These tips can save your business and your sanity.
My biggest mistakes and regrets in life were teaming up with the wrong people and surrounding myself around talkers and not doers for so long.
If your friends aren’t winning and motivated, then you need a new circle FAST.
The first few businesses I started, I lost due to bad partnerships and lousy decision making.
My partners were the “wantrepreneurs.” They had no money and they talked a big game on topics they knew nothing about. I always fell for it since I didn’t have mentors and didn’t read much.
Things to look for when trying to team up with someone after 9 years of learning from my own mistakes.
Pull out your pen and paper and take notes, because this information is priceless and can save you millions.
Strong Track Record– This meaning they have real previous success or experience. They might have worked a job in the field you are needing help on. This could even be where they started or sold a company in the same demographic you are jumping into. By them having a strong track record, you will be able to pivot to the next level a lot quicker and learn through them versus learning through your own guesses and mistakes. I love seasoned business partners who can help lead the way.
They Have To Have Money– Doing business with broke people isn’t the smartest decision, because they are obviously not the most financially inclined partners to have. When money starts pouring in, broke people are more prone to switching up. This meaning, they start changing and most of the time not for the better. People get greedy when they have never seen any real coin prior. I have experienced this first hand and have also seen them get lazy and more content once they started making a certain number. You don’t need to be baby sitting a partner once funds start rolling in. If you have a business partner who is constantly wanting a cut immediately after business has been conducted, RUN. The business needs to be ran on what’s best for the business and not on the lining of your pockets right out the gate.
Team Up With People Who Are Well Connected– You ever hear the old saying “it’s not about what you know, it’s about who you know.” Well, it’s true! If you want to soar to the top, make sure your new partners are well connected. Your network is EVERYTHING in business. My partners now KNOW EVERYONE. This makes it extremely easy to raise money or land new clients based on referrals. I have seen plenty of businesses with great ideas fail strictly on them not having the right connections. This should never be you! Think about the show Shark Tank. Some people come on the show not even needing the money. They are strictly on the show to land a shark specifically for the sharks connections. Don’t forget your network is your net worth.
Emotional Intelligence Or No Deal– Listen, if your business partners are quick to pop off or lose their cool, you are in for a long ride and not a good one. I had a partner one time who used to cry every time she got stressed and could never think clearly under pressure. It was like working with a 2 year old. NEVER team up with hot heads and people willing to throw it all away over respect or pride. These people are stupid. SUCCESS has no feelings or emotions. I keep a pokerface 24/7. People that I can’t stand think we are best friends and I want to keep it that way. Be everyones friend or at least associate. This is a small planet and you don’t want to be black balled in certain areas over small petty relationships. Be cool with everyone.
They NEED To Be Driven– If you have to constantly motivate your partner, you won’t get very far. The motivation needs to be a team effort. My partners motivate and inspire me daily to keep leveling up. My partners will straight up say to my face if I’m being lazy at times. Many nights we stay up talking millions and goals till the sun comes up and the wive’s get pissed for not coming to bed. I could NEVER do business with someone who isn’t driven and wanting the most out of life.
Positive Vibes Only– This might be the most important tip of them all. If your partner isn’t a positive person, run as fast as you can to the hills! Positivity is the biggest key to success. The work place has no room for negative vibes. Poor attitudes can completely wipe out an entire business. Make sure the person you partner up with spreads great energy and stays away from all drama and negative clout. I love working with happy people who are grateful and thankful. I could never work with rude and entitled individuals who can’t listen without getting offended or emotional. People who carry bad attitudes are a horrible look for you as well and can damage your reputation.
Remember to smile!
Make sure to remember everything I told you in this article. It is very important and can save you years of headache. I only speak the truth and don’t want you teaming up with the wrong people. I could talk on this subject for days. If you are ever in need of a business coach or mentor, feel to reach out to me at GallantDillmentoring.com or GallantDill.com. I appreciate you taking out the time to hear me out and look forward to one day getting to work with you.
I will see you at the top!