BUSINESS PARTNERSHIPS are like marriages. It is best to enter into partnerships with people with whom you are equally yoked.
Today, I will highlight the personality traits to assess and avoid before entering into your next partnership.
The shirker
Delegation is an important tool which brings about efficiency. However, there is a difference between delegation and just not contributing. Shirkers fail to contribute
Miss Excuse
Miss Excuse is cousin to Shirker. She will find every excuse in the book to not commit to a task. She will be the only person on earth who has children, a husband, a job or any other activity. God forbid you are the single, childless person in the business. Then, you will be expected to do everything because the you either “have all the time in the world” or you “have no life”.
The showman
Have you ever met someone who looks amazing on their resume, aces the interview and when the real work starts cannot deliver? These people get highly offended when they are asked to be accountable for their actions and promises. Sometimes, the “non brand name” person brings more to the table than the person with an amazing profile.
The billionaire before he is a millionaire
Some of us become so consumed with our dreams that we forego actualising them and settle for faking it until we make it. As soon as the business makes its first dollar, they are down on the West Coast living like if they are Bill Gates or Warren Buffett. These partners will milk the company dry trying to live a lifestyle that is not commensurate with the business income.
The Greed
Many business persons will catch at every cent possible and fail to place any effort on building a sustainable brand that can last decades. The Greed will focus solely on making money even when the standard or quality of the business drops. No focus is placed on the brand or evolving. The only focus is grabbing at money.
Scar
Do you remember the “Lion King” character Scar? Scar was second in line to the throne. Everyone in a business has a role. Whilst it is encouraged that partners should support one another, there can never be two of the same thing. If you are the CEO and your second-in-command consistently does things to undermine you, then your partnership is doomed. Equally, Scars exist in employees as well! There are many instances when employees eventually behave as though the business is theirs. Some even seek to pull the business from under one’s feet. There is enough room for everyone in a competitive market. If you are working with someone or for someone and you have outgrown your time with them, do not be a Scar. Go with God and start your own business.
What moral compass?
Never enter into a business with someone who does not have the same moral standing as you. Moral standing is not religion. I have been in partnerships with atheists and they were amazing. Moral standing takes into consideration aspects such as if the person will want to cheat the system, can be trusted, what lifestyle they lead and what is their guiding philosophy.
There are many progressive, positive people out there who we can partner with. Partnerships are also important. Many rather own 100 per cent of nothing than 30 per cent of something great. I truly hope that this does not hinder persons from wanting to be in partnerships but rather, see the red flags prior to entering into such business relationships. God bless you and have a wonderful Sunday!
Toni Thorne is a young entrepreneur and World Economic Forum Global Shaper who loves global youth culture, a great debate and living in paradise. Email: Tonithorne@hotmail.com.
