Shared Vision, Shared Success

Shared Vision, Shared Success.  This week I had a client ask me do I truly believe partnerships are worth it.  My answer was a resounding yes. However selecting the right person with the right values is the first win.  Then like marriage, falling in love requires a pulse, but staying in love requires work.  Managing a business partnership can be very difficult. It can be harder than managing the business itself. Partnerships are complex relationships. Partnerships require dedication and work. You must blend personalities and ideals, skillsets and values.  Without effort, partnerships sour.

As a Business Owner you want your partnership to help not hinder your business, therefore you need to strengthen the core relationship. This is the foundation of business success.

The Alignment Factor: Shared Vision, Shared Success

How do you strengthen this bond? Having worked with many partner-owned firms the main problem is always the same: a lack of alignment. If partners don’t agree, progress stops. Healthy relationships must share the same values and vision. A shared vision is your Strategic Objective. Disagreement blocks business growth. Working with strained partnerships I know we will not advance the business with misalignment, and as a result partnership tension plays out in the business. Relational tension impacts the broader team, productivity and morale.

A partnership issue is simple to understand. It is not simple to fix. As with any relationship, success requires commitment, and honest, clear communication. That said it takes hard work and effort. The positive impact on your business is huge. As a Business Advisor the first thing I advise is a same-page meeting.  Once a week, usually off-site and over a meal, and so an opportunity to discuss the undiscussables, to hear one another out and build relationship.

Define Your Roles Clearly

For some partnerships, trouble starts immediately. No-one knows where the one partner’s job ends. and the other begins. Defining roles is foundational to strategy, ensuring the partnership thrives by fostering accountability – who does what by when.

Define your specific job and duties. Sit down and list your individual strengths. Also list what you are each not good at. Then, a contentious point but you need to decide who is in charge. One person. Who will be the CEO? If one loves strategy and the other prefers management, the choice is clear. An organisation cannot have two point leaders, it causes confusion and indecision.

Building Clarity Together – Shared Vision, Shared Success

A choice can feel sensitive. Giving up the CEO role is hard. Taking the role can feel like too much responsibility. However, choosing one leader creates clarity. It clarifies the partnership for everyone without changing your ownership stake. Clarity simply focuses your contribution to growth.

Strategic Business Advisory services can guide you.  Select a Certified Business Advisor who can act as a sounding board, objectively. This is vital for steady growth.  A Business Coach will ensure the advice you get builds better communication and relational habits.  Ensuring both partners are heard, a trusted Business Advisor will help your partnership thrive and achieved shared vision. Shared Vision, Shared Success