Diaz and Paltrow Off To A-Rod's Helicopter

Must be nice. Gwyneth and Cameron get to take a helicopter ride in A-Rod’s whip, right after he hit his 600th home run for the NY Yankees last Thursday.  How’s that for a celebration? Tag teaming definitely has it’s benefits.

Are you in a partnership situation? If you are and it’s working out, good for you. It’s hard to find a great, complimentary partner as an entrepreneur.  Sometimes it’s definitely warranted, and we’ve found some great strategies you can use to build a solid partnership.  (Your sidekick does not have to be your BFF by the way.)

Inception – What are your dreams for your company? What do you need to strengthen in your business? What are some entities or what is one entity that you have not yet gotten into that you think would be great for your company? What are you less than perfect at, and could use another expert to make “it” perfect?  Write down all of these different things.  Then, review what you’ve written.  From this document, you should be able to identify what you really want/need in a partner.

Fem. Sell Research – Don’t know WHO you want for this role? Start screening companies like movie stars. Be very specific about what you want, and more importantly, what you need to help compliment your services. Maybe you’re more of the creative type and you need someone who loves the financial element of the business.  Or, maybe you enjoy selling the business/service, and need a partner in crime to handle the administrative operations of your business.  In any case, do your research.  Find someone you what? KNOW, LIKE, and TRUST. We suggest you have a full questionnaire ready.  You don’t have to send it to them to complete, but you should at minimum, cover your most burning questions informally so you have a good idea of what you’re working with.

Project Funway – Have someone in mind? Work an event together and split the profits as you see fit.  This will give you the opportunity to see how your prospect works. How are they under pressure? Do they like high energy situations or are they more low key?  Also, what’s their skill set? Are they more of a hands on or behind the scenes organizer?  What types of things get under their skin? Check it out.

Law and Order - Once a mutual decision is made on doing business together, set it in stone.  Create a legal contract to help set the vibe of the relationship.  Agree on the expectations for how the business will be operated as partners.  What’s your end of the deal and how will it be met?   Make sure the agreement is discussed thoroughly and agreed upon by both parties.  You don’t want to get into something that wasn’t talked about in detail, and then can’t get out of it. Insanity. Just get it right the first time.

Much Success~