The Idea of Business in Partnership
By Maneesh on Aug 18, 2008 in Entrepreneurship
Partnerships are a great way to start a business. A bunch of friends, one great idea and we have four owner sitting and dreaming of taking over the world. Nothing wrong at all.
However, partnerships and money, they don’t really catch like a house on fire do they, you know it very well, of course. So you take care of everything first up. You pen down the rules, take oath under the revered presence of your accountant and lawyers and come up with the perfect share for all. You talk to the best and arrive at conclusions on how the perfect partnership will work.
Yet more often than not these partnerships break down. And in almost all cases reasons goes beyond just the hunger for power or larger share in profits for the breakup.
The singular need for a partnership to work is a common vision. When you know where you want to be individually and as a firm, then any partnership will work. In fact, you need to have a vision first and then hunt for a partner who shares the dream. Someone who brings something that you desperately need to get to your vision while terrible lacking in what you can bring to the table.
And the vision is not just an idea, it is stronger than that. Vision has to be crystal clear and you should see yourself with the spoils of your hunt. That’s what even your partners need from you.
Image: Dunechaser
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