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How to Create a Successful Business Partnership

The key to all success in business partnerships is communication. Without clear and consistent communication, your business will not grow and succeed. You will miss opportunities, miscalculate your partner’s expectations, and potentially move into opposite directions.

It’s a blueprint for failure. Instead, follow the simple path: communicate.That’s it. In over twenty years in business, capitalizing on our strengths in multiple income streams, culminating in Easier Accounting and Real Business Owners, Kale Goodman and I have found communication to be the key to make or break our day-to-day operations and our long-term success. Let’s look at several scenarios in partnerships to see how this plays out.

As you read, picture your own business in these situations, and grab keys to avoid major mistakes and create wins.Maybe you’ve worked together for years, like Kale and I. Or maybe you’ve been friends for a long time before teaming up. Either way, you now take each other for granted.

You are both too busy making the business run. You don’t communicate the same way as you used to. At the beginning, it was easy.

Maybe you are like us in our early days. You spend 90% of the time making deals and having fun, and 10% of the time doing the hard-knuckled decisions. Now, you just don’t have the same time anymore. Or, maybe it’s a step further.

Maybe you trust each other too much. There’s a disconnect because there is so much trust between two people. You may think that whatever he’s doing, it’s going to be good.

You figure you can read your partner’s mind. You stop asking questions and checking in with each other. But, the best intentions don’t guarantee the best results. A partnership should become a camaraderie where two people

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Kale Goodman


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