Business relationships should provide you with the business that you need. Regardless of whether you are using an alliance, a group of leaders or a power team, you need to make sure that you are dealing with a person who is reliable, honest and ethical. There have been many horrific stories with relationships that have become sour because one person did not fit their side of the deal. A few years ago I worked with a person who wanted to create a publishing house. He had money, and I had experience. It was great, but I was blind to the traps. The first thing we did was fifty fifty partnerships. He decided that I could be the president of the company, and he would take the position of vice president. He worked well for several months, until he decided that he didn’t like the way I run my business. Since we had fifty fifty partners, we were at a dead end. I could no longer do what I thought was best for the company, and he could veto everything that we tried to do.
As a result, the company failed, and we both were in the pocket. If we were experienced in this scenario, it would be better to appoint a CEO or president and allow them to have more than fifty percent so that they can effectively lead. The moral standards of both sides were excellent, but we could not work together, which led to a catastrophe both financially and personally. Although I do not believe in burning bridges, if we ever meet again, it will be extremely inconvenient.
Sometimes even the greatest intentions do not bring business. Business relationships need to be taken care of and even pampered from time to time. If it makes sense that the relationship does not work, you need to avoid any disasters, allowing the other person to retreat and move on.
