I've found there are lots of people in a long standing business partnership who are not satisfied with the status of the relationship. They may feel stuck, frustrated, angry...or all of these. They know they've been silent far too long, but just don't know what to do.
What can cause such a change in a relationship that started out with high hopes and good feelings?
Here are some of the situations I see most often. Do any of these apply to your partnership?
One partner feels like he's carrying the bulk of the workload.
This may have happened because there wasn't an agreement about who would do what. Job roles, responsibilities and accountability have not been discussed.
Expectations are not being met.
Expectations may be quite different for each partner. When expectations aren't met, it's a set up for negative feelings. It's important that each partner knows what to expect from the others.
Partner has lost interest in the business or changed thinking.
Over time new attractions and options will continue to present themselves to all partners. When a partner becomes disenchanted with how the partnership is going, she is more likely to lose interest over time.
Can't talk to each other.
Communication is so critical to maintaining a viable partnership. When partners get so busy doing their own thing that they can't find time to sit down with the other(s), they will likely start to feel less engaged. An unresolved issue can also lead to partners being unable to talk about certain things.
It's a wrong partnership.
Sometimes the partnership has been a bad match from the beginning, but it was maintained for a variety of reasons. When the primary reason for the partnership was based on personal needs more than on business needs, if those needs aren't fulfilled, the partnership will flounder. Maybe one partner thinks and acts fast and the other wants to research things in great detail. These people may never be able to function well together. Basic behaviors and traits will not likely change even if the person tries.
Are any of these your concern? How do you open the subject of improving the relationship for the good of the company? NOTE: Even if you think it may be a wrong partnership, it's worth making the effort to see if it's salvageable.
Be proactive.
If you want things to change, it's up to you to change them. Make the decision you're going to break the status quo, but you're going to do it strategically.
Be clear about what you want.
Start by thinking about what you want for yourself and the business. NOTE: Use the Partner Questionnaire to help you organize your thinking. You can ask your partner(s) to do the same and compare notes or you can determine what you think will work and present it to your partner for feedback.
Schedule time to talk business.
Once you have thought things through it's time to schedule a time to talk business. Give your partner plenty of lead time and full disclosure about what the meeting is about. Let him get prepared for the meeting, but don't let it be put off because he "doesn't have time".
Discuss actions you're each willing to take.
Be prepared with actions you are willing to take. You can request or suggest actions from your partner, but leave the topic open for discussion and agreement.
Write a PLAN for agreed upon changes.
Once you reach agreement, set Goals for yourselves and the business. To keep things moving in the right direction it's a good idea to schedule periodic meetings to iron out details. This is the perfect time to start the habit of regular planned communications.
Set a timeframe for evaluation.
Three months is a reasonable timeframe to see if the Plan is achieving the results you want. Schedule an actual time where you will sit down together to see what has been accomplished toward the Goals you set. If you see progress, you may want to give it another three months.
If your evaluation tells you there is no hope, it may be time to make that very difficult decision to end the relationship. If you can't come to agreement or you're clearly going in different directions, it's probably time to part ways. Why waste any more time on a losing proposition?
Yes, it's like breaking up a marriage. But sometimes it has to be. Rather than feeling defeated, congratulate yourself on gaining the freedom to move on to something better.
Take a good look at your partnership and decide if it's time to take action. Start by downloading the Partner Questionnaire, answering the questions yourself and then asking your partner(s) to do the same. Then plan to sit together and review your answers. It's a great way to get the dialogue started.
Read additional Business and Partnership Success articles at http://www.primestrategies.com/success_articles.
How Can I Fix My Business Partnership? - To learn more about this author, visit Marian Banker's Website.
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Leanne Hoagland Smith
Are your sales where you want them to be? Will you be one of the few who achieves sales success or one of the many who have failed to change? So what are you doing to change those results? Let’s be honest, with companies moving globally and at lightening speeds, the traditional business solutions are outdated and dead. My approach moves your business out of its comfort zone and secures your competitive advantage now. If you are seeking to increase sales, build customer loyalty, create a culture of great attitudes or just achieve some sleep filled nights, then we should talk because my clients have experienced exactly those types of results. Learn more about customer loyalty at http://www.processspecialist.com/customer-loyalty.htm Give me a call at 219.759.5601 for a free strategy session. P.S. If you are seeking a motivational speaker, sales trainer or small business expert that will leave your audience smiling and remembering, please feel free to contact me at 219.759.5601. - Visit Leanne Hoagland Smith's Website |
The Evan Elite Authors program is currently in beta phase. For details please contact us.
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Marian Banker
(Visit Marian's Website)
A coach with passion for her work and her
clients' success, Marian will inspire and
challenge you to find and stay on your
right path. She is a seasoned executive,
entrepreneur and professional and shares
that expertise with her clients. You can
count on her as a partner and guide to
accelerate the achievement of your goals.
Producer and host for Small Business
Summit 2006, 2007 and 2008, an all-day
conference that brings together small
business owners and technology providers.
Creator of the "Business Success System",
a step-by-step process with tools, text
and a virtual classroom atmosphere.
Since 1995, has coached Entrepreneurs,
Professionals and Executives in transition
to become business leaders. Emphasis is on
what it takes to lead a business to
success.
Holds a Masters in Business Administration
and has over 25 years experience as senior
executive, consultant, entrepreneur,
educator, mentor and coach.
Founded Prime Strategies in 1996 to
provide the small business community with
coaching, consulting and training in
business leadership, translated into plain
English for the typical small business
owner.
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