I have been involved in a lot of negotiating this year. From small companies with internal problems to very large companies unable to close deals. The subject of negotiating is a big topic and not everything can be covered in a single post. But I want to help you with an important, maybe the most important piece in negotiation.
Few business partnerships succeed. Tension arises when the business isn’t doing well and when the business thrives. Beware of this…
I work with too many people who think they can make a plan in an hour by just “deciding things”. That’s not a plan. That is a recipe for problems. Hasty decisions lead to problems and waste.
If your business has been running a while, even a few years, should you bother to make a plan? You bet. I can guarantee you are wasting money and losing opportunities if you have no plan. But a plan for a business that is already running is different from a business plan at launch.
You put in a crazy day of 10-12 hours and look back realizing you didn’t get a lot accomplished. Ever add something to your “To Do” list that you already did just so you could cross it off? The amount of time we spend working has no direct correlation to the amount of work we get done.
If you are in a business partnership and there is tension with your partner, get it resolved or get out of the partnership before the end of the year.