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Show Client Appreciation ALL Year Long

Show You Appreciate Your Clients and Employees ALL Season Long
 
Earlier today during my weekly radio program “Chazin The Dream” with Rick Brutti on the UR Business Network, I lamented that most entrepreneurs, start-ups, and business owners fail to understand and value the importance of showing they appreciate their customers and employees.  I talked about the many lost opportunities in building lasting relationships by waiting until the END of the year to say “Thank You” using a cold and impersonal e-greeting card.
 
Then lo and behold, just now I received a knock on our door.  My dog Molly jumped up from her day-long deep slumber to bark at the door.  Who was it that dared to interrupt her 23 hour nap?  Our  dog walker Giovanni came out in the rain to hand-deliver my baby a Christmas gift, as a sign of his appreciation for our business this year.   Molly was so happy, she proceeded to run around playing with it for hours and tore it apart as a sign of her personal brand of client appreciation.
 
You can BET Giovanni is going to get our business next year.
 
 
Which goes to show how powerful an impact your efforts at demonstrating your client (employee, vendor, partner, supplier)  appreciation can have on positive feelings about you and your business.  This relationship-building through appreciation can have a major positive impact on how people engage and support you, especially in times like we face today with significant competition on all fronts.
 
 
There really are NO excuses for showing those that are most important to the success of your business how much you appreciate them.  There are so many simple, inexpensive ways that you can show your client appreciation, employee appreciation, and thanks for support from your many stakeholders, the only limitation is your desire to treat people this way and your own creativity.   Therefore, the question is:
 
How come so few people invest the time and effort the ENTIRE year showing other show much they appreciate their support and business?
 
There are sooo many opportunities to thank your customers for their business, not just when they buy from you (though that’s a great start!) The past five years have been extremely challenging to all businesses. How often do you call or visit your top customers to take them out for breakfast or lunch to learn more about their challenges and assure them that you are there for them?
 
How often do you allow your best customers to waive their past due accounts, set payment on their terms, or give them an allowance to push payments out or consider their accounts paid in full when they experience financial hardships.
 
Do you wish them happy birthdays or congratulate them on promotions, anniversaries or other key events?  What do you do all year long to assure your best customers that you are an invaluable partner and will help them achieve their short and long-term goals to succeed?
 
Do you ever ask your best customers if you can ride along with them on THEIR sales calls, to learn first hand the challenges they  face servicing their customers?
 
The same standards and guidelines should apply to your efforts at employee appreciation as a key differentiation in your business relative to the competition.   How you treat your people has a direct impact on their productivity, the loyalty they feel for you and the degree of engagement they have in seeing to it that your business will succeed…or fail!
 
News flash…employees ARE not assets, they aren’t photocopiers with limbs to be “managed.”
 
How often do you show your appreciation to your people? no, a paycheck is not a sign of thanks. For many of your people in fact they see your compensation as forced servitude.  It takes so little to unleash your people’s untapped talents and leverage their background and experience for long-term competitive advantage. Yet so many business owners fail miserably.
 
Start by soliciting their feedback on ideas for products, services and ways to improve your business. Empower them to serve your clients in ways that create constant compelling moments of “Wow!” customer care greatness.  Allow them to work on their own schedules, set their own goals, give YOU reviews, bring their children to work, take their own days off. Appreciate them, reward, recognize and challenge them.  Give them the resources they need to succeed, then get out of their way to let them shine.
 
Your people want to be engaged.  By working for you they have already made the ultimate commitment to your business. Compensation is pretty far down on the list of things employees are seeking from their employee. They want to be treated with respect and civility, appreciated, listened to, rewarded, empowered, and trusted.  How do you do this all year long?
 
The holidays and end of year are a great speed bump “TIME OUT” to revisit how you treat all the people around you and especially your client appreciation, from your family and friends to your clients, employees, vendors, partners, service providers.
 
