alex
April 11, 2009, 02:59 AM
Choose Your Partners Carefully! said by John De Titta
I once had a business that was growing tremendously, I was young and naive and was approached by two "outstanding citizens" in the community. They wanted to help me grow the business and offered their services on a delayed billing plan. Being naive, I jumped at the chance not knowing they had one goal in my mind - to get me out, and and take over the company. The business failed because of legal battles.
Whenever you think of bringing someone in take a breath... step back... and review the situation. What is the value of them coming in? Would it be better if you did it on your own or hired someone part time? Check their references. Are they easy to work with? Do they know your business? If you bring a partner into a business it is no different then a marriage!
Seriously, it is that deep a relationship. In a good marriage there is give and take, compromise, teamwork, loyalty, dedication and empathy.
A good management team is required for your success! Chances are if you are an entrepreneur you will need business partners that will balance you out. You probably are the sales and ideas person and you need someone to handle the growth, day to day operations, and financial matters. Sit down with the individual you want to bring in, get to know them well.
Tell them your goals, your strengths and what you need their help with. Be honest and open and see if they are as well. Then when you do bring them in, follow what you agreed with them: LET THEM DO THEIR JOB!
What you say guys , we should learn from this lesson by john detitta
I once had a business that was growing tremendously, I was young and naive and was approached by two "outstanding citizens" in the community. They wanted to help me grow the business and offered their services on a delayed billing plan. Being naive, I jumped at the chance not knowing they had one goal in my mind - to get me out, and and take over the company. The business failed because of legal battles.
Whenever you think of bringing someone in take a breath... step back... and review the situation. What is the value of them coming in? Would it be better if you did it on your own or hired someone part time? Check their references. Are they easy to work with? Do they know your business? If you bring a partner into a business it is no different then a marriage!
Seriously, it is that deep a relationship. In a good marriage there is give and take, compromise, teamwork, loyalty, dedication and empathy.
A good management team is required for your success! Chances are if you are an entrepreneur you will need business partners that will balance you out. You probably are the sales and ideas person and you need someone to handle the growth, day to day operations, and financial matters. Sit down with the individual you want to bring in, get to know them well.
Tell them your goals, your strengths and what you need their help with. Be honest and open and see if they are as well. Then when you do bring them in, follow what you agreed with them: LET THEM DO THEIR JOB!
What you say guys , we should learn from this lesson by john detitta
