TO THE PARTNERS OF A NEW PARTNERSHIP VENTURE

TO THE PARTNERS OF A NEW PARTNERSHIP VENTURE

DON’T BECOME ABHIMANYU
The first thing you must know is how to get out of it if the things don’t go as planned. If you don’t decide this early you will end up an Abhimanyu.


THE CHANCES OF DISCORD ARE EQUAL IN HUGE SUCCESS AND DISASTROUS FAILURE
There are chances that the venture will be successful. Then each party would like to corner as much as possible.

Per chance, if it doesn’t work profitably and there are more liabilities than assets then each one would try to escape his part of the bargain.

Having the things well documented keep the thought process away from any kind of mischief the human mind is capable of.

WHY PEOPLE COME TOGETHER:

LAW OF ATTRACTION
It is the law of attraction or magnetism. Whatever you may call but the thing remains the same. A rose is a rose by any name. You seek what you don’t have. That’s all. No more or less.

But once you get what you want the novelty dies away. You get bored. Sometimes you feel it is not what you thought of. Again this is the human mind. So always be cautious and use your best judgement.

THINK WITH YOUR HEART

Most of the time we think with our brains. Always make a point to think with your heart. Because as the brain is an analytical organ it tells you its analysis of what is known. The brain is not capable of anything unknown to you through the five senses. So here comes the role of the sixth sense.

ALWAYS BE SURE WHAT YOU WANT OUT OF THE DEAL

Most of the time we are not sure what we want out of the deal. We have little knowledge and information. Try to get as much as of the available info from all known sources. Don’t shy away to test your knowledge before using it.

Once you enter it make sure you convey to the other party in no uncertain terms what is your goal. Also get the reason for the other person joining you as clearly as possible.

The problem starts when you begin with something in mind and after entering the deal you find you have not considered something important. Then you use some other means to convey your demands. In the process you lose focus and the discord begins. It builds up like cancer and is discovered by the other party. It is a natural law that when evil enters your mind it equally affects the other party. People take subtle maneuvering steps hoping that the other person will not notice. But again you go wrong here. You may know people for years but you hardly know them. Then certain instances change the outlook drastically. So be on guard whatever you do. It is better to fall apart timely than prolonging and making the relations sour to the extent you cannot reconcile.

If you find that you have missed something important try to convey to the other person and get the deal reorganized. If the other party doesn’t allow it then you will have the option either to continue with the status quo or to quit if possible. So always have a clause in your agreement to revise/ review it periodically or on happening of specified instances. It is good to have your principles in place but never so rigid that you cannot allow little adjustment here and there.

ALWAYS HAVE TRANSACTIONS OVER BOARD
Always route your transactions through bank. Never deal in cash. By chance if there are occasions you cannot avoid dealing in cash make a record of it and route it through bank at the first opportunity.

NEVER TRY TO SHORTCHANGE
In long relationships it pays to be clear and truthful. You cannot fool everyone all the time. So don’t try to fool anyone a single time. It is the personal reputation of a person which is most valuable of all.

DISPUTES SHOULD BE SETTLED AMICABLY
Nowadays almost all contracts contain arbitration clause. Try to figure out how arbitration proceedings will take place. Who will be the arbitrator or arbitrators. If there is more than one, you will need an umpire. Having more arbitrators may compound the situation further.

First thing is to make sure the communication channels are kept open and there is no possibility of dispute. If still it arises try to sort it out amicably. It still it cant be resolved go for the arbitration.

Always remember if this is the last venture you wanted to be in? If not, let the other person have his way and bow out. You will be amazed to find examples where the person bowed out has been re-inducted with full glory. I recall how Steve Jobs was thrown out unceremoniously from the Apple Computers. He started from scratch again and became successful in two ventures. Eventually he was called back at Apple and now he heads three successful companies. So the lesson is don’t use your energies for worthless causes. You can always start afresh with full vigour and bounce back. To happen this you must have a right value system in place. Always try to be creative. Creative people attract right type of people and get successful in whatever they venture.