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Podcast #3: What is the process of The Partnership Resource? What is the first step?

Michael: So can you talk to us then a little bit about, like, what do you do? You know, I’m a solo advisor, you know, I’ve been going to my local FPA chapter meetings for a while, I’ve met another advisor in the area, I get on well with her, she gets along well with me, we’re thinking about working together and forming a partnership. We have no idea what we’re actually getting into because neither of us has been in a partnership before. So, you know, we call Tanya and say, “We’re thinking about doing a partnership, we don’t want to screw this up. So help us.” Like, what do you do? What would the process be from there? How would you work with us going forward?

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TAGS: values, compatibility

Podcast snippet #2: Who does The Partnership Resource help? How many partnerships need help?

In June 2018, I was interviewed by Michael Kitces for his Financial Advisor Success podcast. The full interview, at 90 minutes, is here: www.kitces.com/77. I am making some "bite size" passages of the interview available here.

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TAGS: Partnerships, Facilitation, assessments, compatibility

Podcast snippet #1: What is the Partnership Resource?

On June 19, I was a guest on the Michael Kitces podcast, "Financial Advisor Success"  The whole interview was 90 minutes long, so I am going to publish some bite-size snippets from the transcript.  The full podcast and transcript are here: www.kitces.com/77

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TAGS: Partnerships, Facilitation, Coaching, Mediation, compatibility

Predicting Business Partnership Success

“The meeting of two personalities is like the meeting of two chemical substances. If there is any reaction, both are transformed.” Carl Jung

 There is a lot to do when you form a new business, which is one reason that many people choose to team up with a business partner. While being in a partnership can solve a lot of problems, it too often creates other, more vexing ones. The inability of partners to work well together over the long-term is the chief cause of failure in business partnerships.   And,

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TAGS: Partnerships, Co-founders

Partnership Equity Splits and “Fairness”

“Measure what is measurable and make measurable what is not so.” – Galileo

For new partners, either starting a new venture or merging their businesses, few conversations are as difficult as discussing what the equity split will be. So, like any potentially messy conversation, it is often avoided. The default is to go with an even split or a split that ensures control to a specific founder.

When we see partners in serious trouble, with businesses that are in jeopardy because they can no longer work together, it is often because there is a sense of unfairness about contribution, compensation or control. Often this can be traced to

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TAGS: Facilitation, Merging, Co-founders

What's The Best Way to Bond With Your New Business Partner?  Hint: It's Not Golf

We’ve worked with many successful partners who attribute some of the strength in their partnership to time spent in social activities as they got to know each other: golfing, biking, weekend travel with spouses. Yet we continue to see partners seeking mediation who had terrific social relationships but have profound problems in their business partnership.

New research by Noam Wasserman at Harvard Business School, as well as internal research done at Google, shows that having strong social bonds is not a predictor of how well work teams perform. In research focused specifically on

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TAGS: Partnerships

It's Complicated: Men, Women and Business Partnerships

It is the long history of humankind that those who learned to collaborate and improvise most effectively have prevailed. —Charles Darwin

Effective collaboration is at the core of successful business partnerships, but it is a balancing act. Collaboration can result in better products and services but can also be time-consuming and negatively affect profitability. We recently completed a survey of over 130 business partners, looking for trends in how they collaborate to create satisfying, and profitable,

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TAGS: Partnerships, Co-founders

What You Need to Know About Your Co-Founder

“All happy families are alike; each unhappy family is unhappy in its own way.” - Leo Tolstoy, Anna Karenina

Whether or not he was correct about families, Tolstoy’s philosophy does not seem to hold true for business startups. In fact, the opposite is true: startups can succeed for a variety of reasons, but most fail for the same reason: poor relationships among co-founders. Studies suggest that the majority (62%) of failure in start-ups is attributable to irresolvable conflict among co-founders. This is unfortunate not only because some great business ideas never come to fruition, but also because it is preventable.

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TAGS: Facilitation, Coaching, Merging, Co-founders

Problems in Your Partnership? Focus on Values

“What counts in making a happy marriage is not so much how compatible you are but how you deal with incompatibility” Leo Tolstoy

In our practice, we have come to believe that there is very little incompatibility in behaviors that cannot be adapted for.  For some partners, getting along and approaching problems similarly comes more easily. Others may have behavioral traits that require them to work a little harder.   Forewarned is forearmed; with the correct understanding,  it is possible to make

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TAGS: Partnerships, Facilitation

Are You Hewlett and Packard? What You Can Learn About Your Partnership From Our New Compatibility Report

 

“The single biggest problem with communication is the illusion that it has taken place.” George Bernard Shaw

 Assessing the behaviors and motivators of our clients and creating an overlay of the styles of all the partners in the business has always been a part of our practice.  We now have a new report that provides even more integration of the comparison of two business partners. It addresses three main areas:

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TAGS: Partnerships, Facilitation, Co-founders

THE PARTNERSHIP RESOURCE

  • Form strong partnerships
  • Resolve partnership conflict
  • Reinforce your partnership dynamics

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