel the business to a whole new level, but a lack of trust between team members or an inability to communicate with one another effectively means that those brilliant ideas may never see the light of day, let alone be acted upon.
There are hundreds of books, workshops and training courses available on the subject of team building the workplace many of them offering the same advice. In order to make a team really work sometimes though it pays to think outside the box a little and engage the team in an activity, or activities that while they may not seem business related on the surface actually can bring a team together more successfully than anything else.
The art of collage has been around since paper was first invented in China somewhere around 200BC. Cultures from all eras and across the globe have used the technique to express their artistic visions and believe it or not creating a collage can be an exercise in team building that works wonders.
Why does it work? Every team member has a role and can participate. The personal choices that each individual makes as the work is created can reveal much more about their individual thought processes and feelings than a weekly board room meeting ever could and once the collage is finished it also serves as a lasting physical reminder of what the team can achieve when they pool their creative resources.
A lack of teamwork – or worse still a team that cannot come together – can sink any business venture, no matter the niche. For instance there may be a great deal of enthusiasm and creativity within a team that could propel the business to a whole new level, but a lack of trust between team members or an inability to communicate with one another effectively means that those brilliant ideas may never see the light of day, let alone be acted upon.
There are hundreds of books, workshops and training courses available on the subject of team building the workplace many of them offering the same advice. In order to make a team really work sometimes though it pays to think outside the box a little and engage the team in an activity, or activities that while they may not seem business related on the surface actually can bring a team together more successfully than anything else.
The art of collage has been around since paper was first invented in China somewhere around 200BC. Cultures from all eras and across the globe have used the technique to express their artistic visions and believe it or not creating a collage can be an exercise in team building that works wonders.
Why does it work? Every team member has a role and can participate. The personal choices that each individual makes as the work is created can reveal much more about their individual thought processes and feelings than a weekly board room meeting ever could and once the collage is finished it also serves as a lasting physical reminder of what the team can achieve when they pool their creative resources.
Wednesday, March 10, 2010
Partnership Pitfalls
Imagine this scenario: Two Ivy League college friends barely in their twenties create a website that lights up first their own institution and later the world. They have little in the way of formal business training, just a killer idea and a great deal of drive and vision. One of them goes on to become one of the biggest names in the social media revolution but the other literally has to sue to even be recognized as a cofounder and still receives little in the way of recognition for his contributions.
This is actually a real story- that of the men who created Facebook, the social network that has changed the way people of all ages and from all walks of life communicate. Mark Zuckerberg is the man who is always credited with being the “face behind Facebook” however he had partners in the venture, but bickering and infighting led to one of them – Eduardo Saverin – being frozen out.
According to popular lore the two have finally made a truce and Saverin now officially listed as a founder of the social networking giant. Another rumor is that Mr Zuckerberg had no choice but to make nice with his former friend because Mr Saverin was considering cooperating with a director intending to produce an unflattering movie about the early years of Facebook.
The lesson here is that business partnerships of any kind have to be planned and thought out right from the start. By all accounts in 2004 Mark and Eduardo were the best of friends and as such I am sure that they thought there would never be the kinds of problems between them that occurred, just as it is unlikely that either of them could have imagined how huge their venture would become. They allowed their differences to become public knowledge instead of trying to solve them amicably and the dispute will always be a blight on the company’s history, however successful it may be.
Partnering is powerful because the whole is worth more than the sum of the parts. However, it can also cause problems. Planning and communication may be the solutions.
This is actually a real story- that of the men who created Facebook, the social network that has changed the way people of all ages and from all walks of life communicate. Mark Zuckerberg is the man who is always credited with being the “face behind Facebook” however he had partners in the venture, but bickering and infighting led to one of them – Eduardo Saverin – being frozen out.
According to popular lore the two have finally made a truce and Saverin now officially listed as a founder of the social networking giant. Another rumor is that Mr Zuckerberg had no choice but to make nice with his former friend because Mr Saverin was considering cooperating with a director intending to produce an unflattering movie about the early years of Facebook.
The lesson here is that business partnerships of any kind have to be planned and thought out right from the start. By all accounts in 2004 Mark and Eduardo were the best of friends and as such I am sure that they thought there would never be the kinds of problems between them that occurred, just as it is unlikely that either of them could have imagined how huge their venture would become. They allowed their differences to become public knowledge instead of trying to solve them amicably and the dispute will always be a blight on the company’s history, however successful it may be.
