There’s a different type of joy when you work with like-minded people. You feel like you can accomplish the impossible because you have a team who is willing to do the labor & whatever needs to be done to accomplish the goal. If you’re looking to start partnerships or have ideas that you’d like to run pass your friends then this blog is for you. Here are 3 things you should think about before doing Business with friends.
1. Be Professional- How you approach them is how they’ll deliver. What I mean is pitch the proposal professionally so that they may deliver professionally. It’s easy to feel relaxed with our friends but having a personal relationship with them is different than having a business relationship. Being mindful of their system analytics, the programs they use, & the most convenient way to contact them is very important. For instance, texting may not be their best form of communication for business, maybe they require emails, contracts, and/or invoices. Don’t take it personal though it’s just business.
2. Talk Money- What are each of you willing to invest? Partnering is not only nice for sharing the work load but also lighter on your pockets. With that being said, decide on your targeted client , leverage resources, & learn how to elevate your client’s experience. Remember there are ways to wow your client that are FREE, give them experience! Changing your perspective from selling 100 products for a one time payment to building a rapport that establishes consistent income is the goal. Set the the expectation to market beyond the launch. In your story what happens after the announcement? How do you add value after the launch party? After you’ve handled those things now it’s time to Call Your Pay. This is the moment you decided how you want to pay yourself. Are you only looking for exposure, email enrollment, free products, and/or paid campaigns? Choose wisely on the outcome of your investment, you don’t want to cheat yourself.
3. Don’t assume- This is not the time for “hypothetically speaking”. Have a solid plan in place & be clear on your expectations. Your friend is now providing a service with you & should be treated as a service provider not your “plug”. Both parties now have to put in the work & not have unrealistic expectations. So having a clear understanding of the goal & plan will help prevent confusion later on. Learn your friends expertise, trust their value, & consider their time….Sharpen one another!
“Just as iron sharpens iron, friends sharpen the minds of each other.”
Proverbs 27:17 CEV