How can I ensure that my business partner puts his fair share of hours into the business rather than, as he currently does, swan in for an hour or so before ‘working from home’?
Choosing the right business partner can make or break your business, and the majority of business partnerships fail, and some fail spectacularly.
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It is a critical decision because the synergy created from a great partnership can really propel a business and put it on the right path to succeed.
At Milan Direct, a key part to our success can be attributed to the great partnership that I have with my business partner Ruslan Kogan (of Kogan Technology fame). Our partnership is one of great synergy and we have enjoyed dominating together from day one.
So what makes a good business partner?
First up your business partner should bring a different and complementary skill set to the table. There is no point in both of you being brilliant at the same things. If that is the case, you don’t need a partner and can go it alone.
At Milan Direct for example, Ruslan brought to the table a skill set that includes, in particular, his online expertise, negotiating skills, and widely recognised technical understanding of business systems, and experience in dealing with China (to name just a few).
What I brought to the table was my furniture industry pedigree and specialised product knowledge, as well as a marketing and strong retail background. Relevantly, we are both committed and focused on the business.
Collectively, we ticked all boxes, and were able to get Milan Direct up and running without too much trouble.
Is your workplace results oriented or time oriented?
The key question you should be asking yourself is whether your workplace is results oriented or time oriented?
Does it really matter how many hours your partner puts into the business if they are getting the results?
At Milan Direct, we are 100% results oriented, especially when it comes to the business partnership that Ruslan and I have.
As long as results are being achieved and projects completed successfully we care very little for the time spent in doing so.
As for working from home, some of the best work that both Ruslan and I have done has been from home at 2am in the morning or even poolside in Ibiza.
In running an online business it really doesn’t matter where you are, as long as you achieve the results.
Must have trust
At the end of the day, you simply have to trust your business partner 100% and know that their output and results will be on par with your own. Everyone has his or her own style, and if you have complete trust and are honest and upfront with your partner, then “time” should not be an issue.