A partnership that does not value the experience, talent, and skill of each member is doomed from the outset.
In most cases, we all know to ask, "What does this person bring to the party?"
I mean, we usually look to specifics such as money or financing, specialized expertise, or maybe even personal contacts when selecting prospective partners.
But what we fail to ask is, "Are more options available to us now, as a group (with the inclusion of this person), or not?" In other words, has the whole "pie" grown larger? For everyone?
All too often the answer is no.
Instead the inexperienced look to form partnerships for the purpose of reassurance; not results. They favor comfort over competence and friendliness over strength. And in so doing, they expect far too much from everyone else and not nearly enough from themselves.
As a result, few powerful associations are made. That's unfortunate because a partnership, much like a chain, is only as strong as its weakest link.
Often, the average size (small) of those first deals doesn't help the situation either. Small profits are made smaller still when they are split among too many partners. And where there's too little money, people first lose interest and then lose heart.
Darwin was correct. It's called survival of the fittest. If you can't come up with a strategy that will allow you to prosper through your own efforts, then it's doubtful you will do better when paired with other inexperienced pilgrims.
Be brave. Learn to think for yourself and to take responsibility for your own future.
You won't regret it.
But now for some good news.
There are as many ways to win (become successful) this game of business as there are players to play it. You can model yourself and your strategies after other successful people or you can invent new methodologies of your own.
It happens every day.
*Originally posted on Capital Thinking - May 6, 2002