PARTNERSHIP…..A right move to make (part 2)
Great morning Champs
What a week it has been….did you hit some milestones this week?? Thank God its Friday as I hope you are looking forward to a most profitable weekend!
Still on our series “Partnership…a right move to make”..I laid some foundation yesterday in the first part of this all important series.. Thank you for your mails and messages on the Facebook link, indeed these write-ups are designed to call our attention to the things we perhaps already know but really tend not to give due attention to. so once again, thank you for all the feedback!!!
We started off in the first part understanding what the concept of partnership is and to highlight the importance of partnerships. we looked at various textbook definitions of the word partnership and saw that even though it was defined in different contexts, it always involved at least two entities or parties coming together for a significant common good which either parties would not be able to attain on their own. Going further, it was said that there are certain vital points that must be taken into consideration before a partnership is entered into. Note that the points below are not in any way exhaustive but rather represent a few of considerations that you have for you to have a good partnership. Okay….lets talk a bit about those points
1.)Do you share a common vision with your intended partner?
It can not be over said that there MUST be a common vision for both parties. do you see the same possibilities? do u envisage the same challenges? are you in heading the same direction as regards the outcome of your partnership? usually, this is what business entities and people usually think of first…..but you must remember, just because you share common friends doesn’t mean you have the same “enemies”…hmmmmmmmmmmmmm
2.)Can you handle the character or the person of your intended partner?
Character is all important! Character is defined as the combination of mental characteristics and behavior that distinguishes a person or group. As a friend of mine would always say “its not every nice person that you can get married to…just because someone is nice doesn’t mean they are nicely suited for you!” its simply not everyone I can do business with…now understand that doesn’t mean that they are bad business people or that they are terrible..it means that their person is not agreeable with me. Please don’t get it twisted, you have to ask yourself if you can handle the character of person or persons that you are about to go into partnership with.
3.)Are you extremely clear about the expected deliverable and reward outcomes of the partnership?
In all thy wisdom, please do get understanding!!! (that’s from the bible). Being very clear about expectations cant be over said. The expected deliverable, functions, structures, operational systems and expected outcomes must be clearly spelt out. each intended partner must show that he or she comprehends in totality what is expected. it can be very disastrous if this point isn’t taken into consideration at the very beginning. Disappointments and disagreements usually arise when expectations or perceived expectations are not met with…..and trust me, things can get really nasty when partnerships go sour. Be clear about expected deliverable from get go!
3.)Do you share similar business ethics?
I strongly believe that if more organizations and people paid attention to business ethics, the world would be a much better place o live in….and I aint kidding. Wikipedia defines business ethics thus
“Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations”
so while you are looking to go into partnership with someone because your services compliment each other and you can jointly increase your collective market share, you might want to also consider if you share the same thoughts or passion for the way you would arrive at that increased market share. yes, that’s right! for example, if your partner believes in a little bit of sharp practice or giving of bribes or strategic coercing or some tiny manipulation all so that you can indeed get that increased market for your services………how would you react to that???? Remember, its just not enough to “love” the same things…..do you “hate” the same things????
4.)DOCUMENTATIONS, DOCUMENTATIONS, DOCUMENTATIONS!!!!!
I will leave this point for the third and concluding part of this series where I shall also share some some true life stores on partnership with you. Stories that will tell the experiences of those who didn’t pay attention to these points before they went into business partnerships and of course, you will also read about those that paid attention.
Champs,I hope this inspires you to give more thought to the relationships that you are about to get into or you are already in. its said that when two agree as one for a common purpose, then nothing can stop them….on the other side, a house divided within itself can not stand…..Good partnerships significantly grow you. Bad partnerships set you back and can destroy you. Give it deliberate thought.
Have a great and profitable weekend as you keep walking the Pathway of Champions
Posted on October 30, 2015, in A CHAMPION'S INSPIRATION, INSPIRATION, LEADERSHIP, MANAGEMENT, PASSION and tagged #champion, #inspiration, #selfstart, #victory. Bookmark the permalink. Leave a comment.