SMALL BUSINESS MATTERS: Your “Better Half”
By Vernalee
OhioMBE – June 15, 2014
Spouses frequently refer to their mate as their “better half.” Although one may not refer to their business partner using that terminology; nonetheless, as partners, you are joined together for mutual purposes… namely to make your business successful and profitable. To obtain maximum utilization of talents, profitability, exposure, and success, the partners must have compatible vision, mission, and commitment.
However, with two or more individuals, disagreements are inevitable. It’s how problems are solved that makes the difference. So to establish / maintain a smooth partnership, here are some conciliatory ground rules.
- Apply the golden rule. Do unto your partners as you wish him / her to do unto you.
- Learn to respectfully agree to disagree; fight fair.
- Don’t let past anxieties become present pain.
- Solve problems based upon the issue and not upon your feelings toward one another.
- Never “go along to get along.” If your partner has a bad idea, voice your concern.
- Respect each other if you wish for the partnership to thrive.
- Resolve conflict. Married folks are counseled to never go to bed angry. Business partners should insist that the next work day is not reflective of yesterday’s problems.
- Rely on the strengths of each other.
- Determine financial arrangements beforehand. Disagreements about money & finances never solve themselves. Intervention is necessary!
- Don’t play quid pro quo games. Let decisions be driven by need and budget.
Sequentially, I goofed! This advice is in reverse order. Sometimes, we erroneously start in the middle rather than in the beginning. Sounds familiar? Therefore, the better questions are as follow: Is your partner a good fit for the business and for you? Do you truly complement each other? Do you have great chemistry? Are you greater together than individually? Could you survive and / or efficiently operate the business without the other? Although there is strength in numbers, do you really need a partner? The answers will eventually determine whether you remain a partnership or go separate ways to make your mark in the business world.
If you select an incompatible marital “better half,” trouble is brewing from the start. If it is the wrong partner, a divorce may be imminent. It is no different with business partners. In these cases of incompatibility, it is called business dissolution!
Vernalee is a respected entrepreneur in Cleveland and Columbus, Ohio. As President of Lee Enterprises Ltd., she helps her clients achieve success in the areas of human resources, supplier diversity, marketing, business development, and communications. Lee is also a freelance writer for a number of publications. She is the published author of “I’m Doing Me” and “Stuff We Talk About.” Follow Vernalee at www.stuffwetalkabout.com and www.vernalee.com. She can be reached at verna@vernalee.com.