At the end of the day all we have to go on for continued marketplace success in this cold and impersonal 21st Century global online competitive landscape is  our reputational brand.   The BEST way to develop and nurture a lasting brand is by building and maintaining meaningful relationships based on mutual trust and appreciation.
 
Sending a holiday e-card at the end of the year just isn’t enough to show your client appreciation.  Begin working NOW to make 2014 the year you truly take advantage of the strong and lasting relationships you need to establish.
 
Here’s to your success maintaining those valued strategic business relationships in 2014!
 
  Ethan Chazin, The Compassionate Executive Coach, Management Consultant, Business Coach
> Plan > Launch  > Grow Your Business.

Business Networking in the Era of Entrepreneurship

 
The Power of Business Networking in the Era of the Entrepreneur
In today’s entrepreneurial society where more and more Americans are pursuing the path to business start-up, it is becoming critically important to be able to build strong relationships and community through business networking.
 
The internet, social media, and advances in technology all combine to give us the power and ability to meet/connect with people instantly all over the world, but the power of bringing folks together to connect with them face to face is taking on a new importance as more and more people feel more “disconnected” than ever. Following are strategies that you and should employ as you begin to develop your 2014 strategic networking plan.
 
MEET FACE TO FACE…ONLINE
 
Distance-based meetings, workflow tools and networking systems make it extremely easy to “meet” with people from all over the world.  There are a wealth of free, low-cost and high-end conference call and video-conferencing services to choose from including Skype, WebEx, GotoMeeting, Intercall, Join.Me Pro etc.
 
SURVEY…SURVEY…SURVEY
 
It is easier than ever to gain feedback, survey customers, seek feedback on new products and services using social media to ask questions.  Survey tools like Survey Monkey, Survey Gizmo, Cvent, etc. make it easy to gather feedback, test market receptiveness to your MPV (Minimum Product Value/offering, or the least finalized product concept you need to show people BEFORE you invest effort, time and resources in producing actual products.
 
Check out this great article on online survey tools.
 
You can ask questions with the folks you are connected with online using LinkedIn, Twitter, Facebook, or…post surveys on sites like Reddit, start discussions in user forums and chat rooms, or get feedback on organizations from present/past employers on Glass Door.
 
MEET IN-PERSON AND WORK THE CROWD
 
As networking groups proliferate, thanks in large part to networking platforms like MeetUp, Hapening, Bizzabo, and ShockLogic as online and face-to-face meeting facilitation tools, there can be a backlash against participating in networking events as a whole.   Call it the “TOO MUCH MEETUP SYNDROME.”
 
How to conduct effective business networking…
 
THE ART OF MAKING FIRST IMPRESSIONS
 
Find organizations such as trade associations that connect members who are your ideal customer or the people you want to meet with to help you grow your business.  The list of targets to identify include influential members o the media (and top bloggers in your fields) vendors, suppliers, potential partners, investors, and of course best client prospects.  Join those associations, Business Forums/Roundtables, or community business groups that have members you want to reach.  Seek out a manageable number of MeetUp Groups (ideally no more than 6-10) in your area and really engage.  Invite fellow members of the Group to connect with you through LinkedIn BEFORE you meet them at events you register to attend.
 
It is important to do research on the folks in your groups that you feel you can work with so when you meet them for the first time you can make a great first impression by talking to them about their background, ask probing questions to get into the heart of their background experience, and passions, and what they are working on.  Discuss the challenges they face and their long-term career and business goals. THAT is how to make an extremely powerful and lasting FIRST impression.  Remember it is so true that you only get ONE chance to impress people the first time you meet (up) with them.
 
When you work a networking event consider the 5-2-1 RULE. In the first 5 seconds you have to have prepared a meaningful and engaging description of what you do.
 
Example: “Hi.  I am Ethan Chazin, the compassionate coach. I help people realize their life dreams of finding their ideal job or launching a successful business.
 
This “introduction” to what you do should get them to think/say: “WOW! Tell me more. “  Then you spend a few (TWO) minutes explaining then you move on to talk about them. After about 20 minutes of engaging the goal of both people feel a connection is to schedule a follow up meeting (ONE HOUR) after the event.  Thus … 5-2-1.
 
