Join me on September 22nd as I share my thoughts, lessons, and humor on business partnerships with the Twitterverse! Yes, it’s a brave new world I’m entering, thanks to Melinda Emerson, The Small Biz Lady, and her #smallbizchat show. Every Wednesday, she hosts a weekly Twitter chat – focusing on everything that small business owners need to know about running and sustaining their business. Follow @smallbizchat for updates via Twitter and @SmallBizLady for her regular small biz updates.
Here’s just a few of the tasty morsels I’ll be sharing:
- How do you know? How do you know when someone is the right partner for you? Unlike romance, you don’t want to go on gut alone. Think carefully about why you need a partner in the first place, and the skills/benefits you want him or her to bring to the table. If you do your internal “homework” in advance, you’ll be able to see with clear eyes . . . and not get swayed by empty promises. Would you marry after a single coffee in Starbucks?
- Do I need a written agreement with friends?Absolutely — perhaps even more than with others. With friends, you have a special asset that needs protecting: your friendship. This is the time to be more formal, not less.
- What areas tend to get business partnerships in trouble? Management (the who-does-what) in the company. Money (need I say more?). Moving on (when you need to leave the business, for whatever reason). All three are hot buttons and ripe for finger-pointing, fights, blaming, and litigation when you haven’t been clear about what you expect.
Are there other issues around business partnerships that have you confused? Concerned? Let me know by leaving your comments. You can follow me on Twitter, too (@NinaKaufman), for more business partnership updates!
