Partnership Businesses

A well-rounded successful partnership is one where each person recognises their individual limitations and respects what others bring to the partnership.

Each person in partnerships has their own reasons for being in the partnership. Sometimes people seek partners for capital, expertise, or connections. These reasons are not always explicitly expressed, yet they remain as an underlying expectation. If those expectations are not met,  relationships can become strained.

Partnership expectations cannot be assumed

Partners need to play to strengths and support limitations

ADDRESS EACH PARTNERS NEEDS AND EXPECTATIONS

Because each person’s expertise, motivation and personality are different, it’s important to have this discussion before anything is committed contractually.

Additionally, individual needs and expectations may change over time, therefore a clear dissolution or modification plan needs to be in writing also.

  • We work with partners to uncover all motivations, assumptions and expectations and makes sure everyone is on the same page.
  • We challenge each person’s perceptions of what they think their own expectations are, and check how they are interpreted by each partner

IDENTIFY AND UTILISE PARTNERS KEY STRENGTHS

The most obvious strengths partners possess will probably be recognized; however, underlying strengths may be overlooked, which when brought out can often make a big difference in long-term motivation, commitment and partnership success.

  • When people work to their strengths which usually aligns with their passions and what they enjoy doing, it is far easier to do the things you don’t like doing, but need to be done
  • This approach means peoples mindsets are in the positive zone rather than the negative zone, and resulting behaviours are highly efficient and motivational to others.

IDENTIFY PARTNERS LIMITATIONS, PROVIDE SUPPORT

In an effort to save money, little things often pile up in areas where partners have neither expertise nor interest.  Wherever these limitations are, it’s important to identify them as early as possible and have a plan to manage them so they don’t get out of hand.

  • These avoidance behaviours over time, these can literally sink your business and are the primary cause of business failures.
  • Regardless of how hopeless a situation where avoidance has been let run unbridled, there is always a way to turn things around which is where we come in.