Put the ring on the right finger
“A successful partnership starts with choosing the right partner, for the right reasons.”
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Put the ring on the right finger
I had a great chat with a young entrepreneur on our circular economy accelerator this week, who was unsure if she should ‘go it alone’ or use partnerships to grow her promising cosmetics business. It’s such an interesting question and one that we often ask ourselves in different ways as we journey through life. Like the decision to marry someone or stay single, there are pros and cons either way.
Going it alone can be stimulating, liberating and brings with it a sense of very personal achievement. For entrepreneurs this need to claim that “I did it alone” can be a powerful motivator as we long to feel fully liberated and self-empowered. We want to own our own world!
But going it alone can be exhausting and isolating. The burden of everything on our shoulders can weigh us down, and an army of one is limited in its ability to gather wisdom and knowledge.
Collaboration and partnership on the other hand can be hugely stimulating and creative. The joining of two (or more) hearts and minds can deliver a stronger, faster and more effective future. Two sets of energy and enthusiasm, plus complementary skills means more than one plus one, it equals three, four or much more!
But the challenges of partnership include loss of autonomy, the need to discuss, negotiate and settle disagreements. And when things go wrong it can be devastating. My way or the highway doesn’t work here!
In my own personal life and business journeys I have experienced both and found that there are cycles where going it alone is right, and where collaboration and partnership fits best.
There is truth in the well-worn maxim, if you want to go fast, go alone but if you want to go far, go together.
And just like a marriage, if you want a partnership that works, be sure to put the ring on the right person’s finger and get your contracts, expectations roles and responsibilities clear before you walk up the aisle! Partnership contracts, clarity on values, vision and expectations are super critical for business success.
I’d be really keen to hear from you about your own experiences on the ups and downs of partnership, and how you make collaboration work.