Immediately after the event, make an impression by sending a person note through LinkedIn or email explaining why you enjoyed chatting with them. If appropriate, explain how it might be beneficial to work together and offer a FEW days and times to meet (ideally as soon after the event as possible so your conversation from the networking event is fresh in each of your minds.
 
FOR SUCCESS DEVELOP A STRATEGY
 
The people that succeed in networking have a strategy for meeting the RIGHT type of people.  I have developed a Strategic Networking Plan that I use with the entrepreneurs, start-ups, business owners and professionals that I provide business management consulting to.  Four tips for developing your own strategic networking plan in 2014 include:
* Provide a comprehensive description of your IDEAL potential client;
* List all of the relevant Industries that your ideal customer belongs to and the key Industry Associations that serve these industries;
* List all of the business networking groups or trade associations that you belong to; and

* List all of the strategies do you currently pursue to find prospects, then qualify those leads in order to pursue in your new client acquisition efforts.
 
IT’S ALL ABOUT TRULY CONNECTING
 
Most of all, remember that networking is a very cold and impersonal term born out of computers connecting. Building relationships is all about connecting and then building ongoing relationships of helping people, sharing information, reaching out to them, offering assistance, sharing interesting articles, connecting them to people they can benefit from meeting.
 
Most of all…have FUN!  Always strive to give.  People will gravitate to you when your first thought is helping…NOT SELLING.
 
Here’s to your success with strategic business networking in 2014!
 
  Ethan Chazin, The Compassionate Executive Coach, Management Consultant, Business Coach
> Plan > Launch  > Grow Your Business.

Business Owner Holiday Cheer and Goodwill

Spread Holiday Cheer and Goodwill Starting TODAY.
 
Now that we have settled in from Thanksgiving, are in the midst of Chanukah and approaching the Christmas holiday, I would like to share some thoughts about how I teach my clients to spread much needed business owner holiday cheer and goodwill this time of year.
 
SPEND TIME, MONEY AND EFFORT PAMPERING YOURSELF.
 
Planning, launching, and growing your business is a never-ending grind.  We spend so much time focused on serving others, from our clients to employees, to vendors and suppliers that we often think of ourselves last.
 
This can have the effect of wearing ourselves down to the point where we crush our spirit, stop focusing on how to grow our business, and lose sight  of what we want to ultimately create to make the world a better place through our offerings.
 
Now is the perfect time to start focusing on ourselves.  Spend a little time every day to set aside some quality YOU time.  Spoil yourself. Buy yourself special gifts every so often, just because.
 
Take time out to completely unplug from the multitude of tasks required to run your business so you can recharge your batteries as you rekindle your passion and excitement for being on your own.
 
Get a manicure/pedicure, treat yourself to a massage. Go to the movies in the middle of the day. also, be sure to spend some much needed time thinking about creative solutions to grow your business.   The act of setting aside quiet alone time  to think in free-form mode is called visualization.
 
We ALL need quality time to ourselves, so why not make this Holiday Season the start of your practice of treating yourself to time alone, so you can experience the  much needed feel-good moments to rekindle your passions and your sense of personal mission for what you hope to accomplish in 2014 and the years ahead.
 
SPOIL YOUR EMPLOYEES ROTTEN, BECAUSE THEY DESERVE IT!
 
For you business owners that have employees, this holiday season spend considerable thought, time, and effort revisiting just HOW VALUABLE your people are.
 
They are NOT assets to be controlled, managed, reduced, outsourced, contracted, and taken advantage of the way so many employers treat them.
 
Your employees are people that have made commitments to your business.  They serve your customers.  They promote your business, sell your products and services.
 
So, use THIS holiday Season to make it your mission to rekindle your employees’ passion for committing to your business.
 
