{"id":13055,"date":"2014-09-22T01:13:26","date_gmt":"2014-09-22T08:13:26","guid":{"rendered":"https:\/\/svapm.org\/?p=13055"},"modified":"2014-09-12T08:55:44","modified_gmt":"2014-09-12T15:55:44","slug":"handle-problem-business-partner","status":"publish","type":"post","link":"https:\/\/svapm.org\/?p=13055","title":{"rendered":"How to handle a problem business partner"},"content":{"rendered":"

Hello, this is Laura Lee Rose. \u00a0I am a speaker and author.\u00a0 I am an expert in time and project management.<\/p>\n

I help busy professionals and entrepreneurs create effective systems so that they can comfortably delegate to others, be more profitable and have time to enjoy life even if they don\u2019t have time to learn new technology or train their staff.\u00a0 I have a knack for taking big ideas and converting them into smart, sound, and actionable ideas.<\/p>\n

At the end of the day, I give people peace of mind.<\/p>\n

Today\u2019s question came from a busy professional interested in freeing some time and space to advance in his career.<\/p>\n

\"Mirroring<\/a>\"report<\/a>I’ve been having major difficulties with my business partner for a new venture we’re trying to grow. Any tips\/advice for remedying the situation?<\/i><\/p>\n

Most problems between partners occur because there isn\u2019t a clear definition of roles, expectations and responsibilities.\u00a0\u00a0 One person often sees themselves as the big thinker but needs someone that can follow-through on those items.\u00a0\u00a0 The other person that is great at execution needs someone that can sit down long enough to clearly articulate the path.\u00a0 Neither role is sufficient for a successful business.\u00a0 If each one doesn\u2019t understand what needs to be accomplished for a successful business, it will be a difficult road.<\/p>\n

If you haven’t already done so – create your business plan with roles, expectations and responsibilities. Clearly outline expectations AND consequences of not completing or complying with the roles and responsibilities. Have specific, measurable, achievable, relevant and time-bound tasks and goals for each role.<\/p>\n

\"Mirroring<\/a>
\nIf you have this well outlines and signed by the participants before hand AND the consequences outlined (such as buy-out or other exit strategies) – it will make it easier to find the right combination of collaborative partners.
\nIf you don’t have this level of business plan created – DO IT NOW. Have this critical discussion and create your SMART goals. If she isn’t interested in discussing or signing such a business plan – execute your exit strategy with her and find someone else.<\/p>\n

Your simple business plan should contain the following (but not limited to):<\/p>\n