4 ways to always keep your business partners happy

4 ways to always keep your business partners happy

If you're running a successful business, you likely have a partner helping you out with all the tasks that come with how a business operates.  If you don't have a business partner, you probably aren't at the point yet where you're being overwhelmed by your workload, which is a good and bad thing at the same time.   Business partners are great because they can help lift the weight off of your shoulders so you're under less stress.  The less stress you're under, the better you perform your own tasks for the company and you'll likely pull in more sales

A business partner can come in the form of a friend, family member, or complete stranger who happens to have all the skills you need in order to perform all the daily tasks needed.  I have a business partner who is good at programming, and since I'm not good at any sort of programming, I know he fills a void in the business if we ever need a programming task done quickly   You can also have a partner come on board who is solely an investor.  You may think you have everything put together, but you likely lack funding, which an investor can provide.  An investor isn't a type of partner that will help you with the tasks that need to be done, they expect you and your team to do that while they give you money to boost your success.  Of course, the investor will profit off of you and your success, but they wouldn't have given you the money in the first place if they didn't think you could do it

In this discussion I'll be going over 4 ways how you can keep your business partners happy, and those ways are:


Always be on top of your daily tasks
With every business out there, physical or digital, you will have a list of daily tasks to perform.  If you don't have this type of list, you likely won't be in business long or you just don't see your actions as being list worthy lol.  Your list will usually include responding to emails, writing up content for your blog, managing sales, fulfilling orders, talking to distributors, etc.  Anything that you normally do for your business can land on this list, but usually it's the smaller tasks that boost your sales in a short amount of time like calling back someone that tried to contact you earlier.

Having a daily tasks list is just the first step to keeping your business partners happy.  They will see you're staying on top of all the small things, as well as running the business, and they will not annoy you with any little problems they might run into.


Never complain about your competitors
Complaining about your competitors is childish, and your partners probably don't want to hear about any of your competitor problems.  If your partner hears you complaining about your competitors too often, they will think you're doing more research on them than you are for your own company.  No one wants to hear complaints all day long, or even a few times a week, so try not to complain about your competitors to keep your partners happy.

Focus on your own business and how you can boost your sales.  The only time you should focus on your competitors is if they decide to run a smear campaign against you or your company.  You need to put that fire out immediately so it doesn't do much damage to your businesses brand or image. 


Never try to buy them out immediately after they did a bunch of work
If there have been talks of one owner buying out the other, you never want to try and throw money at your partner as soon as they're done doing a ton of work to make the business better.  You will only hurt your business relationship and it will likely cost you more money in the end.  Think about it, if you just worked 60 hours a week, for a month straight, you probably wouldn't be too happy if your partner tried to buy you out. 

If you try to buy out your partner at this stage, they will see it as a sign of pettiness because you're trying to give them less money now because you think all of their work will bring in even more profits.  When you offer them $XX,XXX after they're done doing a massive amount of work, they will think it's worth $XXX,XXX and you basically just cost yourself more money in the end.  Likely the work won't boost your sales into the stratosphere, but it will be a stable foundation to build on to increase your profits gradually.


Always ask how you can help them with something
A partner wants to know you're invested in the company, and by asking them if they need any help with something, you're showing them you want to finish everything there is in order to make more money.  This could be as simple as answering a wave of emails that just came in and it's weighing down your partner, help them out and they will be grateful.  You could also see them struggling with a design feature on your website, just jump in there and help out when they eventually log off.  Your partner will love that you did the work when they were struggling with it and they will likely return the favor when you hit a wall later on



In conclusion
Keeping your business partner happy isn't a difficult thing to do, but it's definitely easy to hurt your relationship all together.  Just keep to yourself when you want to complain and be sure to help out when you can, and most definitely do not offer them a buy out as soon as they finish a monumental task that took a month to do lol.  It's always good to have a business partner working with you, it will lessen your workload and free up your time to be with friends and family, which is always a great thing   So, keep your business partners happy and you will likely see your business thrive from all the work that gets completed


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Thanks!

Razzy