Building bridges, not walls or isolated islands,

For Entrepreneurs / Investors / Business Developers and Decision-makers,

These days WE should believe in building bridges, not walls or isolated islands,

The alliance, cooperation, joint businesses and the participation of the corporate teams are better than working alone in this time and facing increasing competition without support,

Cooperation will let you gain more experience and getting involved in Larger businesses instead of making only small businesses,

The goal is to grow more than still being small Startup, competing alone without creativity and innovation will make you lose, and you should know that investing is not only funding, investment a big word contain lots of road-maps and without these previous support seems you will shut down after one year two years .....

Before starting to negotiate a partnership with someone else, consider the following:

? Identify potential partner and identify the status of personal and professional values, ideas and goals.

? Consult a lawyer and accountant to develop a clear and accurate written partnership agreement.

? Explain a plan for you and your job if you are forced to do so over time.

? Business partners often start business together with a little planning and few basic rules. Sooner or later, they discover in the hard way that what is not said or planned does often lead to anger and frustration when expectations are not fulfilled.

? Partners can disagree on myriad issues, including business ethics

? Conflicts of financial and administrative objectives and methods of work and leadership.

The following steps will help you build a valid business partnership:

First, ask yourself: Do I really need a business partner to build a successful company?

We must seek partnership when the presence of a partner is critical to the success of its origin

- When a potential partner has

? Financial resources,

? business relations to provide support

? or vital skills that may be lacking

It may be better for the next reason to hire another person as an employee or specialist in what you lack.

Communication between partners at each stage of the partnership is important, especially at the beginning:

There is a common misconception that individuals jump into a business before each one learns about each other.

You should be able to communicate in-depth with the other party so that you can express opinions, ideas and expectations

If you have not worked with this partner before, test the partnership by collaborating on a small project together

So that each of you recognize the other's skills and ability to cooperate together.

This is also a way to learn more about both your personality and your core values.

Ideally, the skills of professional partners should complement one another:

They are integrated but do not interfere. For example, you may have the ability to see details while the other partner has the talent to see the bigger picture.

You may be an expert in marketing and sales, while other partner prefer to stay in the background dealing with financial matters.

To gauge the extent to which they can work together, ask the basic questions of those who have responded to the following:

Does this person share his professional interests, goals, values and ideas?

Do you trust the partner's motives and personality?

What aspects of everyday life and work do you agree with?

Establishing a clear and precise partnership agreement:

Once a decision has been taken to start a business with the partner, a partnership agreement should be established with the help of a lawyer and an accountant.

Take this step no matter who your partner is.

People with strong personal relationships are confident that their relationships are unbreakable

Where their relationships are supposed to help them overcome any obstacles along the way.

Big mistake. A written and documented agreement must be obtained, no matter how strong the relationship is.

Each agreement must address three critical areas:

Compensation, exit requirements, roles and responsibilities.

The percentage of each partner's share in the business includes the amount invested by each partner, where they come from, and how and when the partners will pay the amounts.

Usually the partners are equal so that the property is 50% in the initial investment.

But the conditions can vary greatly. For example, one can contribute as a partner more money if the other partner can achieve contacts and experience in the commercial establishment.

As business grows and changes occur, partner profits must be adjusted accordingly.

For example, partners may agree to work initially without paying dividends,

And get money after certain targeted revenues are reached.

If one partner brings to the established more customers

Or if a partner is in a certain position in the management of the establishment and is given more or less time,

The contract should be placed so as to provide some flexibility that allows you to adjust the distribution of payments without problems.

The agreement shall also include the way of exit from the project:

The contract should stipulate the conditions that determine the circumstances in which a partner can purchase the other's share

- or if one wants to terminate the partnership at work and sell his share to any outside buyer. As an example, we can say that the other partner should buy the share against a pre-negotiated percentage of the current business value.

The contract shall specify the method of exit if both partners do not wish to continue together:

Partners can also liquidate all assets and divide the revenue between them according to the agreement.

It is also a good idea for the contract to show in advance how the total value of the business is evaluated when the solution is completed.

The agreement shall specify the body that evaluates and the methodology used.

Outline your expectations of how your business is doing:

Clearly define the roles and responsibilities of each partner based on his or her skills and desires.

This will eliminate inconsistencies and conflicts and clearly show employees who have to report.

Place a daily communication system:

For example, they agreed to speak twice a day at certain times and reassess targets on a regular basis.

At least once a month or a quarter, sit together and discuss how you perceive the future of the business and the steps that will be taken to get there.

Addressing these issues at the outset will help you better focus on your work later on.

How to put the details of the establishment of a partnership in a written contract accurately and clearly through a lawyer and accountant, be an indication of the success or failure of the project in the future.

So what about Teamwork processes?

Teamwork processes have been identified fall into three categories:

Transition processes

These processes occur between periods of action. In this period, the team members can evaluate their overall performance as a team as well as on an individual level, give feedback to each other, make clarifications about the upcoming tasks, and make any changes that would improve the process of collaborating.

Task Analysis

Goal Specification

Strategy Formulation

Action processes

These processes take place when the team attempts to accomplish its goals and objectives.

In this stage, team members keep each other informed about their progress and their responsibilities while helping one another with certain tasks.

Feedback and collaborative work continue to exist in high levels throughout this process.

Monitoring progress toward goals

Systems Monitoring

Team Monitoring and Backup Behavior

Coordination

Interpersonal processes

These processes are present in both action periods and transition periods and occur between team members. This is a continuous process, in which team members must communicate any thoughts and/or feelings concerning either another team member or a manner in which a task is being performed. Furthermore, team members encourage and support each other on their individual tasks.

Conflict management

Motivation and Confidence building

Affect Management

Teamwork performance generally improves when a team passes through these processes since processes like these enhance coordination and communication between the team members and therefore increase teamwork and collaborative work.

So the partnership has several benefits:

- The power to make decisions

- Ease in providing and strengthening capital

- Reduce the risk ratio

- Distribution of effort and work on partners

Do not fall into the trap that your friend with whom you all agree will succeed. On the contrary, you may succeed with someone who is totally opposite to your personality.

On the whole, a partner at the beginning would motivate you and give you power. The community has power, but beware of collapse if you do not control everything between you from the start.

Let's share our experiences & grow our teams and develop our skills to make our harvest profitable and sustainable.

So build your own bridges, not staying in your comfort zone between four walls or isolated islands.

#Entrepreneurship

#StartUp

#SMEs

#sustainability