Partnership……..A right move to make

Great morning Champs,

ANIEKAN USOROH PARTNERSHIP

Today I am starting a 3 part series on a subject that we all need to talk about…PARTNERSHIP

Lets take a look at some definition of the term and concept known as Partnership

part·ner·ship

(pärt′nər-shĭp′)

n.

1. The state of being a partner.
2.

a. A business entity in which two or more co-owners contribute resources, share in profits and losses, and are individually liable for the entity’s actions.
b. The persons participating in such a business entity.
3. A relationship between individuals or groups that is characterized by mutual cooperation and responsibility, as for the achievement of a specified goal: Neighborhood groups formed a partnership to fight crime.

partnership

(ˈpɑːtnəʃɪp)

n

1. (Law)

a. a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits
b. the deed creating such a relationship
c. the persons associated in such a relationship
2. the state or condition of being a partner
3. (Law) the state or condition of being a partner

Partnership

an association of two or more persons for carrying on business; the persons collectivelyWilkes.

Noun 1. partnership - the members of a business venture created by contractpartnership – the members of a business venture created by contract

copartnership – a partnership in which employees get a share of the profits in addition to their wages
business, business concern, business organisation, business organization,concern – a commercial or industrial enterprise and the people who constitute it; “he bought his brother’s business”; “a small mom-and-pop business”; “a racially integrated business concern”
partner – a person who is a member of a partnership
2. partnership – a cooperative relationship between people or groups who agree to share responsibility for achieving some specific goal; “effective language learning is a partnership between school, teacher and student”; “the action teams worked in partnership with the government”

human relationship, relationship – a relation between people; (`relationship’ is often used where `relation’ would serve, as in `the relationship between inflation and unemployment’, but the preferred usage of `relationship’ is for human relations or states of relatedness); “the relationship between mothers and their children”
3. partnership – a contract between two or more persons who agree to pool talent and money and share profits or losses

contract – a binding agreement between two or more persons that is enforceable by law

images (11) Clearly with so many definitions of the word partnership, I would say that it is very important that we pay good enough attention to it.hmmmmm

Champs,It is said that the bigger your vision or dream, the more you need partnership…another saying goes thus “no man is an island”……here in Africa, there is yet another saying that goes thus” for you to wash your hands properly, you will need to use both hands in the washing process”. My point? ……Partnership is key to fulfilling great purpose. The bible tells us of the story of fishermen who, at the instruction of Jesus, cast their net into the waters and had such a massive catch that their nets started to brake and boat to sink….what they did next is what I want you to pay attention to! The bible tells us the fishermen, in a bid to avert disaster, beckoned on to a nearby boat who came in to help with the great catch…….Partnership!!!!!!!!  let me put it this way, I have no doubt a relay team doing a 4X 100 dash would complete the 400 meters way faster than if the great Usain Bolt ran the whole 400meters by himself…..Partnership!!!!!!

Now if that be true, and it is true….why don’t all partnerships work? Why don’t all partnerships grow???? Why are some partnerships clearly disastrous and regressive for the parties or entities involved?? Come with me.

I spoke at a business forum earlier this week. In the room were about 35 Entrepreneurs who by all standards have successfully grown their businesses but are looking for greater expansion by way of partnership with other businesses that should add value to theirs and hence grow their market share. I shared my thoughts on the subject matter with them and now I share them with you………

Right or good partnership is what grows any business, where there is a common goal or focus but diverse and complimentary resources. If we had the same resources, then there would not be much for us to partner on. However there is critical need to pay attention to certain points before going into partnership.

  1. Do you share a common vision with your intended partner?
  2. Can you handle the character or the person of your intended partner?
  3. Are you extremely clear about the deliverables and reward outcomes of the partnership?
  4. Do you share similar business ethics?
  5. DOCUMENTATIONS, DOCUMENTATIONS, DOCUMENTATIONS!!!!!

Join me tomorrow as we go deeper on these points in the second part of this series. YOU DONT WANT TO MISS THAT..

Keep walking the Pathway of Champions.

AU

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About aniekanusoroh

AU is a business development administrator and service delivery planner who is sold out to the "there is a better way" concept..the pursuit of excellence!...thus birthing the Pathway of Champions initiative which is a movement that calls for a personal dedication to commit to excellence in every phase and sphere of life....

Posted on October 29, 2015, in INSPIRATION. Bookmark the permalink. 2 Comments.

  1. Reblogged this on Aniekan "AU" USOROH and commented:

    Hey Champs,
    Here is a post from last year for those that are considering going into one partnership or the other….as it has helped others,I am certain that it would be Immensely helpful to you as well! Go ahead and keep walking #thepathwayofchampions
    AU

    Like

  1. Pingback: Partnership……..A right move to make | Aniekan "AU" USOROH

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