I always look at any successful partnerships with envy. It could be a happy marriage, close friendship, business partners…
Yes, I know that envy is the deadly sin that do not pay, but it is hard to resist.
Looking at my failures in maintaining a successful business partnership, the thought on how to create a successful business partnership continues to intrigue me.
What could transpire a business partnership into a highly successful one?
Since a partnership is always about the two or more person…
Could the alignment of values be critical?
So what are the values that has to be aligned?
These are some of mine.
Having the same vision of what and what the business will become
so that we run towards a single light and not end up everywhere or nowhere
Ability to weather losses while remaining sane
otherwise it would two crazy person making crazy decisions
Always placing integrity above profit
transparency and honesty is paramount
Choosing sustainable growth
and rejecting uncontrolled growth and growth at any cost
Learning to say no to projects and profit which distract the core business
if required, spin off another company with a new team and capital
Go beyond what the customers expects
cos a happy customer returns and helps to spread the words
Treating the employees fair
Credit the progress to them and share the spoils
Recently, I have started on another business partnership.
He is an engineer and I will run business development for him.
We are tackling an age old industry using technology. There are multiple competitors on the market and we are trying to pivot and offer something unique.
The business is delivering its first project and we are receiving multiple enquires. We just need to quote and deliver.
Wish me luck!