We have talked about finding alignment and purpose in your business in earlier blogs http://wp.me/p81FNm-1zL.Finding alignment can be one of the biggest challenges in business. You are constantly looking for ways that you can partner with others and do the things that you are great at, the things you love, and let them do the same. Find out about any misalignment sooner than later. Get everything going in the right direction and have everybody working together like the internal gears of a well-designed clock. The truth is, alignment is very hard to achieve, and it takes a lot of pieces to make sure that you have alignment. You have to get people working together in different ways and cooperating, working toward the same goal, at the same time.
Nip misalignment in the bud. At the beginning of partnerships, just like the beginning of romantic relationships, people are often excited, but they are not looking for the potential looming problems. They are not paying attention to what might happen. Unfortunately, in business partnerships, whether it is an economic deal together, or a joint venture, or a co-owned business, not being aligned can be destructive. It can cause the business to fall apart. It can cause disputes. It could destroy years of effort with little or no payment.
We want to find alignment when we can, so we are always looking for it. But, if we think we see alignment, particularly if we think we see very good alignment, we need to stop and look for warning indicators of misalignment. We want to make sure that we are doing the right things and not moving too fast.
What might indicate a problem? Maybe your business partner has different values. Maybe they have different end goals than you do. Maybe you have different philosophies. Look to see what else is going on. What is below the surface of the water? How big is that iceberg? Investigate. Question. Discuss. Communicate about you and your business, and make sure that you and your partner are in full agreement about where you are, where you are going, and how it is going to work. The fewer details you leave off the table and the more you discuss, the better.
What has been your experience with this in business? Have you ever been in a business that is misaligned? How did you deal with the situation? What will you do differently in the future? Join us in the comments below and let us know about your experience.
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This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Ed Moon.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.