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Are You Involved or Committed to Your Partnerships?

There’s a big difference between being involved in a partnership and being committed to one.  Being involved is often disguised by a lot of activity, like golf tournaments and long lunches in which a number of decent ideas are hatched.  But, don’t be fooled.  Activity does not always equate to sales results, for you or your partners.

Commitment, however, is recognized by growth - growth that is spurred by a well-designed plan in which both parties invest.  How well parties weather challenges is also a way to test commitment.  Committed partnerships tend to be resilient and participants are able to take the high road during inevitable challenges vs. the finger pointing.

A lot of energy is spent courting, qualifying and, ultimately, bringing on a new business partner. Why not do everything you can to ensure that partnership withstands the test of time?  While a “pre-nup” may not be practical, we offer critical questions to test the potential for partnership commitment before you sign on the dotted line:

1. How willing is each partner to invest in this partnership and for how long?

2. What will each invest to make this a successful partnership?

3. How does each partner define success? Is it activity (involvement), or is it mutual growth driven by a plan   (commitment)?

4. How will conflicts be resolved and by whom?

So, is your company involved in partnerships, or committed?

May 24, 2012  ·  

15 comments so far. (Post your own)

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A very well written article. We also have a group of 4 people and we work hard to get sales and try to fulfil our clients projects.

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It is one of the best practices in any industry to involve in partnerships; it will help the person to know more about commitment. I came to know by an blog service that young businessmen are lacking this tip and they are simply investing huge amount and wishing to get income through the investments.

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