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Podcast #5: Who has the most and least satisfied partnerships?

Michael: Well, and to me it’s very powerful just the idea of particularly once you’re beyond a two-person partnership and there’s three-plus people in the room, like, just clarifying, “Here are the kinds of decisions where we don’t move forward unless we have unanimous voting, like, everybody’s got to get on board, ” versus, “Here are the decisions that, you know, we’re going to talk about it, and then we may agree to disagree, and then we’re going to move with whatever the consensus is and we’re going to ask everybody to be on board with that.” And I feel like it’s something that sometimes happens implicitly in partnerships or just, you know, group meetings in general, but sometimes it doesn’t happen in a way that everybody is happy with, particularly if you’re the one that’s getting outvoted on an issue.

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TAGS: compatibility, assessments, Partnerships

Podcast #4: Does your business partner share your values?

Tanya: There are 12 different driving forces and we like to look at the top 4 for each person. And it’s kind of where you start to see whether someone values doing a lot of research versus making their decisions based on intuition, or whether they value collaborating, or whether they value doing things the way they’ve always done versus thinking outside the box. It’s kind of just these different trade-offs of what values people bring in. So we kind of like to see how they line up.

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TAGS: compatibility, problems, values, Facilitation, Partnerships, Merging

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: assessments, compatibility, Facilitation, Partnerships

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, compatibility, Mediation, Facilitation, Coaching

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

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

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

Learning From Partnership Failures

"The only real mistake is the one from which we learn nothing." - Henry Ford

We all hope to learn from our mistakes, so we found it a little surprising when our recent survey of about 150 business partners revealed a troubling trend. Only 38% of those who had been in a previous partnership that “ended badly” report having worked with their current partner prior to joining forces. This is slightly lower than for those in first partnerships.

Working together before taking the leap into a partnership is one of the most important steps that prospective partners can take. Here is a reminder of the top three things that potential partners should do to prevent being part of the grim 70% failure rate for business partnerships:

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TAGS: Partnerships, Coaching, Co-founders

THE PARTNERSHIP RESOURCE

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

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