Build excitement!  Offer holiday parties with themes, just be sure to skip the alcohol.  As a matter of sensitivity, try not to be short-sighted and force Judeo-Christian themes on them.  Some employees that have grown up in other cultures and religions might get offended.  Rather, ask for volunteers to form a Team that plans a holiday party to be as inclusive as possible and have a real sense of purpose to foster greater morale.
 
Be sensitive, thoughtful, and CREATIVE.  Why not set up a team that decides what community activities and volunteer organizations your business can support?
 
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Have them build a program that you agreed to fund. Set aside a budget just for this program.  Launch the program this holiday season and commit to that social responsibility campaign for the ENTIRE year, from now through next year’s holiday season.
 
Don’t be a Scrooge!  Open those purse strings.  Give out holiday bonuses as rewards for their significant efforts all year long.  Rather than stock piling cash, be generous and give raises.  ‘Tis the season to award your people with promotions!
 
As we approach the end of the year it is the perfect time to create employee reviews with performance plans.
 
Start implementing 360-degree employee reviews. What!?  You don’t have formal reviews?  Well, now is THE PERFECT TIME to create them.
 
Have your employees review YOU and your MANAGEMENT TEAM.  Tie employee bonuses to serving your clients, and taking calculated risks to grow your business.  Reward them financially for coming up with creative solutions (even if those ideas are not implemented!)
 
Give them time off to be with family, allow them to set their own work schedules, let them bring their children to the office.  The only limit to how much holiday cheer and employee good will you can create is your own creativity.  But you MUST begin thinking what it takes to excite, encourage, reward and keep your people happy.   A happy workforce is an engaged workforce and engagement leads to profitability through higher employee productivity.
 
YOUR CUSTOMERS NEED HOLIDAY CHEER, TOO.
 
What have you been doing all your to thank you customers for keeping your business in business?  A holiday card or email just doesn’t cut it anymore.  Give them what they want and deserve.
 
Let them dictate the terms of how they engage with you.  Solicit their input by surveying them.  Ask them what your business is doing that they enjoy, what could you do better.  Make them the valued partners they already are.
 
Have them customize the offers you make to them.  Rewards them with meaningful gifts that matter to them….do NOT come up with some uncreative GIFT CARD or POINTS program that they don’t want and will NEVER use.
 
Let them determine your return policy.  Have them  tell you what promotional campaigns they would find valuable.
 
There is so much to be thankful for, even despite these challenging times.  By nourishing yourself and rekindling the excitement you felt when you first decided to launch your own business you can create enough good will and cheer to fuel continued success in 2014…and beyond.   Start with your employees and customers and build from there.
 
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Happy Holidays from The Chazin Group!
 
Ethan Chazin, The Compassionate Executive Coach and Business Consultant.  Helping you unleash your full potential and plan, launch, and grow a wildly successful business.

The Arrogance of "Know-it-all" Business Owners

 
Who Think They Know it ALL, Proves They Often DON’T (Know It All!)
 
Today’s post comes to you from a place of great personal PAIN for me.  I will share with you my lifelong love of my favorite NFL team and the business owner who thinks he knows it all…and proves he DOESN’T on a nearly daily basis.
 
But before I get to that, let me start by saying as a business coach and strategy consultant, I see the harmful impact that a business owner, leader or management team  who thinks she/he knows everything can have on their organization’s performance.  WE ALL HAVE BLIND SPOTS.  There are things we simply don ‘t (can’t) know, and are NOT an expert in.
 
For 20 years working in Corporate America and now in my work with business owners, entrepreneurs, and start-ups I have witnessed first-hand how business owners who refuse to admit they can benefit from the help of peers, co-workers, direct reports, suppliers, vendors, contractors AND THEIR OWN CUSTOMERS damage their organizations.
 
Which takes me to my Team…America’s Team…YES, the DALLAS COWBOYS!
 
I realize that just mentioning my life-long love for my team might alienate a LOT of people.  But I take you to the world of Jerry Jones, in an effort to prove to you how bad things happen to organizations led by people who refuse to admit they don’t know everything and could benefit from the expertise of others.
 
