Monthly Archives: November 2012

Avoiding the Pitfalls of Partnership

I’m writing this article as someone who has been married for 5 years, been involved in a start up business partnership with multiple partners, a franchised business for 6 years, and having had the same best friend since I was 6.

All of the above are a form of partnership, and they all have added to my experience of partnerships and what makes them successful or not.

I get frustrated when people tell me partnerships do not work, because like marriages there are many that don’t and many that do.

One of the most stressful and frustrating lessons I have learnt is that of the business partnership. So I will cover my experience here.

Scott Farquhar Co CEO and Founder of Atlassian gave me the advice that partnerships are high BETA, either they work exceptionally well or they don’t work at all. Scott and his Partner Mike Cannon-Brookes are of the former growing to over 23000 customers and 100 million in revenue last year, have enjoyed year on year growth since Atlassian was formed and are on the BRW young rich list.

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Run your own race

 

“Keeping up with the Joneses” is an idiom in many parts of the English-speaking world referring to the comparison to one’s neighbour as a benchmark for social caste or the accumulation of material goods. To fail to “keep up with the Joneses” is perceived as demonstrating socio-economic or cultural inferiority. (Taken from Wikipedia.)

It is in this definition and recent experiences I have found my inspiration for this blog post.

There will always be someone out there who is richer, smarter, healthier and better looking. So why do we find ourselves comparing ourselves with others often to the detriment of our own happiness?

I’m often asked how long it took me to do this, or to do that. I have friends who think that because I’m married or have a business before they do that they are falling behind.

Who sold you on that idea?

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