How to Build a Successful Business Relationship
For starters , decide on your partners wisely. It is exceedingly difficult to develop partnerships with some folks. Whether it is their fault, your fault, a personality clash, or whatever have you occasionally a partnership is JUST NOT POSSIBLE. Consequently, pick your partners correctly! I have a custom koozies company and let me tell you, these words of wisdom all hold true between myself and my current partner
A good partner does not mean that you always see eye to eye . A good partner is someone who
- Has a similar upbringing and communication style
- Is a good listener
- You look up to
- Contributes a different skill set than your own
- Works just as hard as you
- Has had successful relationships (both personal and business in the past)
- Tells the truth
There are quite a few other characteristics; but any associate you decide on should definitely have these aforementioned characteristics .
Build Your Relationship Before You Build Your Business
All too often I’ve seen new partners try to construct a successful business without building a productive relationship THIS DOES NOT FUNCTION .
It is crucial that you and your partner become acquainted before any work is done! Coffee every so often does not count. You will need to spend at least 40 solid hours (this is only my recommendation sometimes longer may be crucial) before you start building a profitable enterprise e.g. a business plan.
Ask hard questions understand them this is a relationship that will include money and hopefully lots of it. Learn about your partner first before you take the big step of creating the business plan.
Dont Forget to Continue to Maintain Your Relationship after Your Company has been Built
A lot of young entrepreneurs consider that once a successful business has been built, their job is done WRONG ! It is important to continue to keep your professional and personal relationship with your partners.
Do not stop building a relationship, even if you feel you have a great one improve it ; e.g. share a drink every now and then , talk about things other than work , complement one another, take a company retreat, build a team trust me it will pay off in the long run!
Think Ahead Stop Problems Before They Start
This is simple BE A PROACTIVE BUSINESS, NOT A REACTIVE ONE.
Many times partners wait until they hate each other before calling attention to an issue. SPEAK UP! Make yourself heard all relationship failures can be traced to one thing LACK OF COMMUNICATION
If you practice these points, I guarantee you that you will find success in your business relationships.
Good Luck!