Jerry first made his millions in natural gas and oil.  He’s gotten rich on SPECULATION.  He bought my team in 1989 for $150 million and appointed himself the General Manager.  What qualifications did he possess?  Well, he DID play college football at Arkansas in the 1960s so I guess that could lead him to think of himself as a “Football Man.”
 
He initiated his team ownership by in effect firing a revered coach (Tom Landry) and in his place hired unproven college coach Jimmy Johnson thinking he would be able to control Jimmy.  He then placed his son Stephen (now VP of Operations) in a significant role DESPITE his son having ZERO qualifications proving nepotism beats on the job experience.
 
Long story short, the team traded their aging star Herschell Walker to  the Vikings who turned over to the Cowboys a large number of draft picks in the hope that Herschell Walker was the final piece their team needed to get to the Super Bowl (he wasn’t and they didn’t!)   Jimmy then used his college football coaching connections in Florida (he coached at the University of  Miami) to use those Viking draft picks to rebuild the team’s roster with future stars like Emmitt Smith and Michael Irvin.  The team  experienced immediate success by winning 3 of 4 Super Bowls from 1992-1995.  Jerry’s ego which was fueled by such rapid success led Jimmy to leave.  All that early success as owner and General Manager led Jerry to think he knew everything about NFL football success.
 
It was the delusion of his exceptional narcissism that led him to believe falsely that he had an understanding of what it took to achieve greatness.  He has refused to admit he was the beneficiary of many unprecedented events (a perfect storm.)  In the process he alienated Jimmy Johnson who eventually left Dallas.  Since Jimmy’s departure the team has suffered through a steady turn-over in head coaches, coaching staffs, and players that have collectively gotten the team (MY TEAM) a total of ONE playoff victory in SEVENTEEN YEARS.
 
Sure Jerry Jones has grown the team’s worth to $3 billion over the past two plus decades.   This just goes to prove that he is the consummate snake oil salesman…NOT an NFL General Manager.
 
To THIS day Jerry Jones refuses to admit that he and the team would benefit from him giving up his General Manager responsibilities.
 
The lessons learned to any business owner who wants their organization to succeed could not be any clearer.  None of us know everything.  Those who are mature enough to seek advice and counsel from others who have expertise often benefit from the additional insights provided.  By giving up control and tapping into others’ collective skills, well-adjusted leaders can spend time focusing on developing a long-term vision that they need, to grow their business.
 
In order to succeed, it takes great personal, professional and business maturity.  You have to willingly and actively seek others’ help in the areas you don’t possess expertise in, whether you are the head of a multinational corporation, a not-for-profit organization, a Government, or…an NFL team.
 
This is why I urge my clients to seek out coaches and mentors, and ask lots of questions as they are planning their business. Talk to other entrepreneurs and start-ups especially people in your own industry.  Talk to vendors, suppliers, contractors, potential customers and people who work in the industry.  Learn as much as you can.  And once you launch your business, KEEP SEEKING COUNSEL from the people that have the desire and expertise needed to help you.  Another good idea is to take a skills inventory or personal assessment, to determine areas that you are strong in as well as the areas that you might benefit from enlisting the help of others.
 
You can get my Entrepreneur Self-Assessment from my website.
 
Ethan Chazin, The Compassionate Executive Coach and Business Consultant.
 
Helping you unleash your full potential and plan, launch, and grow a wildly successful business.
 
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Creating a Great Organizational Culture

 
The Power of a Great Organizational Culture
 
In my work as a business consultant I invest a tremendous amount of time and effort providing executive coaching to entrepreneurs, start-ups, and business owners.
 
It is often a challenge explaining how critically important it is to establish a winning organizational culture for lasting competitive advantage.
 
WHY?
 
The concept of “culture” can seem nebulous, poorly defined, and difficult to quantify from an ROI perspective.
 
However, culture and the many benefits that organizations receive from creating and maintaining a great culture or competitive advantage in the markets they compete in make it an invaluable asset for those that know how to create one.
 
