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Home Resource How to Build a Strong Business Partnership

How to Build a Strong Business Partnership

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Part martyr and part charlatan is the perfect definition of a rock-solid entrepreneur, a hustler. A good businessperson isn’t afraid to break a ton of sweat, but they are no fool – they know the importance of talking the talk. This has a lot to do with maintaining strong partnerships – going at it all alone is not only difficult but often borderline impossible. Maintaining good business relationships is mostly natural, you just need to get in touch with this part of your personality.


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Your partner is your friend

Some of the most successful businesses have managed to thrive as a result of two best buds coming up with a cool business idea. Most business partnerships, however, aren’t results of long-time friendships. Here’s the thing: you should consider your partner your friend from the beginning – if a potential associate is not someone you would befriend, it’s probably not going to be a match made in heaven. The most important (and often neglected) part of running a business is creating a good atmosphere – without a relaxed vibe and a ton of mutual understanding in the air, things are likely going to get tense, which is completely unnecessary.

Act like it

Being all cool and relaxed while doing business with your partner is only a part of a sturdy business relationship. A good business relationship requires a dose of intimacy that can’t be achieved in-office. This is why you need to find a way to reinforce the personal relationship that you have with your partner. Take your business associate out for a couple of drinks every once in a while; make a regular thing out of it, or simply make sure that you do fun things together on occasion – you have no idea how essential bonding is for building strong business relationships.

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Know when to give way

No matter how smooth, even the most perfect of relationships sometimes craves easing up and giving in. After all, finding a way for everyone involved to be happy is one of the pillars of actual business success! This requires knowing when to give way to someone else’s ideas and opinions, and in order to be able to do this, you need to be humble – you are definitely not always right, and neither is your partner, you are both learning as you go. Being hell-bent on realizing every idea that you have in mind will never breathe success – the whole point of partnerships is the fact that two brains are better than one.

Know when to stand up for yourself

Of course, you shouldn’t turn into a person who’s okay with everything. You simply won’t get any respect that way. The key to a successful entrepreneurship is knowing when to let go and when to fight back. Disagreements between partners are rarely comfortable experiences, but they do tend to work as filters. Keep in mind that every good relationship is prone to occasional disagreements for a good reason – they help clear the air of negativity.

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Treat them like royalty

…and by this, I don’t mean sucking up. No, you’ll actually feel the need to do something awesome for your partner if you try it a couple of times. Remember their personal anniversaries and related birthdays, and buy them a neat item or a gadget every once in a while.
If you are partners with someone on the other side of the globe, make sure that their ride form the airport is a comfortable as possible. For example, if you are based in Australia’s largest city, don’t hesitate to hire a quality chauffeur service in Sydney and you’ll probably get the same treatment in return.

Strong business partnerships are rollercoaster rides throughout our professional lives. Some might say that you shouldn’t take these things personally, but, in reality, a perfect balance between professionalism and friendly intimacy is the key. Keep in mind that your partner is your friend – treat them well and you’ll get treated the same way, but don’t be a person who’s okay with everything – this will grant you no respect.

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