“Alone we can do so little; together we can do so much” – Helen Keller.
There lies an idea in your mind. It sounds so clear, even in the noisiest of places. You have it all mapped out, but lack the resources to check it off your bucket list. You are stuck, almost drowning in the state of powerlessness. Perhaps with just a little help, this seemingly difficult puzzle can be solved.
Goals are prerequisites to success, but partnership breathes it into life. In this regard, the adage that “two heads are better than one” speaks volumes. During downtimes, a nudge from your partner can refocus you towards the bigger picture. A business venture doesn’t have to be such a rocky roller-coaster.
Here are 5 ways to achieve your goals faster through strategic partnership:
1. Spell out the vision
The one who wears the shoes feels the itch. It’s hard to have a grasp of another’s vision when you aren’t in sync with them. Entrusting your goals in someone else’s hands is a huge deal; their attitude towards it can either make it or break it. Founders of Hoodlum Ball Records, Jonathan Hay, and Ranna Royce, explain that having a common vision (by itself) isn’t enough for a partnership to thrive; the depth of one’s vision determines the outcome.
If your partner doesn’t see the same picture you see, they won’t be as motivated to push on. This will create an imbalance in the momentum because one person will be bearing a lot more weight and will end up extremely exhausted.
2. Create open communication
A business partnership is often compared to marriage. Inevitable conflicts can be minimized with effective communication.
Businesses sometimes require spontaneity. There can be a tendency to make decisions solely in the heat of the moment, but you must always remember to carry your partner along because their opinion is just as important as yours.
Don’t assume that your partner understands your expectations of them; they might be genuinely oblivious. Speak up and address any concern about unacceptable behaviors, but always in a civil manner. Sweeping issues under the rug can only ignite a future problem.
3. Complement each other
If you could do it all by yourself, why collaborate with someone else? Combined resources are productive only when they are put to good use.
Partners are meant to complement each other and make up for inadequacies. If you mirror your partner, they won’t contribute anything different from what you already bring to the table. Partnership goals are more attainable when each partner brings their own unique skill set. Royce is a gifted songwriter and shines effortlessly with her lyrical prowess while Hay brings his platinum-winning production skills to the table to fine-tune the sound. An appropriate division of labor, based on individual strengths, aides partners in breaking new grounds.
4. Recognize your values
Partners do great when they acknowledge each other’s values. It’s imperative for both parties to understand that they are working together towards a common goal. Each person’s contribution, no matter how small, is part of the success story.
Lack of respect is counterproductive; it breeds conflict. Partners can do so much together when they see each other as one entity. Don’t be quick to write off your partner’s ideas; give them the benefit of the doubt.
5. Have a legal contract
No one enters a partnership expecting a fallout. But, life happens and plans can change. Partnerships with legal clauses do better, especially in unforeseen circumstances. When partners cannot agree on major decisions or see eye to eye any longer, they are bound by law to be civil.
On top of the list is percentage split – this should always be agreed on, even if you are the best of friends. When both partners are bringing the same value to the table, it’s only logical to have a 50 – 50 split. If for any reason one person has a higher stake, this should be clearly stated so that the other person doesn’t feel cheated.
Embarking on a business venture with someone by your side is always comforting. You get a different perspective on issues, explore uncharted waters, and weather the storm together. Hay and Royce have already successfully executed #1 Billboard albums The Whoodlum Ball with DJ Whoo Kid and Jazz (Deluxe) with Mike Smith. They are currently working on upcoming albums The Hoodlum Comedy Club and Jail Tatts. Hay and Royce get so much done as a unity, harnessing the power of two.