Organizations like Microsoft, Apple, Google, LinkedIn all gain tremendous benefit from creating a great organizational culture and winning workplace.
 
Well, what then is “CULTURE?”  Simply stated, culture ids the PERSONALITY of the company.
 
By becoming known as a great place to work, your company can and will gain many benefits in terms of access to the best employee talent.  Not only will the best and brightest employees flock to your front door for a chance to join your workforce, but the brightest stars in your organization will stay with you through the good times and bad.
 
When you build a winning culture vendors, suppliers, and business partners all will be eager to work with you and your brand (“buzz”) the reputation will make you the organization that your customers will all want to buy from again and again and again.  Having a world-class culture gives you built in economies of scale, increases your efficiencies, and delivers lasting competitive all from the act of creating a world-class organization with a winning culture.
 
SO…HOW DO YOU BUILD A GREAT ORGANIZATIONAL CULTURE?
 
Ask yourself what makes certain companies like Tom’s Shoes, Disney, Marvel, Starbucks, Marriott, Virgin Airlines, Southwest Airlines, etc. GREAT places to work!
 
The answer is, they ALL build everything they do with their employees best interests at the heart of everything they do, and their customers are a close second.
 
Here are some best practices that you can implement immediately to build a great culture:
 
You, your founders/business partners MUST define your own values and beliefs.  This is especially critical for entrepreneurs and start-ups just starting out with their new business.
 
Spend time discussing what you want your legacy to be.  What do you want to leave behind when all is said and done as a lasting contribution to the greater good.
 
Assign someone whose primary (ideally ONLY) responsibility is to maintain your world-class culture.  They must be empowered to do everything necessary to keep your culture as a world-class competitive advantage.  Create a culture initiative, or list of all the strategic actions required to build and maintain that culture.  Set aside budget to fund the creation and maintenance of culture.
 
Define, articulate a compelling VISION and MISSION statement.   Here are working definitions of BOTH provided by Bruce D. Johnson so you can better understand (and articulate) the differences between them:
 
VISION STATEMENT
 
 Your Vision statement explains what you want to be/become.
 
It’s entirely aspirational.  Your vision should inspire the hearts of people who work for you and engage with you.
 
Ex. Norfolk Southern logistics company: “Be the safest, most customer-focused and most successful transportation company in the world.”
 
MISSION STATEMENT
 
Define what your organization does and does not do, and who you do it for.
 
Ex. U.S. Tennis Association: “Promote and develop the growth of tennis.”
 
Mission statements drive everything your organization does.  They should be simple, direct, and operative.
 
List all of the qualities that you want your ideal employees to have.  Define the types of people that you want to work with (and don’t) in terms of suppliers, contractors, vendors, and service providers.
 
Once you define your organizational culture, you MUST communicate it by stating your organizational values everywhere, from your job descriptions, to your website, employee orientation handbook, as well as your social media, press releases, and website.
 
Treat your employees like your MOST valuable resources.
 
Why?
 
YOUR EMPLOYEES ARE YOUR SINGLE MOST VALUABLE RESOURCE AND SECRET WEAPON FOR GAINING AND MAINTAINING COMPETITIVE ADVANTAGE.
 
It is critical that you develop the programs needed to reward, recognize, empower, challenge, train, coach, mentor, and compensate your employees.
 
A company MUST care about the culture and work very hard to build it and maintain it.    The good news is, if you care enough about your culture  you WILL have a GREAT place to work!
 
Leadership sets the tone.  your leadership team must embody the spirit of your culture and convey the company’s culture to all they interact with, inside and outside of the organization.
 
Need help in gaining a clearer understanding of the importance of CULTURE?
 
Check out this video in which Tony Hsieh of Zappos explains what makes a business a truly great place to work.
 
Ethan Chazin, The Compassionate Executive Coach and Business Consultant.
 
Helping you unleash your full potential and plan, launch, and grow a wildly successful business.
 
