Risk

How to handle a problem business partner

I’ve been having major difficulties with my business partner for a new venture we’re trying to grow. Any tips/advice for remedying the situation?

Most problems between partners occur because there isn’t a clear definition of roles, expectations and responsibilities. One person often sees themselves as the big thinker but needs someone that can follow-through on those items. The other person that is great at execution needs someone that can sit down long enough to clearly articulate the path. Neither role is sufficient for a successful business. If each one doesn’t understand what needs to be accomplished for a successful business, it will be a difficult road.

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Narrowing your career choices to your advantage

Recently I was approached by a professional struggling with what her next career position should be. Her background was in project management, but she could go back to school and get her MBA. She should start something on her own, or she could stay exactly where she is and focus on her PMP certification. She could take her transferable skills and move into operational management for the executive level. She could do this or that or the other. She was continually flip-flopping among all these options that she was stalled.

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You can’t get your money, unless you ask for it

4 weeks after I had completed his taxes for him, I asked this friend-first-removed if he had received his refund yet. He confessed that he has the forms signed, but he has not mailed them in yet.

“Well — you know you can’t get your money, until you mail the forms in….”

It’s the same in life and work. It’s more difficult to get what you really want if you don’t explicitly ask for it and then follow-through with your plan.

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Effective risk management starts with experience.

We can study about risk management. We can take classes on steps for risk assessments. We can learn about using probability and impact to prioritize our hazard lists. But it’s experience that streamlines our risk assessment process. With experience we can quickly list only the relevant risks. Its experience that automatically eliminates the low probability and low impact items. The unnecessary items become invisible and therefore free time to focus on the more important items.

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