Business Partners
We’ve been amazed over the years how many small business owners we’ve met who have sworn off having a partner in their business.
This conclusion has often been reached without any personal experience with a business partner, or perhaps just one bad experience with a business partner.
We think business partnerships can be wonderful for so many reasons when done right. Not only is MVP the result of a 20+ year partnership, but we’ve also coached dozens of business partners over the years to help them make the most out of their business relationship.
Business Partners
Whether you’re already in a business partnership or you are thinking about it, we know you will enjoy hearing some of the story of the Midan Marketing partnership between Michael Uetz and Danette Amstein.
They covered many of the details of their growth story over the years including how being partners who have complementary styles and a common passion for an industry they both love has been a big part of their success.
Service Offerings
We’ve seen a lot in our decades of coaching business partners. Below are some of the most important items to address to ensure success for both your business as well as your partnership:
One of the best ways to figure out who is “in charge” is to ask your team. Many partnerships are “equal” in terms of ownership or decision making. Ultimately, someone needs to be in charge to move the company forward.
Are there times you wish you didn’t have to “deal with” having a business partner? Are there conversations you’ve been avoiding due to fear of the impact it may have on your personal relationship or weaken your position going forward?
Not all partnerships are meant to last. So what do you do if one of the partners wants out? What happens with the day-to-day operations of the business? It may not be the right time to sell the business? Can your partner buy you out? Should you buy your partner out? Should we just close the doors?
What do you really want out of life and your business? Does it match up with what your business partner wants? If you don’t take your respective temperatures once in a while, chances are pretty high you’re going to wind up on different pages…maybe even different books!
Whether you’re experiencing some of these or other challenges working with your business partner, it’s often best to get help from someone outside your business. If your personal relationship wasn’t going well, you’d likely reach out to some type of therapist or counselor for help. At MVP we’re the “therapist” who focuses on your business relationship. Chances are whatever you’re going through we’ve either personally been there ourselves or coached our clients through similar situations.
Case Studies / Testimonials
Phil Billick
Air Compliance Testing
“A lot of give and take in partnerships, like a marriage…it was me more so than him as he was just along for the ride. So I looked to start another business.”
Michael Uetz, and Danette Amstein
Midan Marketing
“You know it’s interesting we selected the two of you as coaches as we are complete opposites just like you.”
“One of the basic reasons we are sitting here today is because of Jack and Adam. You did an incredible job of coming in and really helping us understand what it means to run a business. We had no clue. We didn’t know how to structure a business. We didn’t know how to put together all the financials and what to look for and be aware of. We kind of jumped in feet first and had to back-track to get ourselves organized.”