Partnering is powerful because the whole is worth more than the sum of the parts. However, it can also cause problems. Planning and communication may be the solutions.
Sunday, March 7, 2010
My Mission to Save Business Partnerships Everywhere – By First, Asking the Right Questions
70% of all partnerships fail, usually ending in miserable and very costly emotional and financial conflict.
In my 25 years of experience, I have found that the issues facing business partners each day are not unique, but the individuals who make up the partnership are. Smart partners get the guidance they need before getting too deep into the relationship and business.
If you simply honestly and candidly ask and answer these questions at the start of your business partnership – or later on if you skipped them – you can save yourself from a miserable and costly end.
1.What part do I want this business to play in my life?
2.Why do/did I want a partner?
3.Do I trust and respect my partner?
4.Have we written a business plan including detailed job descriptions for each of us?
5.Have we talked about every possible What IF Scenario* www.businesspartnershipsolutions.com and addressed them into a partnership agreement based on both our business and personal visions and intents?
6.Have we discussed, written and signed an exit strategy that includes every scenario we can envision?
7.Do we show up without fail for a meeting once a week at least?
Here are some tools to help you to fill in the gaps and ensure the success of your business partnership relationship.
1. If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95.
www.coachingforyournextlevel.com .... click on business partners in the left menu.
2. F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
3. Invest in yourselves by purchasing the Blueprint package including the “What If” Scenarios, the 7C's Danger Signs to Avoid and other bonuses. See the description at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very worthwhile return on this small investment.
4. If you have had an ongoing successful partnership schedule a one session Annual Tune Up with me to identify blind spots and nip any problems in the bud.
5. If you are a business coach to entrepreneurs who may be in a partnership or considering one, you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
Watch for more tools. You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions to me.
My best wishes for your success,
Dorene
info@businesspartnershipsolutions.com
In my 25 years of experience, I have found that the issues facing business partners each day are not unique, but the individuals who make up the partnership are. Smart partners get the guidance they need before getting too deep into the relationship and business.
If you simply honestly and candidly ask and answer these questions at the start of your business partnership – or later on if you skipped them – you can save yourself from a miserable and costly end.
1.What part do I want this business to play in my life?
2.Why do/did I want a partner?
3.Do I trust and respect my partner?
4.Have we written a business plan including detailed job descriptions for each of us?
5.Have we talked about every possible What IF Scenario* www.businesspartnershipsolutions.com and addressed them into a partnership agreement based on both our business and personal visions and intents?
6.Have we discussed, written and signed an exit strategy that includes every scenario we can envision?
7.Do we show up without fail for a meeting once a week at least?
Here are some tools to help you to fill in the gaps and ensure the success of your business partnership relationship.
1. If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95.
www.coachingforyournextlevel.com .... click on business partners in the left menu.
2. F*REE GIFTS FOR BUSINESS PARTNERS. Are you considering one or are you in one already? Take my FREE Business Partnership Assessment and receive 3 FREE bonus interviews (mp3s) from my Successful Partnership Series. Find out from others what they do to ensure their success. Immediate download. http://www.businesspartnershipsuccess.com/
3. Invest in yourselves by purchasing the Blueprint package including the “What If” Scenarios, the 7C's Danger Signs to Avoid and other bonuses. See the description at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very worthwhile return on this small investment.
4. If you have had an ongoing successful partnership schedule a one session Annual Tune Up with me to identify blind spots and nip any problems in the bud.
5. If you are a business coach to entrepreneurs who may be in a partnership or considering one, you can use these tools in your coaching to ensure that the pitfalls in the partnership relationship do not sabotage the business. Become an affiliate and provide your clients with the Blueprint package to use with your coaching.
Watch for more tools. You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make sure it succeeds.
Feel free to email your comments and questions to me.
My best wishes for your success,
Dorene
info@businesspartnershipsolutions.com
Thursday, February 25, 2010
Business Partners Resolve Conflict
When partners avoid each other the atmosphere of being in conflict is increased even where no conflict exists. Once they get back to regular communication and at least weekly scheduled meetings with an agenda, they will probably find a lot more agreement than disagreement. If they can't get past a stalemate, it's wise not to escalate the arguing, but to find a third person to facilitate them in crafting a win/win resolution.
