Business partnerships and collaborations – Part 1

Bliss

It can be lonely being in business on our own. We might want to work with someone else. Maybe we have met someone and dreamed up a great idea for a business, or perhaps a great product. We have that excitement that comes with the beginning of a relationship. We want to go into partnership. It all sounds like a budding romance, doesn’t it?

I am talking about a business partnership in the usual context, and also about working together through a company. Whatever the strict legal status, the working environment is the same.

A business partnership, especially a small business partnership, is just like any relationship. If we commit to it, it is just like a marriage. So in many ways, the rules of the relationship are the same. We have to live with our partner and be happy that when the initial thrill of meeting someone exciting is over, we still are happy together. After all, there is money involved on both sides otherwise why would we be in business at all?

  • Is the great idea behind our relationship likely to be sustainable?
  • Have we known our partner long enough to know we can work (and be) with them long term?
  • Can we live with their work habits?
  • Are we sure they are reliable and will be where they say they will be and do what they said they will do?
  • Do we know enough about their past?
  • How good are they with money?

You might think that all sounds rather mercenary especially when I compare a business relationship to a marriage. Although all marriages whether business or personal are exciting, they are also about willing compromise and working round each other in a happy way. If we can do that, it’s bliss, isn’t it?

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