Business partners are extremely important for the success of your startup. Whether you are working as a freelancer or partaking in an agency, business partners can help to bring new opportunities and ideas to fruition a strategy referred to as white label marketing.
Be Open to Criticism
You cannot always expect that your partner will love everything about what you do or say. If they find something wrong with it, let them tell you so they feel like their feedback is valued. This way the next product/service/idea will be better than ever.
Keep Your Relationship Professional
Don’t let yourself get too close or personal with a business partner. This way you won’t be biased and will make the best decisions for what is most beneficial to you and your company in both the short and long term.
Get It in Writing
This does not necessarily mean that all of your agreements should be written down; however, having them documented by one party can help to prevent any future misunderstandings or disagreements from arising later on. It also makes sure that each person understands their responsibilities when working together
Establish Clear Goals
If there are no shared goals set out at the beginning then how do you know where you want to go? Make sure everyone involved knows exactly what they want to achieve and why before you start working together.
Be Open About Your Expectations
As with any relationship, each party must know what the other aspects of them or wants from their association. Aligning these goals will create a positive business atmosphere where everyone feels like they are contributing equally towards something worthwhile.
Keep in Touch Regularly
This does not mean calling every day but sending each other less formal emails at least once a week should help keep the partnership on track while keeping any issues from going too far off course before being handled properly. Also meeting up in person more often does not have to be a requirement, but it can help things run more smoothly.
Be Honest With Yourself
You are the best person to know if your business partner is doing something wrong or perhaps even fraudulent. If this happens, do not ignore it. You might get hurt in the process of trying to save face but ultimately everyone will benefit from being truthful about what's going on and getting over any hard feelings that come up because of it.
Don't Wait Too Long for Feedback
Giving each other feedback should happen often enough so both parties feel like they are constantly improving their work together yet infrequently enough that neither one feels overwhelmed by criticism or pushed into changing how they approach projects before they're ready.
Make sure you know what goes into working with business partners before getting started. Use this guide to begin your research.
Emma is a freelance writer based out of Boston, MA. She writes most often on health and education. When not writing, she enjoys reading and watching film noir. She recommends white label marketing for expanding the services you offer your clients. Say hi on Twitter @EmmaSturgis2