Friday, February 19, 2010
Have you had any success with a lazy partner to get them to work?
Share your ideas with others. If he/she continues to slack how will it affect the future of your relationship and the business? Can you live with it?
Thursday, February 18, 2010
Was it not really a disagreement?
Did you and your partner avoid speaking about something because you thought you were in a stalemate about it? When you finally did talk about it you found you were really on the same page. I would love to hear about your experience.
Wednesday, February 17, 2010
Discover secrets of successful business partnerships
Hear three interviews of successful partnerships and adapt some of their practices into your own. FREE at www.businesspartnershipsuccess.com. Included is an assessment of your own partnership.
Tuesday, February 16, 2010
Dorene- Thank you for being a guest on our weekly training at Businesscoach.com.
We really enjoyed your presentation and I love the Blueprint package. I will be using the Blueprint when coaching my partner clients in the future. I see your Blueprint package as a must when working with partners in any business environment. I really admire your work and see you as a Master of working with partnerships. You truly understanding how to help partnerships navigate through tough times and point them in a positive direction.
Best wishes, Coach Gary
Gary B. Henson, President
BusinessCoach.com
Saturday, February 13, 2010
Which partner is responsible?
If you have a business partner or partners, each of you may own a percentage of the business. However, you should each consider yourself 100% responsible for it. Don't look for ways to pass the buck. Everyone must be ready to do what is needed or find another solution. It's not about each partner as a separate entity. It's about the collaborative relationship and the business.
Friday, February 12, 2010
Calling all business coaches
I'm calling on all business coaches to help me help business partnerships succeed. Together we can change the high rate of failure in partnerships. Ignoring the relationship between the partners can sabotage all the other work you do with them. As a business coach you can distinguish yourself by adding this extra benefit to your coaching program for those in partnerships. To learn how check out my Blueprint package at www.businesspartnershipsolutions.com
Monday, February 8, 2010
BUSINESS PARTNERS: ONE CONTROLS/ ONE IS CONTROLLED
Most people refer to controlling behavior as negative. It can definitely be. But believe it or not, the traits that make a person controlling often are highly desirable, such as being focused, detail oriented, making quick decisions, seeing things clearly, and acting with efficiency. If, however, controlling people neglect to pay attention to the impact their behavior has on others, relationships will begin to deteriorate. Controlling behavior becomes negative and damaging when the controller doesn’t focus some control on their own behavior.
Controlling people want to have things done their way, no matter what and as a result they close off the views, ideas and creativity of others. In a partnership where the relationship is of key importance, one person cannot be in charge all of the time. Unless this is part of the agreement between them (and this is not likely), chances are the partnership will soon be in jeopardy.
Beyond the partnership itself, controlling behavior in general is incongruent with the goals of growth, expansion and creativity. No matter how creative the controlling person is, this type of behavior is constrictive rather than expansive.
WOULD YOU LIKE TO CHANGE THE DYNAMIC?
It can be a challenge for controllers to accept options and ambiguity, but in the end, if they can train themselves to accept shades of gray instead of black and white, the world of possibilities expands.
If you are a controlling personality, use your ability to control your own behavior, especially in regards to others. Start by beginning to notice how others, especially your partner(s) experience your behavior and how they feel when you attempt to control. You might even ask them. Take some time to consider everything from the other person's point of view. It's called good listening and empathy. It's a willingness to understand the other and to accept the fact that there is more than one right way to do things. Doing this does not mean you both or all won’t decide to do it your way. It simply brings respect into the relationship, an absolute necessary element for successful partnerships.
Have conversations about this dynamic of control in a matter of fact manner. Stop the conversation if it becomes argumentative and emotional. If it is too difficult to have the discussions hire a coach to facilitate. This minimal investment can go a long way to help your relationship succeed.
MORE SUGGESTIONS:
Develop a willingness to try someone else's ideas. Start with something small.
Think of a time when you didn't get your way and the outcome was ok.
Think of a time when you got your way and it didn't work out that well.
