Do You Have a Great Partnership?

Source: Accounting Today

Here are seven attributes of great partnerships, according to August Aquila (www.aquilaadvisors.com):

• Partners trust other partners to:
  • Follow through on commitments.
  • Admit they need help in solving problems.
  • Do the right things.
• Partners share common values, e.g., integrity at all times (not just when someone is watching).
• Partners have good chemistry—if, after being someone’s partner, you wouldn’t choose him again, address the issue now.
• Goals are agreed on for each partner every year. Goals depend on each partner’s unique abilities.
• Partners respect each other.
• Partners’ skills complement each others’, creating synergy.
• Partners are in constant communication on important issues such as goals—through meetings, e-mail, phone, and personal interaction.

From Accounting Today, August 20, 2007, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809. For the complete article, click here, then select the article What Makes a Great Partnership.