I am going to call this “sticking together” because that is exactly what it takes!
An entrepreneur for 5+ years, 4 different businesses, partners came and went, businesses saw it’s hi’s and low’s. Was talking to a friend a couple of weeks before I was told that the partners parted ways, one is suing the other.
How do you stick to your partner? What to expect and more importantly what shouldn’t you expect?
So the thing about partnership in business is, it is just as important as a love affair or marriage. It requires the same amount of integrity, honesty and loyalty or sometimes more as this more a business relationship and there is lesser or no forgiveness sometimes...
There should never be who is bigger kind of thing, you can secretly consider yourself the bigger person but never ever tell anyone, including your partner that you are bigger. Even if it is obvious who the takes the bigger piece of the pie, you don’t necessarily have to say it out.
Your business partner is a freaking human being, they will be flawed and guess what you’re not perfect either, so learn to embrace each other’s flaws than pinpointing them. You can only do this when you partner fails to see their flaw or lives in denial about them, even then exercise absolute caution and do it with respect.
This is a business relationship and involves money, and here you have 2 choices, question everything or question nothing. Whatever you choose, follow it a 100%, don’t question only when you suspect something or trust your partner enough that he/she won’t take your money OR put your partnership above the money. Remember, if you’re an entrepreneur you are already smart so you can make money. You, however, won’t get people back once you lose them, so it’s kind of better to put the money behind. And if you are the partner that is handling the finance, just make sure you are absolutely transparent about the transactions and expect your partner to suspect something and be prepared to handle a situation.
It's important for you to cover each other’s back. It’s extremely critical for you to be on the same page as your partner, not one person should hold the control to break your partnership, not even our spouses. If anyone talks bad about your partner, it's important for you to discourage it and ensure that you clearly tell that person that you don’t appreciate it. And you should never engage in talking bad things about your partner, not even in your dreams.
Park your ego at the door, ego in any relationship fucks you over. Business relationship with your partner is no different, not touching upon this as this is the most basic requirement in a business partnership.
Last but not least, every relationship comes with a certain amount of respect and as long as you withhold your side carefully and responsibly, you’re good!
Good luck and thanks for reading!