Uncategorized January 11, 2020

Why Most Partnerships Fail

What’s happening Healthpreneurs. Today’s episode was inspired by a post in our group page about looking to form a partnership. I’m sorry to say, but forming a partnership is not a good idea.

Nevermind the fact that statistically speaking, most partnerships, whether they are personal or business end up failing.

That’s not to say that partnerships can’t be successful. Partnerships that have complimentary skill sets can be successful. The different skill sets that each person brings to the table complements each other and forms a complete unit.

When you partner up with someone who has the same skill sets, you’re going to butt heads. For example, when you have a partnership where both people are visionaries and both are good at sales and marketing, you’re going to butt heads.

If you are going to partner with someone or bring on team members, you need to clearly define what I call “The Four R’s”:

What are the Roles, Responsibilities, Requirements and Results.

People want to know how to be successful and when you clearly define these four “R’s”, people know what to shoot for to define success.

It’s better to hire a team than a partnership. If things are working out, it’s easier to fire a team member than it is to buy out your partner.

Here’s what I’d like you to chew on.

If you’re looking to partner with someone figure out what it is you’re trying to avoid doing. If it’s a major part of your business, you probably should figure it out first. Once you’ve gotten a handle on it, then you can think about who you’d like to bring into your business to handle that thing.

If you this is something you need help with, I invite you to go to workwithyuri.com where you can book a call with us. We’ll help you figure out where you’re at, where you want to go and help put together a game plan to get you there.

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