How do I make my business partnership work?
Hey, listen. If you have a business partner and things are going great, that’s awesome.
You know what typically happens? Somewhere down the line the finger pointing begins.
Somewhere down the line, you start having resentment towards your business partner.
Somewhere down the line, they have resentment towards you.
There’s a level of entitlement. Someone outworks the other person. Before you know it, you got to have that tough conversation.
How do you get a business partnership to work? Let me tell you this, because I’ve got coaching clients that are making a couple million a year all the way to making $25/$30 million a year.
Right now, for whatever reason, some of these partners are just not getting along. I’m going to tell you the secret to making that work.
What it Takes
This comes from first hand, in the trenches, experience. Right? I’ve had a lot of partners. I’ve got some amazing business partners, and we’ve been partners for over a decade, and we’ll be partners for decades to come, and I’ve had some business partners who have been less than stellar, who have promised unicorns and delivered donkeys, if you know what I mean.
You know if you’re one of those, and here’s how you’re going to fix that.
All right. First and foremost, it doesn’t matter if you have 10% stake in the business or you’re 50/50 partners, you have to work as though you own 100% of the business, you get 100% of the revenue, and you have to put 1,000% of the effort in every single day.
You can’t just do your 10% worth, or your 20% worth, or your 50% worth. You can’t just do the things that are within your wheel house or the things that you’re just comfortable doing. No, man! Something has to get done, you get up and do it.
You found a problem, you become the solution. That’s how you become an indispensable business partner. Does that make sense to you? You can’t be a little baby, man. You can’t be a little baby when it comes to doing business.
Maybe right now you feel okay paying me 10% for me doing your web site work. Let’s say I’m just doing web site work for you.
We’re just making $100,000 a year and I’m getting 10%, you’re keeping 90.
What happens when we’re making a million dollars a year? Is that web work that I’m doing worth my 10% now? What about three million a year? What about five million a year? What about 10 million a year? Do you want to give me a million dollars, 10% of that, a million dollars to do web work?
Do you start thinking, “Huh. You know what? I think I could fire this guy, part ways with him, and just hire someone for $140,000 a year to do all my web work”?
Whether you’re the partner on that side, or this side, you guys got to come and have a conversation, man.
You guys got to have a conversation and say, “Listen, doesn’t matter if we own 50/50 or 90/10 or anywhere in between, I promise and I commit to doing 100% of the work every single time. I’m going to work like I own the damn thing. I’m going to work like someone was trying to take it away from me.”
If you want a partnership to work, man, that’s what you’ve got to do.
Success Can Kill a Partnership
Guess what happens in partnerships? Guess what happens? Are you ready for this?
You’re going to make big sales sometimes. Other times, you’re going to have dry months. Dry months.
Maybe your ads stop running on Facebook and Google, and all of sudden all your traffic dies, and your sales die.
Maybe, maybe, just maybe, your sales copy on ClickBank gets disapproved.
Maybe Google decides to put you in a sandbox, and you’re not being found anywhere on Google.
You know what happens when there’s a partnership then?
All of a sudden we end up seeing the strength of that partnership when the shit hits the fan. That’s what happens.
“Well, it’s not my fault, man. It was your fault.” No, man! Take responsibility. Work like you own 100% of the damn thing. Be indispensable. If you want your partnership to work, be indispensable.
Become a Better Partner by Becoming a Better Leader
The only thing you get paid for is done. Think about that. Success manifests itself when you work your ass off. The best leaders know that enthusiasm will motivate, and inspire, and move people to action.
Now you know that you NEED to become high performance entrepreneur – no matter what your official title is – you’re probably wondering HOW.
The fastest, most sure-fire way to do this is to surround yourself with other fitness entrepreneurs who are operating at the level you want to reach.
Forget being the smartest person in the room – you need to be the one looking around at all the people ahead of you and thinking, “I need to catch up!”
When you’re in that position, that’s when the magic happens. That’s when you have more potential for growth than anybody else.
So where are you going to find these top performers? And how will you get them to devote any of their precious time to working with you?
VERY SIMPLE – you find a Mastermind group that is specific to fitness entrepreneurs and has a track record of taking businesses from good to great.
Quite honestly, I already know which group fits that description…
Check out 7 Figure Mastermind today – my elite fitness business coaching program where we will give you the exact, bullet-proof, laser-guided advice you need to blow your business up, smash through any obstacle, and become the number 1 fitness authority in your community.
Committed to your success,