|
Is_your_Business_Partnership_about_to_Crash_and_Burn
| Is your Business Partnership about to Crash and Burn?
The Seven C's: Danger Signs not to be Ignored When Harry teamed
up with Joe, everyone thought it was a business match made in
heaven. Both loved the clothing business. Harry was a natural
salesman with good design sense and Joe was a shrewd buyer and
financial whiz. Together they opened a clothing store that
showed every sign of becoming a franchise. So why after just a
year, when the flagship store was a big hit were they struggling
with a costly and acrimonious divorce? Why were they talking
about bankruptcy instead of the fall line -- when they talked at
all? One of the main reasons was a communications breakdown,
which is all too common with partnerships. Few, however ever pay
heed until it grows into a monster. The very things that made
Harry and Joe such a perfect complement to each other were now
tearing the business apart. It can happen in any partnership if
great care is not taken. And here is where a business
partnership coach comes in. There are a number of danger signs
that a business partnership may be about to crash and burn.
Harry and Joe missed all of them. Visions that seemed similar
differed when money was on the line. For instance Joe wanted a
strong foundation and measured growth, while wheeling-dealing
Harry wanted to strike hard while the iron was hot. As is
typical in many partnerships, Joe needed a flamboyant frontman
just as much as Harry needed someone steady in the back room,
but their contrasting work styles bred irritation then conflict.
The very nature of a partnership means that things can quickly
get personal even in the most professional relationship. Have
you missed some or all of the warning signs that have spelled
the end of business matches? THE “SEVEN Cs”: PARTNERSHIP DANGER
SIGNS 1. Communications Breakdown 2. Competitive, not
complementary interaction 3. Conflict becoming the norm 4.
Cumulative money problems 5. Control issues 6. Changing vision
7. Crisis management impaired by personal issues Coaching is the
answer here, but if your partnership has many or all of the
Seven Cs, it may be too late to save. The business partnership
relationship is similar to the one between spouses: practical,
emotional, financial, psychological, built on trust, and the
list goes on. The problems tend to be the same as well: not
appreciated, not gratified, equality issues, expectations not
met, unfair division of labor, something happened to create
distrust, etc. Traditional family dynamics play a role in any
business partnership but their potentially negative effects
simply must be contained if goals are to be achieved and the
business is to succeed. No matter how well suited partners may
be in goals, ideas, and dreams, there will always be differences
which can turn into destructive forces. These differences may
revolve not only around styles, but views of long and short term
goals, equity issues in various arenas such as division of
labor, financial reward, variations in risk tolerance,
approaches to managing and marketing, inclusion of family
members, relationships with other staff members, personality or
philosophical approaches. Needless to say, this not only makes
for frazzled partners, but also plays havoc with profits. If you
are in a partnership and want to avoid becoming a statistic in
the future, consider partnership coaching.
About the author:
Dorene Lehavi, Ph.D. is principal of Next Level Business and
Professional Coaching. She coaches Professionals and Business
Partners and teaches teleclasses on techniques to break through
barriers to the next level. Dr. Lehavi offers a complimentary
coaching session so you can experience how coaching can work for
you. Visit http://www.CoachingforYourNextLevel.com
|
|
| |
| |
