For many business owners and prospective business owners, it often occurs when you consider the possibility of forming partnerships with other entities. This entity can be another business, individual, or a group of individuals. This article discusses issues of partnerships with other individuals. Whether you are an existing business owner, or think of starting a new business, at a certain stage, consideration is often given to go alone, or form a partnership. There are many reasons for people to form partnerships; Generally there are shared goals, or recognition sharing potential certain opportunities. For partnerships to succeed, there must be more than a common goal for those involved. The important component is trust in both parties, in relation to voice communication between the parties. Below is a list of advantages of partnerships.
Profit
Finance – Investment and loans can be distributed
Workload – Workload decreases by sharing between two
Planning – Planning can be increased by having two heads see ideas
Stress reduction – stress running a business can be reduced
Focus – Better focus can be provided by separating responsibilities for various fields
Opportunities – Better positions to see opportunities
Growth – Business can grow faster as a result of the above advantage
While each point in the list above has the benefits, the last three, which I like to call the fog provide the biggest benefit for business success and must be the main consideration when forming a partnership. With regard to potential fog and partnerships, this is a question that you need to ask yourself.
Question
Does the partnership allow me to focus on certain business fields, thus increasing this area operation?
Will the partnership improve the ability to identify and continue new opportunities?
Will the partnership provide opportunities for greater growth, then now it might happen?
If you cannot answer yes for each of these questions, I suggest you do not continue with potential partnerships, because it will not benefit the success of your ongoing business. In the ideal scenario, successful partnerships can provide far greater opportunities and faster realization of business and financial growth. But there is a loss to form a partnership and need to realize some traps before starting a joint venture. You will see that the points listed as an advantage also form a list of weaknesses.
Deficiency
Financial partners may not approve financial problems, such as the level of investment and remuneration
Workload – may not spread evenly among partners
Planning – Partners may not approve the direction of business
Stress – can increase because the difference mentioned above
Focus – lack of focus and settlement of tasks by a partner
Opportunity – like with focus, one pair may always pursue the next big thing than the task
Growth – Business does not have growth due to the above problems
So why are both the same? There is a dichotomy between advantages and disadvantages in partnership. What can be an advantage on the one hand, can, if it is not implemented properly loss.
Why does the partnership fail
It is a well-known fact that many partnerships fail, even successful. The reason for failure is as much as the amount of failure, but I will give you one here which I think is the main reason for most partnership failures;
Perception
When everything goes well, perception is not such a problem, but when problems arise, even small children, there is a perception that the other party is guilty. One or both partners may feel that other couples do not draw their weight, not enough to commit, have lost interest, have lost hunger, holding them, etc., R
