5 Success secrets of win-win professional partnerships

2 years back was that day of despair, when my partners announced that I should renounce the company I co-founded and built for 5 years!

What followed the next two months from that day was a frenzy of moving my team, systems, projects and re-locate to a new venue without inconveniencing my clients. Back then I did not have the time nor mind space to reflect on what went wrong with the two partnership failures I faced one after another.

After the ‘spring back’ phase and recovery, I started reflecting on the secrets to sustained successful partnerships.

Coming together is a beginning; keeping together is progress; working together is success – Henry Ford

Partnerships among peers are common in Architecture and Design practices. Many design practices are also founded by husband-wife partnerships.

A partnership is born out of a need for support system, strength and confidence during the early start-up phase. It brings together people with complimenting strengths, providing access to goodwill and network of two or more people to the organisation, apart from the qualities mentioned earlier. Partnership entities also grow stronger and faster in comparison to solo practices or businesses.

When it comes to businesses, friendships turning into partnerships are a common occurrence. While friendship or marital relationship serves as a good supporting emotion to business partnership, it is however not the foundation for lasting association.

A. Creation

What are the ingredients then, to lasting win-win partnerships?

1.    Common Vision and Values

A partnership must be founded on a rock solid base of shared ‘Vision and Values’. Individuals who share a common vision and similar set of values will bond better in a partnership.

Let’s face it, individuals are different and it’s the differences that bring about uniqueness and diversity. However in a formal partnership organisation, there ought to be a fair degree of overlap and common ground between partners on the vision and values of the organisation they are about to build.

When your values are clear to you, making decisions becomes easier – Roy E Disney

Individuals seeking partnership association are advised to have robust, openhearted conversation around each one’s vision, objectives and personal value system.

Vision and values serve as the compass to individuals during trying times and triumphs along the partnership journey. Once a fair degree of commonality is noted it is preferred to proceed to the next aspect of what I call arriving at the ‘equilibrium’.

2.    Equity or Equality

This is an important distinction to understand. Each partnering individual brings with her/him a different set of skills, capabilities, management style, network & connect and so on. Financial capital is possibly the only measurable component of the collective ‘equity’ that each one brings to the table.

Be incredibly, ruthlessly selfish with your equity – Douglas Leone

This is where it gets difficult and partners settle for ‘equality’ instead of ‘equity’ while arriving at the stake holding. Base of friendship if present, contributes emotionally to the tilt towards ‘equality’. This aspect of lack of attention to true ‘equity’ is the single biggest reason for partnership failures.

The advice here is to debate the ‘equity’ dimension before arriving at stake holding. As I mentioned earlier, this is the difficult part to debate as emotions are high during early partnership discussions. An equilibrium thus established prior to incorporation based on well debated equity among partners paves the way for sustained partnership.

B. Sustenance

What tenets ensure strength and longevity in partnerships?

3.    Communication

Need for openness and transparency in communication between partnering individuals cannot be stressed enough. Openness to listen to the other and openness of heart particularly during difficult situations and business pressures goes a long way in strengthening the partnership bond. Transparency in all aspects from financial to professional and personnel dimensions builds confidence and stronger organizational culture.

Filtered communication between partners may help in the short run, however causes serious damage to the equation if allowed to persist. This is the root cause of organizational politics. Tough and transparent communications actually build trust and stronger organizational value system.

Communication must be HOT, that is Honest, Open and Two-way – Dan Oswald

Perceptions rule today’s communication world. One of the partners, if sensitive can call for a time-out session with the other/s to seek clarity in perception if one senses a disturbance. It is time to bring out the ‘un-said’ between the partners, re-set and re-connect with the vision and values when discomfort is felt. This practice of ‘clearing out perceptions’ between partners helps in keeping partnership stresses at bay. Subsequently it is important to take action/s or square off the perceptions to bring about clarity among the partners.

4.    Commitment

Partnership is about you and not the other/s!

This was a hard lesson for me to learn. While we thrive finding faults with each other during our ‘robust and transparent’ conversations, it is in the interest of the organisation and the association to come to terms with one’s own commitment.  Minor sacrifices between partners are a given; however if any one of the partners is observed to be ‘over-sacrificing’ or the opposite ‘under-performing’ it signals a disaster.

Unless commitment is made, there are only promises and hopes… but no plans – Peter Drucker

Managing equitable commitments is a challenge, which is overcome only by aligning Vision & Values and having transparent timely communication.

Great partners empower each other and leverage each other’s strengths. They retain the right to push one another and not rob the other of her/his power by negative discouraging acts/conversations.

C. Separation

When the inevitable separation is apparent?

Assuming one has taken enough care at the start in finding ‘Vision and Values’ alignment and had clear ‘Equitable’ equation of partnership. Given that one kept up his commitment and kept clear ‘transparent’ communication going. Yet, when you reach the rare point of total discomfort in your partnership! Then what?

5.    Agree to part ways in the most dignified way

Keep your class and propose a division plan. Be prepared to lose a bit, after all you are not losing anything intrinsic to you. Your partner is your loss and you are her/his loss too. Lose the partner gracefully but do not lose the friend in her/him.

The best way to find yourself is to lose yourself in the service of others – Mahatma Gandhi

Celebrate! Because it is time to find new partnerships and discover a new YOU!

In the last two years after losing two partnerships and 5 Partners (who are still friends) I have moved on to create 5 partnerships and 20 new partners. I consider the parting day as the best day of my career life. To stay clear, equitable and committed is my personal ‘mantra’ for great partnerships.

Article By: Sathish Desai, Principal Architect & Designer at CREO, Bengaluru

Disclaimer:

The content in this article is from the author’s personal experience and his learning from various resources. It is intended to inspire and help people. Author is open to feedback and comments. This may be shared for the benefit of students & professional communities.