Ross Sanner discusses how to go about establishing business partners.

1. ESTABLISHING
BUSINESS
PARTNERS
Ross Sanner

2. One of the benefits of starting your own business
is that you get to choose who you work with. It’s
important to pick someone that you trust and
shares the same vision as you. If you’re planning
to get into business with a close friend or family, it
may not all be smooth sailing. Just like any
personal relationship, you may run into rough
waters. To ensure you minimize the effect of the
storms and make navigating run smoothly,
consider some of their techniques.

3. Consider Your
Values
Don’t write the first line of your business plan
without breaking down your values. Having the
same values and beliefs about your company is a
crucial aspect to have. The values will affect what
you plan, when you plan, and how you plan it.
Their opinions will also affect how you run the
business and how you treat your employees. You
and your partner should share the same goals,
core values, and work ethic if you want the
business to succeed.

4. Clearly Define
Roles
An informal organization with vaguely
defined roles may work well in the beginning,
but it is not a sustainable model for the
future. Defining each partner’s job title helps
eliminate issues by giving each partner
control over their own domain.

5. Put It In Writing
A great rule in business leadership is to write everything
down. The practice of writing everything down is an
especially important rule to follow when it comes to a
partnership. Even if the partner is a longtime close friend,
writing up legal documents is critical. Thinking about all
of the things that could go wrong and how can handle
them makes it simpler to deal with when trouble
arises.Starting your own business is incredibly exciting
and rewarding. Having someone you trust and value as a
partner makes the experience even more rewarding.
Having balance and boundaries is a great way to
succeed.

6. Thanks!
LINKEDIN
Ross Sanner
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@ThinkGrowthLLC
ThinkGrowthConsulting.com