The 7C’s Danger Signs guidebook in my Blueprint package for a successful partnership will help you overcome many of the dangerous practices in your partnership relationship. See it at http://www.businesspartnershipsolutions.com
Controlling people want to have things done their way, no matter what and as a result they close off the views, ideas and creativity of others. In a partnership where the relationship is of key importance, one person cannot be in charge all of the time. Unless this is part of the agreement between them (and this is not likely), chances are the partnership will soon be in jeopardy.
Beyond the partnership itself, controlling behavior in general is incongruent with the goals of growth, expansion and creativity. No matter how creative the controlling person is, this type of behavior is constrictive rather than expansive.
WOULD YOU LIKE TO CHANGE THE DYNAMIC?
It can be a challenge for controllers to accept options and ambiguity, but in the end, if they can train themselves to accept shades of gray instead of black and white, the world of possibilities expands.
If you are a controlling personality, use your ability to control your own behavior, especially in regards to others. Start by beginning to notice how others, especially your partner(s) experience your behavior and how they feel when you attempt to control. You might even ask them. Take some time to consider everything from the other person's point of view. It's called good listening and empathy. It's a willingness to understand the other and to accept the fact that there is more than one right way to do things. Doing this does not mean you both or all won’t decide to do it your way. It simply brings respect into the relationship, an absolute necessary element for successful partnerships.
Have conversations about this dynamic of control in a matter of fact manner. Stop the conversation if it becomes argumentative and emotional. If it is too difficult to have the discussions hire a coach to facilitate. This minimal investment can go a long way to help your relationship succeed.
MORE SUGGESTIONS:
Develop a willingness to try someone else's ideas. Start with something small.
Think of a time when you didn't get your way and the outcome was ok.
Think of a time when you got your way and it didn't work out that well.
The 7C’s Danger Signs guidebook in my Blueprint package for a successful partnership will help you overcome many of the dangerous practices in your partnership relationship. See it at http://www.businesspartnershipsolutions.com
Monday, January 25, 2010
Are You A Solo Looking For a Partner?
Perhaps you started a business a while ago and it is going well for the most part, but you decided that you’d like not going it alone.
Maybe you have connected with someone who could be a potential partner. You may have actually met on the tennis court and found that you have some common interests beyond sports.
You arrange to meet for lunch and talk business. In the process you both discover that your business and career goals seem to line up. He likes what you do and is looking to make a move. And, you see someone who can inject some needed capital and even brings skills that, for now, are a little thin in your business.
You arrange to talk again soon. You both are moving ahead emotionally about becoming partners and it looks like the “planning the wedding stage” is gaining momentum.
While your new partner may be inclined to invest the same amount of money that you originally put in, in order to be an equal partner, there are certain considerations that must be faced first.
You know how it feels to be in this business. Your new partner only has an imagined idea of it.
You feel ownership and no matter how happy you are to have a partner, there can be times that you will feel that the business is really your baby. So besides all of the issues that need to be discussed, agreed upon, and written clearly in a start up partnership agreement, in this case additional questions have to be answered.
Here are some of the things you need consider:
Make different arrangements about ownership with this new partner. A trial period can be a very good idea. The reasons are that you haven’t had the time to know each other in the context of working on and in the business. Your new partner won’t know for a few months or longer if he actually enjoys it, and neither of you will know if you like working together for awhile.
If a new partner walks into half ownership by way of whatever agreement you made and then wants to leave in 6 months, he could still retain his share. That might leave you owning half of your business. Discussing and making decisions about buy-backs, equity retention, and other implications is where I advise you to retain high caliber (not necessarily the most expensive) legal and financial advisors.
It is wise not to plan the wedding before you both have answered the 15 Questions which will help you know if you are a potential good match.
Go to http://www.businesspartnershipsuccess.com/ to sign up.
If you decide to move ahead invest the small sum in my Blueprint package where you both will be guided to discuss areas of vulnerability and to decide on as many What IF Scenarios that you can be think of early on.
Go to http://www.businesspartnershipsolutions.com/
The more foundation work you do upfront the more your likelihood to succeed as partners will increase.
Resolve differences or discover early on that you are not a match and remain good tennis buddies.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
Maybe you have connected with someone who could be a potential partner. You may have actually met on the tennis court and found that you have some common interests beyond sports.
