More Successful Partners, A BOSS-Talks Webinar .pptx

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Are you considering finding a business partner or want to make your existing partnerships more successful? Start with a Best Partner Profile™. Then make sure you've dealt with: the agreement, liability, responsibilities,conflicts, and controls.

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More Successful Partners, A BOSS-Talks Webinar .pptx

  1. 1. + BOSS-Talks Partnering Presenter: Jan Triplett, Ph.D. CEO #BOSSPartneringJan2014 ©Business Success Center, Austin, TX 2013. All rights reserved. Business Success Center Sales, Marketing & Financial Strategy 1
  2. 2. + This is me. We produce smarter owners, better sales, scalable businesses! •  We’re the place to come for tools & systems to ramp up or scale your business •  30 years of successful results •  High tech to no tech firms •  Service & product businesses •  A-Z industries & professions •  Award-winning, Internationally recognized •  NCRC Professionally certified •  Proud to be green ©Business Success Center, Austin, TX 2013. All rights reserved. 2
  3. 3. + 3 Goal of this BOSS-Talks (Business Ownership Success System) n  Get ideas to share and use in your business situation. n  Information is from: n  My book, Networker’s Guide to Success 3rd Edition, Networking to Go (to be released November 1) and n  My posts at http://ownersview.com/owners-viewblog/ n  ©Business Success Center, Austin, TX 2013. All rights reserved.
  4. 4. + 4 Agenda n  Kinds of Partners n  Things to think about n  Q&A as we go along n  Worth Reading n  Events Worth Attending ©Business Success Center, Austin, TX 2013. All rights reserved.
  5. 5. + 5 Business Partners Official and unofficial. Legal term. With family or friends With another business ©Business Success Center, Austin, TX 2013. All rights reserved.
  6. 6. + 6 What to consider ©Business Success Center, Austin, TX 2013. All rights reserved.
  7. 7. + 7 Partners Share n Responsibility n Liability n Control In order to create the future of the business together or with shared agreement ©2011 Business Success Center,
  8. 8. 8 Padre noble, hijo rico, nieto pobre. What can happen. Translation: “Father, founder of the company, son is rich, grandson is poor.” • The founder works and builds a business • The son takes it over and is poorly prepared to manage and make it grow but enjoys the wealth • The grandson inherits a dead business with an empty bank account. ©2011 Business Success Center,
  9. 9. 9 From the wonderful people who brought us pizza Partnership laws originated in the Middle Ages from Italian merchants. • US Partnership Act (1890) • Uniform Partnership Act (UPA, 1914) • Uniform Limited Partnership Act 1916 ©2011 Business Success Center,
  10. 10. + 10 Partners Contribute n Money n Labor n Property n Skills And argue about all of these, too! ©2011 Business Success Center,
  11. 11. + 11 Why Problems Arise n  Different goals n  Different styles n  Different ethics n  Different approach n  Different priorities ©2011 Business Success Center,
  12. 12. + 12 When Good Partnerships Go Bad n  Financial Partner/ Sweat Equity Only Partner n  Spouses, siblings, friends n  Hush, hush meetings – uninvited consequences n  Similar skills & abilities n  Small vs. large org experience n  Two bosses too many n  Your issues? ©2011 Business Success Center,
  13. 13. + 13 Best Partner Practices Avoiding Problems n  Best Partner Profile™ n  Compatible Vision & Desired Outcome Reducing Problems Systematic approach n  n  Set up rules of engagement/ how to fight fair n  Abide by rules, adjust as necessary Support each other; avoid oneupsmanship Agreement on transference strategy & timeline n  Identify areas of difference or disagreement n  n  n  Job descriptions for all n  Partnership agreement in place n  Open communication ©2011 Business Success Center,
  14. 14. Resources n  Meet & Grow – free initial meeting (email marsha@ownersview to schedule) n  BSC’s Income Generation Partnership — select opportunity for clients wanting an active partner to help generate income. n  Consider reading: n  n  n  On business n  Blue Ocean Strategy by Kim & Mauborgne n  The Networker’s Guide to Success 3rd Edition, ebook by Jan Triplett at Apple, Amazon, & Nook or pdf from the BSC n  Thinking Big, Staying Small by Ruiz, Triplett, & Shipp-Evatt n  BSC Enewsletter “40,000 Foot View” on business strategy. Free. n  Checklist Manifesto by Gupta. On introverts & extraverts n  http://ownersview.com/3-networking-skills-every-introvert-has/ For other business strategy resources, check out: n  n  http://www.ownersview.com Jan Triplett and Daniel Diener’s guest posts for the Business Bank of Texas ©Business Success Center, Austin, TXTX 2013. All rights reserved. ©Business Success Center, Austin, 2012. All rights reserved. 14
  15. 15. Coming Up n  Next BOSS-Talks online Tues. Feb. 4(11:00-11:30 CST) “Scalable Business Models” ______ n  B2B Meetup — Government Contracting: The Contractor’s Point of View, Jan. 27, 11:45 online; Feb. 24 online interview with Mike Whiteside, owner of Black Dog Salvage and star of DIY and HGTV’s “Salvage Dawgs” on growing a business and a partnership. n  First Looks Forum Mentoring Program Feb. 18 Must apply by Feb. 10. Free n  Owners MBA (Go here for more info) Find out more about our other business development events at http://ownersview.com/owners-mba-tools/businessdevelopment-meetings/ Want to talk? Email me (triplett@ownersview.com). The initial meeting is free. ©Business Success Center, Austin, TXTX 2013. All rights reserved. ©Business Success Center, Austin, 2012. All rights reserved. 15
  16. 16. + Here’s to your success! Jan Triplett triplett@ownersview.com www.ownersview.com 512-933-1983 #BOSSPartneringJan2014 ©Business Success Center, Austin, TX 2013. All rights reserved. 1 6

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