more successful partners, a boss-talks webinar .pptx

+BOSS-Talks

Partnering

Presenter: Jan Triplett, Ph.D. CEO Business Success Center Sales, Marketing & Financial Strategy

©Business Success Center, Austin, TX 2013. All rights reserved. 1 #BOSSPartneringJan2014

+ This is me.

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

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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

+Goal of this BOSS-Talks

n  Get ideas to share and use in your business situation.

n  Information is from: n  My book, Networker’s Guide to Success 3rd Edition,

n  Networking to Go (to be released November 1) and

n  My posts at http://ownersview.com/owners-viewblog/


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(Business Ownership Success System)

+Agenda

n  Kinds of Partners

n  Things to think about

n  Q&A as we go along

n  Worth Reading

n  Events Worth Attending


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+Business Partners


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Official and unofficial. Legal term.

With family or friends With another business

+What to consider


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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

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©2011 Business Success Center,

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.

Padre noble, hijo rico, nieto pobre.

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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

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+Partners Contribute

n Money

n Property

n Labor

n Skills

And argue about all of these, too!

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+Why Problems Arise

n  Different goals

n  Different styles

n  Different ethics

n  Different approach

n  Different priorities

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+When Good Partnerships Go Bad

n  Financial Partner/ Sweat Equity Only Partner

n  Spouses, siblings, friends

n  Hush, hush meetings – uninvited consequences

n  Similar skills & abilities

n  Small vs. large org experience

n  Two bosses too many

n  Your issues?

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+Best Partner Practices

Avoiding Problems

n  Best Partner Profile™

n  Compatible Vision & Desired Outcome

n  Agreement on transference strategy & timeline

n  Systematic approach

n  Job descriptions for all

n  Partnership agreement in place

n  Open communication

Reducing Problems

n  Identify areas of difference or disagreement

n  Set up rules of engagement/ how to fight fair

n  Abide by rules, adjust as necessary

n  Support each other; avoid one-upsmanship

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14 Resources n  Meet & Grow – free initial meeting (email marsha@ownersview to schedule)

n  BSC’s Income Generation Partnership — select opportunity for clients wanting an active partner to help generate income.

n  Consider reading: n  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.

n  On introverts & extraverts n  http://ownersview.com/3-networking-skills-every-introvert-has/

n  For other business strategy resources, check out: n  http://www.ownersview.com n  Jan Triplett and Daniel Diener’s guest posts for the Business Bank of Texas



15 Coming Up

n  Next BOSS-Talks online Tues. Feb. 4(11:00-11:30 CST) “Scalable Business Models”

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n  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.

n  First Looks Forum Mentoring Program Feb. 18 Must apply by Feb. 10. Free

n  Owners MBA (Go here for more info)

Find out more about our other business development events at http://ownersview.com/owners-mba-tools/business-development-meetings/

Want to talk? Email me ([email protected]). The initial meeting is free.
