Australian Financial Services Directory  








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Hot Management Tips ...

Building Effective Stable Partnerships ...

Here’s how to build stable partnerships: Experienced business owners recommend the following points:

  • Set aside at least one meeting to discuss the personal ability of each partner to persevere through periods of reduced income.
  • Allow complete equality in company gains.
  • Come to an agreement on all potentially divisive issues. Do this well before facing the situations. Consider discussing: ethics, risk-taking, money-management and any other controversial points.
  • Discus the extent that each party is willing to make sacrifices for the business.
  • Discuss how much of themselves each party is willing to contribute to the good of the business.
  • Agree on how you will dispose of the profits. Do this in the cool and rational light of poverty, rather than in the excitement of success.
  • Get all agreements and decisions in writing. Keep all business dealings transparently honest.