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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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
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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.
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Goal of this BOSS-Talks
(Business Ownership Success System)
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Get ideas to share and use in your business situation.
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Information is from:
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My book, Networker’s Guide to Success 3rd Edition,
Networking to Go (to be released November 1) and
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My posts at http://ownersview.com/owners-viewblog/
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©Business Success Center, Austin, TX 2013. All rights reserved.

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Agenda
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Kinds of Partners
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Things to think about
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Q&A as we go along
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Worth Reading
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Events Worth Attending
©Business Success Center, Austin, TX 2013. All rights reserved.

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Business Partners
Official and unofficial.
Legal term.
With family or friends
With another business
©Business Success Center, Austin, TX 2013. All rights reserved.

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What to consider
©Business Success Center, Austin, TX 2013. All rights reserved.

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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,

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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,

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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,

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Partners Contribute
n Money
n Labor
n Property
n Skills
And argue about all of these, too!
©2011 Business Success Center,

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Why Problems Arise
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Different goals
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Different styles
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Different ethics
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Different approach
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Different priorities
©2011 Business Success Center,

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When Good Partnerships Go Bad
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Financial Partner/ Sweat Equity Only Partner
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Spouses, siblings, friends
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Hush, hush meetings – uninvited consequences
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Similar skills & abilities
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Small vs. large org experience
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Two bosses too many
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Your issues?
©2011 Business Success Center,

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Best Partner Practices
Avoiding Problems
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Best Partner Profile™
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Compatible Vision & Desired
Outcome
Reducing Problems
Systematic approach
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Set up rules of engagement/
how to fight fair
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Abide by rules, adjust as
necessary
Support each other; avoid oneupsmanship
Agreement on transference
strategy & timeline
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Identify areas of difference or
disagreement
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Job descriptions for all
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Partnership agreement in place
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Open communication
©2011 Business Success Center,

14. Resources
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Meet & Grow – free initial meeting (email marsha@ownersview to schedule)
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BSC’s Income Generation Partnership — select opportunity for clients
wanting an active partner to help generate income.
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Consider reading:
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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:
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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.
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15. Coming Up
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Next BOSS-Talks online Tues. Feb. 4(11:00-11:30 CST) “Scalable
Business Models”
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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.
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First Looks Forum Mentoring Program Feb. 18 Must apply by
Feb. 10. Free
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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.
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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.
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