Creating a successful partnership requires knowing yourself, communicating effectively and getting everything in writing. Although the best business partner for you may not agree with you, through open and honest communication, you can form a powerful team. In order to scale, you must get a great team. By yourself, you might be a better closer than everyone else, but if you have a team of 10 people that are 85% as good as you, that team will out produce you every day.
#1: Know How You Make Decisions
First, know yourself and understand how you make decisions. Are your head, heart or gut? If you are Head, you use logic, reason and prefer detailed future plans. If you are Heart, you react to emotions, memories, images and operate based on dreams and visions. Reacting with your gut involves instinct, intuition with a practical and direct delivery. Once you
#2: Know Your Philosophy and The Assets You Possess That You Can Leverage
Are you a Visionary (Ideas) or an Integrator (Execute Actions)? For example, Steve Jobs was a Visionary and Steve Wozniak was an Integrator. To determine your strengths, you must evaluate your history and how you have approached problems. Do you have big ideas that you start, then drop the ball? If so, you need an Integrator to carry out your ideas. On the contrary, if you feel lost in the forest until you find one specific thing to do, then you need a Visionary to create the forest.
Do you have time, knowledge or money? You can only leverage these if you know which one you have.
#3: Find Someone Who Complements Your Weaknesses
Find the people who have the things that you don’t. If you have time, you need the money and the knowledge. If you have the money, you need the time and knowledge. DON’T fall into the trap of finding someone who has your exact same opinion as you. Find someone who questions your ideas.
#4: Maintain Constant and Open Communication
Have a “Same Page” meeting every week with your partner. Use “I Feel” statements, which cannot be disputed. One of the most common communication issues is a disconnect between what is being said and what is being heard. Repeat what is heard to confirm that the proper intent was conveyed.
A great manager is good at recognizing talent not being able to do everything better than everyone else.
#5: Get Everything in Writing
Regardless of the value of a “handshake” partnership, according to the law, nothing in matters unless it is in writing.
For business partnerships it is imperative to determine what split everyone gets, what work is expected of each party and an exit strategy should it not work out.
Scaling is not about cloning yourself, rather, finding the best partner and developing an amazing team.
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