Partnerships

marriage

“If you want to go fast go alone. If you want to go far, go together.” You have probably heard or seen that quote. While it is frequently used to emphasise the power of teamwork, it holds true for many aspects of life.

If you’re starting a business, i can find more pros than cons in having a partner(s). Being able to leverage off each other can be extremely powerful in building your organisation. Throughout the years, i have had the pleasure of learning from a few partnerships both in my personal and professional aspects of my life. And here’s some of the key perks of a business partnership.

1. Motivation
“People often say that motivation doesn’t last. Well neither does bathing, thats why we recommend it daily.” – Zig Ziglar.
Who better to continuously motivate you than someone who is working towards the same goal as you are. Its all part of life that we face challenges and speed bumps, and it will be a challenge for anyone to continuously keep the spirits high and the fire burning all the time. Having someone who clearly understands the challenges by your side to encourage and motivate you to keep moving forward is definitely a plus.

Who better to continuously motivate you than someone who is working towards the same goal as you are

2. Accountability
Having the discipline and ability to keep track of everything and ensure you consistently act on the things you say is a rare ability. Goals, targets, plans and strategies are only effective if there are desired outcomes pegged to a date. Without a deadline, everything is merely dreams and words. And as good leaders of an organisation we are continuously listening and talking every minute to all levels of the organisation and external parties. Keeping track of what is said and needs to be acted upon while leading and building an organisation can be a mammoth task. As business partners you will be able to help each other record and remember commitments and the things we say we will do. Serving as a accountability partners to keep everyone on track to achieving the vision.

3. Ideas
While we do reach outside for ideas, it is vastly different to have someone on the same page and working towards the same common goal to bounce immediate ideas off. As we can’t be bombarding our friends or support group all the time, it’s always good to have someone to discuss, debate and share ideas with. Different perspectives with a common vision.

4. Resources
Resources refer to many things in a business from financial to contacts and knowledge. Two (or more) is definitely better than one in this case. Not only is starting a business going to require money, it is going to require a vast network of relevant contacts and friends to get you going and to keep growing the brand. The most valuable resource is time, and with people of vested interest and equal commitment working day-in-day-out towards the same vision, you have just doubled, tripled, and maybe quadrupled your organisation’s growth rate.

people of vested interest and equal commitment working day-in-day-out towards the same vision

While there are alot of pros in a business partnership, you have to remember that no two people are alike and there will differences in opinions, conflicts will arise. There will be times where you will be at each other’s necks. The key is to always hold true to the values and remember the vision of the organisation, and be grateful on how far you have come and how much closer you are to achieving that vision.
If you missed it, check here for more pointers on minimising partnership conflicts and if you are about to embark on a new business, best to read this post too.

Any other pros of a business partnership from your experience?  Do share them with us.

 

 

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Author: jwanheah

Entrepreneur | Brand Experience Creator | Corporate Culture Evangelist | Eventist | Petrol Head | Student Of Life

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