Fifty Fifty Partnership
- by Lauren Gall & Melanie Ammerman with VaVa Virtual Assistants
Partnership. What does this word mean to you in regards to your business? When searching the word “partnership” with my oh-so-trusty thesaurus, a few synonyms that come up are “interest,” “joint venture,” “alliance,” “cooperation” and “trust.” These are all very powerful words when considering a business relationship with a prospective partner to make sure each partner has an equal commitment and contribution.
Having a shared interest means you both have the same drive to create and build a successful business. When both partners have equal passion for the business, there is the same motivation to put forth equal efforts toward the progression of the business.
Knowing that a partnership is a joint venture creates the understanding that you are both on the business journey together no matter what; ready to support each other through both the good and the more challenging times.
Understanding that the partnership is an alliance puts you both on the same team. If you both know that you’re striving for the same objectives, then you’ll always work well together to meet them as a unit.
Cooperation is also important because it emphasizes the importance of working with each other. Not alongside each other. Not for each other. Definitely not against each other. With each other. It’s always imperative to remember that good communication will allow for a general understanding of each other that will help you both work well together.
Having trust in your partner means you have confidence in them, believing that he or she is in the business to meet the common goals and achievements. Knowing that you both have the same expectations for the business will put you both on the same page from the very beginning. This way, you can rely on partner to have the integrity to make good and responsible decisions for the business.
In summary, you want a partnership where you and your partner are on even playing fields, but make unique contributions. It is important to have the same motivation and passion for working to start and maintain the business; the same support and communication for each other to work together well as a team; and the same goals and expectations for working toward the success of the business. If you consider the terms above and continue to feel confident about your prospective partner, you just might be on your way to having a partnership where you’re both in it equally. Fifty fifty.
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