You arrange to meet for lunch and talk business. In the process you both discover that your business and career goals seem to line up. He likes what you do and is looking to make a move. And, you see someone who can inject some needed capital and even brings skills that, for now, are a little thin in your business.
You arrange to talk again soon. You both are moving ahead emotionally about becoming partners and it looks like the “planning the wedding stage” is gaining momentum.
While your new partner may be inclined to invest the same amount of money that you originally put in, in order to be an equal partner, there are certain considerations that must be faced first.
You know how it feels to be in this business. Your new partner only has an imagined idea of it.
You feel ownership and no matter how happy you are to have a partner, there can be times that you will feel that the business is really your baby. So besides all of the issues that need to be discussed, agreed upon, and written clearly in a start up partnership agreement, in this case additional questions have to be answered.
Here are some of the things you need consider:
Make different arrangements about ownership with this new partner. A trial period can be a very good idea. The reasons are that you haven’t had the time to know each other in the context of working on and in the business. Your new partner won’t know for a few months or longer if he actually enjoys it, and neither of you will know if you like working together for awhile.
If a new partner walks into half ownership by way of whatever agreement you made and then wants to leave in 6 months, he could still retain his share. That might leave you owning half of your business. Discussing and making decisions about buy-backs, equity retention, and other implications is where I advise you to retain high caliber (not necessarily the most expensive) legal and financial advisors.
It is wise not to plan the wedding before you both have answered the 15 Questions which will help you know if you are a potential good match.
Go to http://www.businesspartnershipsuccess.com/ to sign up.
If you decide to move ahead invest the small sum in my Blueprint package where you both will be guided to discuss areas of vulnerability and to decide on as many What IF Scenarios that you can be think of early on.
Go to http://www.businesspartnershipsolutions.com/
The more foundation work you do upfront the more your likelihood to succeed as partners will increase.
Resolve differences or discover early on that you are not a match and remain good tennis buddies.
Feel free to email your comments and questions. info@businesspartnershipsolutions.com
Monday, January 11, 2010
Your Partnership is Great...You Say. Here's How You Can Be Sure.
You may actually be in a pretty good partnership, even one that's lasted for years. So why do I suggest that you take a closer look anyway, with the help of a coach, at least once a year?
Having a third party expert review the way you function as a partnership will bring to light the blind spots. And, believe me, they are there. We can't see ourselves objectively. It is the same reason the greatest athletes need a coach to point out weak spots. A golfer, for example, cannot see his/her own swing.
We often get in the habit of maintaining a facade that "everything's ok". It is often easier to ignore conversations about potentially uncomfortable Issues. However, this can very detrimental to the health of the partnership in the long run.
This type of check up session will enable the small annoyances or "slight" resentments that are there to be brought out in a safe environment so they can be dealt with in a friendly, healthy manner and nipped in the bud. Resentments tend to fester if they are not addressed. Maybe the festering will be slow enough to go unnoticed. However, many seemingly successful, long-lasting partnerships have ended painfully and expensively in court. Resentments fester beyond repair if ignored. A check up session at regular intervals, once or twice a year, can prevent that from happening.
Periodically coaching of a functioning partnership also helps to identify ways in which partners deal well with the business issues and with each. When you know what you are doing right, you can consciously put those methods in your toolbox, build on them and pull them out when things get a little rough. In the process, additional new and even better ways can be created and strategized. There is always room to improve. If you can't see what you are doing wrong, you may also miss what you are doing right.
The most important tool to successful partnership relationships is to communicate. That is a word that merits definition. Communication, for the most part, is effective listening. The goal is not to make your case, or to get your way, but to really deeply hear and respect your partner’s point of view.
A periodic tune up with a third party expert facilitating the discussion can ensure long-term success for any partnership.
Suggestions:
Ask yourself 2 questions: Is there something I am avoiding speaking to my partner about because it feels too painful, annoying, or confrontational? What do I suspect my partner is avoiding bringing up for one of those same reasons?
Book a check-up session.
Here are some additional tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95.
www.coachingforyournextlevel.com ....click on business partners in the left menu.
Invest in yourselves by purchasing the Blueprint package including the “What If” Scenarios, the 7C's Danger Signs to Avoid and other bonuses. See the description at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very worthwhile return on this small investment.
