Add You - Business Partnerships - The Good, The Bad & The Ugly?

Often I find that my clients are looking to go into a business partnership when starting their new business. Considering my market – new entrepreneurs it makes sense that this is happening. After all new entrepreneurs having never been involved in a business partnership would be likely to try it out. On the surface it seems a fairly common occurrence and a generally accepted business practice. Underneath however you're mixing a volatile concoction. One life lesson I learned long ago is that until you know how someone is about money, you really don’t know how that person is. Money has the ability to reflect the best and worst in people. We all know it but somehow when it comes to partnerships of all kinds we all too often play people pleasers numbed by the novocaine of looking bad.

There are 3 types of potential partners one takes on in business. They are as follows.

• Friend
• Family Member
• Business Associate that has become a friend of sorts.

The most common reason one brings a business partner aboard is the worst reason to do so. The most common reason is to "share the fear". As a business coach I have found this to be the case nearly every time someone wanted to bring on a partner. Whether they knew it or not, they wanted what I call "a liability sponge". The logical follow is that once the fear has worn thin, the partners begin to compare who is doing more or less than the other, who is taking more time off, who comes in late and the list goes on. The partnership begins to look like 70% of the marriages – they begin to look really dysfunctional and often end in divorce. Unfortunately in most cases (or fortunately just the same) there was no vow taken before God where the partners stated "til death do us part". There is only money holding them together.

There are 3 types of potential partners one takes on in business. They are as follows.

• Friend
• Family Member
• Business Associate that has become a friend of sorts.

The most common reason one brings a business partner aboard is the worst reason to do so. The most common reason is to "share the fear". As a business coach I have found this to be the case nearly every time someone wanted to bring on a partner. Whether they knew it or not, they wanted what I call "a liability sponge". The logical follow is that once the fear has worn thin, the partners begin to compare who is doing more or less than the other, who is taking more time off, who comes in late and the list goes on. The partnership begins to look like 70% of the marriages – they begin to look really dysfunctional and often end in divorce. Unfortunately in most cases (or fortunately just the same) there was no vow taken before God where the partners stated "til death do us part". There is only money holding them together.

Cold Calling Alternatives: Social Proof in Your Marketing
If you’ve been cold calling long you have probably noticed that it is not an easy thing to do. You call strangers up and try to convince them to meet with you or even to buy a product or service.One of the major reasons why cold calling is difficult is because you have no social proof when making a cold rships of all kinds we all too often play people pleasers numbed by the novocaine of looking bad.

There are 3 types of potential partners one takes on in business. They are as follows.

• Friend
• Family Member
• Business Associate that has become a friend of sorts.

The most common reason one brings a business partner aboard is the worst reason to do so. The most common reason is to "share the fear". As a business coach I have found this to be the case nearly every time someone wanted to bring on a partner. Whether they knew it or not, they wanted what I call "a liability sponge". The logical follow is that once the fear has worn thin, the partners begin to compare who is doing more or less than the other, who is taking more time off, who comes in late and the list goes on. The partnership begins to look like 70% of the marriages – they begin to look really dysfunctional and often end in divorce. Unfortunately in most cases (or fortunately just the same) there was no vow taken before God where the partners stated "til death do us part". There is only money holding them together.

Benchmarking Mistakes: The Poisonous 'Apples-to-Apples'
Top executives and managers in other industries know it is not only acceptable, but necessary to benchmark with other industries to obtain process improvements. For example, a major hotel chain desires to improve guest services. This chain not only has other hotel chains to examine for comparisons, but also canason to do so. The most common reason is to "share the fear". As a business coach I have found this to be the case nearly every time someone wanted to bring on a partner. Whether they knew it or not, they wanted what I call "a liability sponge". The logical follow is that once the fear has worn thin, the partners begin to compare who is doing more or less than the other, who is taking more time off, who comes in late and the list goes on. The partnership begins to look like 70% of the marriages – they begin to look really dysfunctional and often end in divorce. Unfortunately in most cases (or fortunately just the same) there was no vow taken before God where the partners stated "til death do us part". There is only money holding them together.

New or Used Construction Equipment - The Return on Investment Decision
It has always been a debate whether to buy new or used construction equipment. Smaller fleets prefer to buy used construction equipment as they attract less capital investments. Another reason for people to opt for used construction equipment is that they are sometimes as good as new and come at a very heavy di taking more time off, who comes in late and the list goes on. The partnership begins to look like 70% of the marriages – they begin to look really dysfunctional and often end in divorce. Unfortunately in most cases (or fortunately just the same) there was no vow taken before God where the partners stated "til death do us part". There is only money holding them together.

If you do bring a partner on, be comfortable knowing that you could lose them as a friend or family member forever -- long before death does you part. For me, all the money in the world can’t replace certain relationships in my life. Despite many temptations to mix business with pleasure I know better. I know better because I've done it and I've even lost a couple of friends in the process. Here is the good news. If you are going to bring a partner aboard in your new or existing business my article to follow, Business Partnerships – Doing it Right, will help you make it as painless as possible.

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