Business partnerships are fraught with risk (depicted by my grandson’s famous 'frowny' face).
Even before money (too much or too little) becomes the focal point of the relationship stress, one common theme that I have seen that causes issues is unclear communication. We just don’t know, as people, how to say things that reduces expectation-to-reality gaps.
As their CEO coach, I had 2 of 4 partners bring up the topic of how frustrated they were with the other 2 partners (the other two were minority partners and not meeting with me) on recent meeting. They were seething over something that had just happened about an hour before we met.
They had recently paid for an expensive networking event with a key client that the other 2 partners had brought to the firm. They had paid for the other 2 partners to get on a plane and also participate at this activity. They told the other partners that the event was paid for. Later, when some other bills came from the activity, my two partners were astonished to see that they other 2 partners didn’t want to contribute any of their funds even though the original pair were willing to ‘share’ 50/50 of the additional new costs. It was unbelievable to them that the other two could be so ungrateful. They thought that the other two would at least contribute towards the minor, but additional, costs.
Here’s what we learned together after we discussed the situation:
- The majority partners valued this activity and wanted to participate. They didn’t ask the other two whether they wanted to pay-to-play, or even go at all.
- The other partners already had a great relationship, and evidently, they went golfing on a regular basis with this key client.
- The payment of the networking event was unconditionally done with the intent to show how much ‘better’ the first 2 partners were compared to the minority partners.
- For all of the success of the business, the majority partners were still in insecure.
So what were the two key takeaways?
One - Usually measured by money, we are subconsciously driven to value our worth based on sales, profits, income and net worth. This rat-race programming kills the ability to truly be present, to lead with love and to help with invitation. It’s just how things are for most of us. SO, the big takeaway was to continue to work on self so that we were able to create some spade between stimulus and response, and not be unconsciously incompetent in our reactions.
Secondly - on a more practical note, the goal at work is to just slow down. Slow down enough to ask if the event was what was needed by the business, if it could be afforded, if it was what the other partners wanted to participate in, and if there was interest, if they were interested with or without financial commitment.
Just slow down. It helps in many ways, not just in business partnerships. My wife can attest to that!
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