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Proven Business Relationship Agreement – Part 1

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Proven Business Relationship Agreement – Part 1

By DC Cordova

In this series of posts, I’m going to share with you what has worked for me in business for the last 30 years. I currently have business agreements with partners in China, Singapore, Malaysia, Australia and the United States. I’ve done business with well-known authors, speakers, artists, producers, film-makers, promoters, government ministries, large and small organizations – you name it. What I tell my clients is if you prepare for your business relationships, your partnerships, like you do marriage, then I can guarantee you a significantly higher success rate. This article contains steps 1 and 2 to creating a successful business relationship. Follow along, put it into practice and enjoy the fruits of clarity.

As all human beings have feelings, opinions, beliefs and emotions that can and do affect us in different ways in the various circumstances that make up our lives, I, _____________________ and I, _____________________ agree that as of this date: _______________________, we have read the chapter in What School Should have Taught You about Money & You and have fully discussed and hereby declare that we have discussed and are now fully aware of the following…

1. Be willing to make your partner happy

___ We have asked and told each other what makes each of us happy in business and personally.

___ We know what we can do to bother them and get the upset.

___ We are willing and committed to hear each other out – repeating the  other’s point of view before expressing our own opinion.

___ We are willing to have things go “their way” at times

___ We will consciously and clearly “agree to agree” or “agree to disagree” when necessary.

___ We will “share” in the way the business is run and agree to how that might look like.

2. Create joint ventures first before creating your business partnership.

___ We will go (or have not gone) into our partnership until we have worked on a few projects under “joint-venture” basis first.

___ We realize that this partnership/business venture is more like a marriage than anything is, and we will get to know each other like we would in a courtship.

___ I am willing to commit to my partner, as well as the business…

___ for a very long time.

___ through thick and through thin

___ to talk together and meet on a regular basis to evaluate how it is going

___ to call in a third party to facilitate when we don’t see eye to eye and cannot resolve a conflict within 45 minutes.

___ to get to know each other first for at least ___ months or ___ years.

___ We will spend plenty of time together before moving on to larger commitments.

___ To see each other working under a variety of situations, both when things are going well and when they aren’t.

___ To see each other when we are under pressure.

___ To spend time traveling together.

___ To get involved in activities together that will allow us to see how my potential partner(s) react under different situations.

___ To interview their old friends and ex-partners.

___ To attend several different types of seminars together, including intensive, long-term personal growth as well as business programs.

___ To learn how best to communicate with each other.

___ To work with a professional team builder and business coach to help us review or develop our business practices.

___ To develop a “language” we can use together.

___ To meet as soon as possible after each project we do together to review it, confirm what worked, list what didn’t work, and commit to the change that each “learning experience” indicated is needed.

___ To correct my systems (or attitudes) and learn from them.

This may sound like a lot to agree on – and if you really read this, you do this in regular relationships before fully committing in a marriage. I encourage you to approach your business partnerships like a marriage because you are legally agreeing to be in partnership. And sometimes dissolving a business can be more destructive and time-consuming than divorce. So be prepared.

And as my old partner used to say, “If someone will cheat in their marriage, what would stop them from cheating in business?”

In my next post I’ll share Steps 3 -9 in Proven Business Relationship Agreement – Part 2 …from “Get clear on your purpose” to “Who is going to do what?”

With loving thoughts,

DC Cordova

P.S. – Get Your Personal Entrepreneurial Strategy and take your business to the next level!

© Money & You® 2006 – 2009

The Prospering Power of Perception

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Being fortunate is first and always a state of mind and so is misfortune.

In an instant, one can become fortunate with the right attitude or unfortunate, just like that, because they believe they have lost someone or something they value. You can be feeling wonderful and then get a phone call from someone who criticizes you. Right then, if you do not keep your mind in a good place, you can become hurt and dejected and lose your motivation to do anything for the rest of the day or longer.

One day a while back, I mentioned to my friend that I was surprised how dark and gloomy the day was. She laughed and pointed out that it was a very sunny day, but I was wearing dark glasses. Taking off the glasses, I realized that she was right. This was such a good lesson for me to remember. Most of what we believe is happening is really the result of our perception. Perception determines what we think, feel, and do. From one point of view, the glass is half empty, and from another, the glass is half full and both are right according to their perception.

A lucky person thinks, “I am lucky,” and they always find a way to be a winner in every situation; whereas, an unlucky person thinks, “Nothing good ever happens to me” and will find a way to be a loser in every situation. Both are right because this is how they see things.

A friend of mine, who worked in an automobile agency, told me about one of his co-workers. Every morning the co-worker would check the coin return in the coke machine, and if he found money there, he would say, “Today, is my lucky day and would sell two or more cars that day.” After a while, the manager, who was smart, would put money in the coin return and the man would find the money and say, “Today is my lucky day and he would sell 2 or more cars.” On the other “unlucky days,” he didn’t sell any cars or perhaps one.

You may be thinking, “Yes, but, some people actually have won the lottery, prizes, and such and others have lost their jobs, mate, house, etc., so how can you say good and bad luck are the result of one’s perception?”

Right perception makes the difference between a loss or gain. For example, losing a job seen in the right fortunate way means that the universe is kicking you out of one situation because there is a much better position for you somewhere else.

Perhaps it is time to go into business for yourself rather than depending upon others. You are ready to do what you love and prosper from it, rather than being in a stale, dead-end, and unsatisfying job. Read more