Comments on: 7 Advantages to Coaches To Be In A Business Partnership

By: Eileen Laskar

Eileen Laskar — Tue, 12 Jan 2010 17:57:31 +0000

I like the good insights on business partnerships for coaching business. Being a sole proprietor can be overwhelming and an idea of a complementary partner is lovely. However, the partnership should be purposeful and planned. One ought to have selected the niche market, defined the vision and mission of their business, developed their coaching system and defined what success means for them. Once this is done, it would be easier to make a decision on the kind of partnership to pursue and when is the right time to do so.The partner therefore comes on board to share into your vision and fast track progress towards attaining the set business goals. It would be good that partners clearly define what is in the relationship for them so that they remain motivated and focused.

By: Brandon R Allen

Brandon R Allen — Fri, 08 Jan 2010 23:21:43 +0000

I have had successful relationships in coaching by adhering to 2 specific rules.
1. Clearly define roles and the conditions of satisfaction in the relationship. Don’t violate this for any reason.
2. Pick partners that add value to the firm because they are strong where you are weak. Too many times we pick partners that are the same as us and it creates disastrous results.

I think it can work if you handle it properly.

By: Merlyn Sanchez

Merlyn Sanchez — Fri, 08 Jan 2010 17:48:39 +0000

I agree with Hannah’s comment. Too many times we seek to find partners just like us and miss the mark. We need to partner with people who have complementary skills and strengths.

However, although you don’t want to find someone “just like you”, it helps if you have similar communication styles in order to stay on the same page.

Thank you for this article Milana. It is very helpful as coaches start thinking outside the solopreneur box and create new business models.

By: Dorene Lehavi

Dorene Lehavi — Fri, 08 Jan 2010 16:52:02 +0000

Thank you all for your comments about my article. Everyone of you has hit on some of the exact points needed to address if the partnership relationship is to succeed. Many more articles written and to write.
Re: the idea that partners might be too much alike can be turned around to work as well, by agreeing to divide what they love to do and delegate or hire others to do what they don’t.
You are right that being specific about who will be responsible for doing what is key. So many call me for coaching at the point where they are feeling that they are doing it all or at least a lot more than their partner. And often both partners think that. There are lots of ways to turn the pitfalls into great strengths and enjoy the benefits of having a partner.

By: Hannah McNamara

Hannah McNamara — Fri, 08 Jan 2010 07:51:57 +0000

I love this article! I’ve been working with my business partner for the last few years and it’s made such a difference. We’re able to support and challenge each other in equal measure – it’s like having a full-time coach watching over your shoulder.

The main reason I think our working relationship works is because we’re very different people but with a shared vision. Our skills and experiences complement each other – where one of us is weaker the other is strong and vice versa.

I see partnerships fail where people seek out someone who’s like them. They encounter problems when they both focus on the same strengths but both hate and avoid the same things!

If you hate accounting and detail but love spending time meeting new people, seek out a partner who thrives on detail but doesn’t enjoy networking.

It’s important to review your plans and talk honestly regularly. We literally talk every day about where the business is heading and what we’re each going to do to make it happen.

By: sandra , israel

sandra , israel — Fri, 08 Jan 2010 05:48:42 +0000

As a Mediator and Relationshio Coach I come across many great partnerships that go wrong just because there was no ongoing conversation and problem solving technics, to what reality brings into life.
A good agreement, a respectfull way out and ongoing sharing of feelings will give the partnership the best ground to grow .
Thank you for the reminder.
Sandra

By: Andrea Feinberg

Andrea Feinberg — Fri, 08 Jan 2010 05:20:09 +0000

While I’m a believer that strategic alliances and partnerships can be invaluable, it’s important to recognize the many pitfalls, most of which can be minimized with crystal clear communications and written agreements. Often partners come together for either a brief period or for a specific project or at some intersection in their respective businesses. If they maintain other enterprises as well as the shared one, it’s important to agree on how they’ll each invest their energy and creativity. Does the shared project get all their attention while it’s building? Does it get a few hours a week? Nothing can kill a potential success faster than the belief that the other person isn’t pulling her weight (while the other person may believe their partner is ignoring their primary business in favor of a temporary hook-up).

It’s important that partners understand their desired outcome from the alliance and ensure their partner has the same goals in mind. And, just as important as agreeing on how they’ll succeed in the shared enterprise is an agreement on how they’ll separate, either simultaneously or allow the other to bow out with a pre-planned process.

By: Laurie

Laurie — Fri, 08 Jan 2010 02:41:04 +0000

Thank you. Dorene and Milana! I’m just beginning my coaching journey and this info is exactly what I needed right now!