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How to Choose a Business Partner

How to Choose The Right Business Partner For You

 
There are two approaches that you can take when deciding whether or not someone would make an ideal business partner for you to join forces with.
 
Unfortunately, while both strategies are required I find that many entrepreneurs, start-ups, and business people almost always fail to factor in BOTH considerations.
 
#1 Find the ideal match to compliment your skills.
 
The first approach you must take is to determine which skills you are best at (ex. sales, marketing , operations, etc.) then find a short list of folks whose own skills compliment yours by having strengths in those areas you lack the needed background, experience, and skills in.
 
For example, if you are socially oriented (extroverted) and you love  to interact with others but you hate doing detail-oriented work (such as data analysis and conducting research), then those are the exact skills that you want to be looking for in your ideal business partner(s.)  Many people fail at this because they naturally seek out potential partners that they “get along” with. Most often this means they connect with folks who share their background and experience.
 
The cold hard truth is, no one has experience in every facet of running a business.  Therefore,  you and your partner(s) should collectively have experience in all of the following functional areas that are required to plan, launch, and grow a successful business because you need to have a well-defined division of labor by splitting up the duties required.
 
– Sales
 
– Marketing (Advertising, PR, Sales Promotions)
 
– Communications
 
– Customer Care
 
– Product Development
 
– Financials
 
– Operations
 
– Market Research
 
– Human Resources/People management
 
#2: Find others whose values, beliefs, and work ethic matches your own.
 
You want (need) to be able to work with people that share your passions, interests, morals, values, and beliefs as well as your entrepreneurial “spirit.”   Some strategies that you can and should utilize in order to determine who might be an ideal “fit” for you as a business partner include:
 
– The both of you should write your own profiles and share those them with each other.
 
– You and any potential partners should develop a list of all the things you each want to accomplish professionally.  This list must include all of the reasons why you want to go out on your own and start a business.
 
– You also should develop a complete list of all the resources you each bring to the table.  These resources must include:  financial contributions you both can make, skills, your background, professional training, certifications, organization memberships and affiliations, work experience, personal and professional networks of key contacts, any clients you maintained from your previous jobs.
 
This comprehensive list of assets will be of critical importance as you determine which potential partners and you share the deepest, broadest collection of assets to be leveraged for the good of your business.
 
Ask those people closest to you who you trust the most for personal referrals of people whose skills compliment yours and whose values and beliefs most closely align with yours.
 
Both of you should write down what you want your (business) legacy to be when all is said and done.  Any person you consider partnering in should know what it is that you hope to leave behind/contribute to the greater good (society) as a result of planning and launching your own business.
 
You and your partners should therefore have skills that compliment one another.  Your strengths should match their weaknesses, and vise versa.   Your values and beliefs have to be in perfect harmony with each other, in order for you to be able to get through all of the initial emotional hurdles we all face in planning, launching, and growing a business.
 
Lastly, get your commitments down in writing.  Have a business attorney develop a formal partnership agreement that stipulates all of the following:
 
How much capital you will contribute. your credit rating, work experiences, and capital you can allocate.  Do you both have people willing to co-sign?  Do you both have a small inner circle of business advisers.   Ideally you should both have  completed a formal personality assessment tool such as Myers-Briggs, Birkman, DISC, etc. and share the findings from those assessments so you have the best possible appreciation for, and understanding of, your partners’ values, beliefs, background, experiences, hopes, and skills.
 
Some other criteria you can apply in your search for the ideal business partner:
 
– You should genuinely like each other and get along.
 
– You should have the same vision and mission
 
– You should be physically located in the same place.
 
– You should be able to pick each other up when you are both feeling down.
 
These are just a few guidelines.  Here are some additional resources for you to use in determining how to conduct an effective business partner search.
 
  * How to find the perfect business partner on Entrepreneur.com
 
  * How to find the right business partner on WikiHow
 
  * How do I find a business partner on Inc.
 
Ethan Chazin, The Compassionate Business Coach. Helping you to plan, launch, and grow your business.
 
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