Business Planning: Are You and Your Business Partner Aligned?

As you well know, I’m a big proponent of business planning. At the end of every year, I’m out in the industryenthusiasticallyencouraging MSPs to develop their business plans sooner than later. While the business planning process is fairly straightforward if you’re the sole owner of your business (especially if you’re a Trumethods member who’s been listening to what I’ve had to say about the topic over the years),the business planningprocess gets a little bit more complex when you‘reonly one of two owners.

Now, I’m not suggesting that you own a business alone. In fact, there are many benefits to having a business partner, including potential tax advantages, additional business opportunities and complementary skillsAlso, you can divide roles and responsibilities. 

But there are going to be times when you disagree with your business partner on number of issues. What’s important is you work out your differences respectfully, professionally andin a timely manner.If you and your business partner can’t reconcile your differencesyour business (and your customers) will certainly suffer in the long run.

Big issues can arise later when you and your business partner fail to align on how to operate your business. I’ve seen plenty of businesses succumb to this unfortunate defect. There absolutely must be alignment between you and your business partner around the expectations for your business.

When developing your business planuse the time together with your business partner to deal withany disagreementsbetween the both of you immediately. Also, get specific with where there’s conflict. Pinpoint the issues instead of trying to avoid them. It’s absolutely critical for you and your business partner to be aligned on your company’s goals, mission and visions

Use the business planning process to ensure that you and your business partner are aligned on the way forward for your businessEach of you should begin by outlining personal and professional goals. Figure out why the both of you are in business. Then, come together on your company’s goals and vision. Remember: You can’t have conflicting values.

Even if you have disagreements with your business partner, you can develop a business plan. You just need to work through them first. Use the business planning process to overcome any obstacles and move your business forward.

New call-to-action

TOPICS: msp business planMSP business planningMSP success
« Previous Post Back to Blog Next Post »