How to Formulate a Partnership Business

By -


I always had it very difficult to embrace the idea of partnership business. Its not even myself but the majority have the same mentalities.


Business partnership


It took a lot of milestones for one to figure it out on how partnership works as it requires a lot of effort and dedication. Basically , you need a lot of energy to reach the top of a strong partnership. That doesn't happen overnight

Roadmap of a Business


Having said that, it all depends on what type of business partnership you are entering. Working in a strategic manner.  


Meanwhile, there are a lot of ways you can work towards health business partnerships. By entering into a Memorandum of Understanding, MOU is a key point to look into.that is if you are to stay longer in a business.


In this blog, I will show you some directions you are supposed to take for a sustainable business partnership.


Your Partnership idea


Before doing anything you should come up with a partnership business idea which will help you drive through the processes. You need to brainstorm on what kind of business you are going to operate.


Roadmap of a Business

All partners must agree and subscribe to an idea which will help to guide a business.

If you see things in one direction it will help to set up a good vision of the company which will in turn lasts long enough in a competitive space


Figure Out the Roles and Responsibilities of Business Partners


This stage of figuring out the roles and responsibilities within the partnership is a key to everything. If you capitalize on the weakness and strengths of the partners will be a key to a winning partnership. As that will help a continuous of the business as all operations will be handled by those deserving partners




Business Networking

Keep in mind that your idea is nothing if no human resources are capitalized.

Here are some few tips you can use on determining  the roles and responsibilities


Determine roles and responsibilities based on strengths


This may sound as less important in as far as the prosperity of the business is all about but if the determination is made on weaknesses over strengths of a person it will lead into a business failure.



Business Meeting

An assigned person is likely to make wrong decisions. That will hinder the progress of the business hence being knocked out with the competitors.


You should talk it over and determine who is having a better capacity to deliver within a particular position.


Passionate about the work description


The better way to get work done is by having a person who is passionate about that particular description. 



Your team may be smart but if they lack passions towards work it can be a disaster. While you may be thinking of the smartness of a team member you should consider the passions. 

Now, what is your passion? Do you believe in partnership business? 


Partnership works very well for the fact that partners involved have opposing skill sets. Let say one knows well on marketing and another one knows well on Research and development. That combination can bring about more sales as it balances up the gaps based on the skill sets.





. 




 










My Name is Noel Janna from Malawi currently studying at International University of Africa,IUA in Sudan, Khartoum. Am a blogger with passionate youth integration in Entrepreneurship, environment is also my core focus, a patriotic African, my blogs are my own views.

Comments

Harish Patel said…
Hello
We have also a blogger website earntelent.blogspot.com want to post ad on low traffic visit us
August 20, 2021 at 4:39 PM
Witness Malinga said…
Thank you so much for the wonderful info that am very much sure will help in our future business projects. Keep it up
August 21, 2021 at 10:19 PM
Post a Comment

Popular posts from this blog

By -
Image
My Marathon To Being A Youth Activist    Many people fail to understand why it’s a great deal to serve the world in different perspectives. The way we visualize things, that's what we are creating for the next 10 years, if not 20 good years, but the many of us, particularly the youth whom we are in the majority, miss it a billion times to envision our own impactful ideas. It's okay under normal circumstances for several claimed reasons. Did I say claimed ones, YES of course!!! Anyway, I personally believe with so many hopes that there is always a way to that, one way or another. The moment we the youths stop blaming small barriers instead looking at a bigger mirror for proper view map, by that definitely there will be more pathfinders in the youth arenas, be like cleaver builders whom they start with concreted foundations and not the roofs or/and the top by that it will help to prepare you the way to your next ladder steps, yes it’s hard to focus on one or two things but fir...
Read more

How to Start, Launch and Grow a Business in 2021

By -
Image
Starting a business is becoming much less effort than a few years back where the environment was so demanding and not that conducive as it is today. These days’ people use technologies to operationalize their ideas. I think that’s a good stand for startups companies. Yes, the majority of people are trying to start their own businesses at the moment, which gives the ground a lot of competition but that shouldn’t make you start your own. Most people don’t have a clue on what to start, launch and most importantly scale the business. I can’t lie, it's really hard to scale the business. Lots of businesses don’t make it during their first years of operations. Here are a few ideas on how you can stay in business. It’s possible to sustain the business of course with so much to work out as you go by. If you are passionate about the business you want to create there is an 80% rate of survival of course it takes hell tactics to outstand in a competitive environment. 1.    Get yourself cl...
Read more
By -
Image
SAVE YOUR ENERGY I doubt if we place ourselves in a category as life saving bulbs to our beautiful planet earth unless you tell me you are from planet mars. Most people seem to have only 1 or 2 options if at all NO any tangible options at hand out of all those trillion numbers. Are we being serious?  I think not, how come out of all those numbers no single number makes sense to you as an option, not even Alphabet letters, how cruel restricting our super minds to miss our charged thinking! Isn’t it pathetic?  Let’s gear up to save our energies to the light options with practical approaches. We all have been in a situation where second and first options seem mind draining with no direction to correct or/and make things right. But one thing for sure is that there is always a way if you wish, the thing is to draw your end line and imagine you are digging your own grave of which you will also bury yourself alive fresh, can you continue digging? I doubt there is no way to keep digg...
Read more