If you are a coach to entrepreneurs who may be in a partnership or considering one, you can use these tools in your process of coaching them. More tools to come....
You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make it a joyful success.
Feel free to email your comments and questions.
info@businesspartnershipsolutions.com
Having a third party expert review the way you function as a partnership will bring to light the blind spots. And, believe me, they are there. We can't see ourselves objectively. It is the same reason the greatest athletes need a coach to point out weak spots. A golfer, for example, cannot see his/her own swing.
We often get in the habit of maintaining a facade that "everything's ok". It is often easier to ignore conversations about potentially uncomfortable Issues. However, this can very detrimental to the health of the partnership in the long run.
This type of check up session will enable the small annoyances or "slight" resentments that are there to be brought out in a safe environment so they can be dealt with in a friendly, healthy manner and nipped in the bud. Resentments tend to fester if they are not addressed. Maybe the festering will be slow enough to go unnoticed. However, many seemingly successful, long-lasting partnerships have ended painfully and expensively in court. Resentments fester beyond repair if ignored. A check up session at regular intervals, once or twice a year, can prevent that from happening.
Periodically coaching of a functioning partnership also helps to identify ways in which partners deal well with the business issues and with each. When you know what you are doing right, you can consciously put those methods in your toolbox, build on them and pull them out when things get a little rough. In the process, additional new and even better ways can be created and strategized. There is always room to improve. If you can't see what you are doing wrong, you may also miss what you are doing right.
The most important tool to successful partnership relationships is to communicate. That is a word that merits definition. Communication, for the most part, is effective listening. The goal is not to make your case, or to get your way, but to really deeply hear and respect your partner’s point of view.
A periodic tune up with a third party expert facilitating the discussion can ensure long-term success for any partnership.
Suggestions:
Ask yourself 2 questions: Is there something I am avoiding speaking to my partner about because it feels too painful, annoying, or confrontational? What do I suspect my partner is avoiding bringing up for one of those same reasons?
Book a check-up session.
Here are some additional tools I suggest for you:
If you are considering a partnership or would like to go back and do some of the thoughtful work you skipped before becoming partners get the 15 very important questions to ask yourself and your partner for only $14.95.
www.coachingforyournextlevel.com ....click on business partners in the left menu.
Invest in yourselves by purchasing the Blueprint package including the “What If” Scenarios, the 7C's Danger Signs to Avoid and other bonuses. See the description at www.businesspartnershipsolutions.com. At an introductory price of $497 you will get a very worthwhile return on this small investment.
If you are a coach to entrepreneurs who may be in a partnership or considering one, you can use these tools in your process of coaching them. More tools to come....
You have made a serious investment, both financially and emotionally to create this business. Do everything you can to make it a joyful success.
Feel free to email your comments and questions.
info@businesspartnershipsolutions.com
Sunday, January 10, 2010
Transparency in Partnerships
It is essential in close relationships that transparency be the rule. If you and your business partner cannot be open and share everything about who you each are, how you feel about things, and be able to talk about them, then I would say your partnership can easily get into trouble. Partnership is like a marriage. Married couples that don't talk about everything, share feelings and resolve issues are easily seen as problematic. The same holds true with your business partner.
Hiding, avoiding, secretly resenting, harboring dissatisfaction are all words and phrases that have no place in successful partnerships.
Try openness with the commitment to resolve any problems to insure the ultimate goal of a long life of happiness and business success.
Listen to how other partners do it..
Free teleseminar http://tinyurl.com/y8jtsqb
Free assessment and interview recordings with successful partnerships.
Listen and adopt their ways for yourself. www.businesspartnershipsuccess.com
Hiding, avoiding, secretly resenting, harboring dissatisfaction are all words and phrases that have no place in successful partnerships.
Try openness with the commitment to resolve any problems to insure the ultimate goal of a long life of happiness and business success.
Listen to how other partners do it..
Free teleseminar http://tinyurl.com/y8jtsqb
Free assessment and interview recordings with successful partnerships.
