Aries June 2014

1
Give credit
where credit is
due. Acknowledge
each other’s
contributions
quickly
and often.
3
Admit your
mistakes. When
you don’t, it’s
a relationship
killer.
CAN THIS WORK?
Steps to take before you sign
for that small-business loan.
Start With
Baby Steps
How do you find out whether you
have the right work chemistry?
Test the waters by doing a project
together that has a defined beginning
and end. You can evaluate
it and see how well you work
together before you invest all
the time and energy in starting a
business.
Determine
Your Roles
Friendship works well when
people are similar , but a business
partnership can benefit from
personalities that naturally create
checks and balances. Matching a
big-picture person with someone
2
Keep your eye
on the prize.
You have shared
goals—that’s
your priority.
who loves details...or someone
who’s great at marketing with
someone who’s great at numbers.
You can move twice as fast when
you have everything covered. Put
each person’s responsibilities in
writing and review those roles
every few months. Writing brief
updates of daily accomplishments
to keep each other connected
and motivated.
Give Yourself
A Way Out
Draft a partnership agreement.
You might start on the same
page, but you can end up having
radically different visions. An
independent business consultant.
Lawyers are great at figuring out
what the worst -case scenario
is and starting a conversation
around it. Having an exit strategy
in place takes away the
fear of what could happen. And
deciding what you will do with
your assets—do you need a non
compete agreement to keep your
clients if your partner leaves?
Who owns the materials you create
together? — your future.
Find A
Referee
An impartial third party, such as
a business consultant or someone
you know in your industry,
can help you and your partner
solve problems in a strategic—non-emotional—way.
Get
an adviser on board who really
believes in both of you and cn
understand your business when
growing plans do arise.
Schedule
Check-Ins
Talk with your partner outside of
the work, so it’s just the two of
you and there are no distractions.
In this meeting talk about the
uncomfortable issues at hand.
The more you communicate with
each other, the better the both of
you are off. This will make those
big decisions easier to make and
help you get to the top of your
game.
Make Time
For Your Friendship
In the office, take the friendship
off the table. But after-hours,
have some work-free fun. No
feelings are going to get hurt and
both of you can be bosses instead
of friends. When you leave
the work place go back to having
fun and leave it at the door. If you
talk about work in your free time,
you both will be angry with each
other and never take time away
from the place that brought the
two of you closer.
101 ARIES / JUNE 2014