Listen and adopt their ways for yourself. www.businesspartnershipsuccess.com
Wednesday, January 6, 2010
Your questions about business partnerships answered
It is for you to ask....a Free Teleseminar where you can ask anything you'd like to about business partnerships. Jan. 26, if you can't be there, sign up anyway for free recording. Details at http://tinyurl.com/y8jtsqb
Sunday, January 3, 2010
Do You Value Your Gifts?
by Dorene Lehavi, PhD
I have a divorced friend, Miranda (not her real name) who is 66. She is off to an Eastern European country to teach English as a second language. I met her in the context of our mutual ballroom dance lessons about 18 years ago. She has always amazed me with the way she lives life.
She has climbed the Himalayas and visited almost every corner of the world. She is an avid hiker and camper. She usually camps alone but lately took her 7-year-old grandson to Yosemite. She has been a very creative grandmother involving all of her grandsons in amazing activities.
She has contracted some serious illnesses which she doesn't allow to keep her from adventures.
She has owned property and lost it. She has been financially comfortable and also in dire straits.
She is extremely generous and has acquired the wisdom of a woman who has been through a lot to say the least. She is very curious and will research even the smallest of topics. Bottom line, she is resilient and always picks herself up and moves on.
I recently suggested that she put this adventurous life into a book. She sloughed off the idea as uninteresting and perfectly average. Wow! Not to me! But I understand where she is coming from. We all tend not to recognize our unique gifts because they come easy to us. So we underplay their value and significance. It took me awhile to know that most others don't do what I do well. I always was aware that I don't do what they do. Feeling bad about it is a waste of time and a formula to lower your self esteem.
We all have strengths and unique gifts. Focusing on those and building on them is how we discover that we are much more than we think we are.
My workbook "Stop Doing What You Hate Start Doing What You Love" and the workshops I facilitate are geared to helping participants identify what is very unique and special about themselves. Additionally, participants who choose to can culminate with a collage or vision board depicting their uniqueness.
If you are not able to participate in one of my workshops you can still enjoy the book which has an accompanying mp3 download of me guiding you through the process. BUY HERE
One final thought on this subject. It is foolhardy to compare yourself to anyone else. We are all on our own particular journey in this life, which makes comparing a waste of time that will keep you stuck for as long as you decide to stay there.
Enjoy your journey of self discovery!
Dorene
Copyright © 2009 Dorene Lehavi Ph.D. All rights reserved.
I have a divorced friend, Miranda (not her real name) who is 66. She is off to an Eastern European country to teach English as a second language. I met her in the context of our mutual ballroom dance lessons about 18 years ago. She has always amazed me with the way she lives life.
She has climbed the Himalayas and visited almost every corner of the world. She is an avid hiker and camper. She usually camps alone but lately took her 7-year-old grandson to Yosemite. She has been a very creative grandmother involving all of her grandsons in amazing activities.
She has contracted some serious illnesses which she doesn't allow to keep her from adventures.
She has owned property and lost it. She has been financially comfortable and also in dire straits.
She is extremely generous and has acquired the wisdom of a woman who has been through a lot to say the least. She is very curious and will research even the smallest of topics. Bottom line, she is resilient and always picks herself up and moves on.
I recently suggested that she put this adventurous life into a book. She sloughed off the idea as uninteresting and perfectly average. Wow! Not to me! But I understand where she is coming from. We all tend not to recognize our unique gifts because they come easy to us. So we underplay their value and significance. It took me awhile to know that most others don't do what I do well. I always was aware that I don't do what they do. Feeling bad about it is a waste of time and a formula to lower your self esteem.
We all have strengths and unique gifts. Focusing on those and building on them is how we discover that we are much more than we think we are.
My workbook "Stop Doing What You Hate Start Doing What You Love" and the workshops I facilitate are geared to helping participants identify what is very unique and special about themselves. Additionally, participants who choose to can culminate with a collage or vision board depicting their uniqueness.
If you are not able to participate in one of my workshops you can still enjoy the book which has an accompanying mp3 download of me guiding you through the process. BUY HERE
One final thought on this subject. It is foolhardy to compare yourself to anyone else. We are all on our own particular journey in this life, which makes comparing a waste of time that will keep you stuck for as long as you decide to stay there.
Enjoy your journey of self discovery!
Dorene
Copyright © 2009 Dorene Lehavi Ph.D. All rights reserved.
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