A Partnership Worth Walking Away From


December 13 2011 l ndbs    By: Ndzavi Derrick Hlungwani       

The word ‘Partnership’ sounds very professional and exciting but to those  who have been given raw deal the word runs directly to their spine and leave their mouth bitter. There are things that happen in a Partnership that can signal that it is not going to work, such things can be behaviour of the partner or the attitude towards the entire deal. Good as it may, any partnership has challenges which if well managed can sustain it longer, however there come a time when one feels “Enough is Enough.”


With the following signs one can already know that the partnership will not work:


Refusal to seek Legal Advice

The minute you suggest to engage a Legal Advisor before signing the contract and the partner shows reluctance, know that something is not right. Never agree to sign a contract based on Moral understanding, let it be on Legal grounds. Morals are based on the feelings of individual at any given time whereas Legality is based on the set laws that will stand when morality collapses. Any deal is closed in good faith until bad intentions take over and cracks become big holes.

 

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Beware of the I, Me, Myself

The I, Me attitude can kill you inside especially when you are in a function or business seminar with your partner, instead of talking about the business as ‘Ours’ your partner refers to it as ‘My Business’, in your presence. That is a clear sign that you are not working collectively but you have the “I-built-this-business-from-scratch” kind of a person who does not value your contribution.


Meetings behind closed doors

You both looked for the offices to operate from but suddenly when certain individuals walk in the door of your partner’s office is closed. And out of guilt your partner tells you what was discussed as if it is a great business opportunity. Such behavior can lead to a conflict as you feel that you are part of the team and should be part of what is happening in open and behind closed doors. It is true that we all need privacy at times but that should not happen always.


Putting a close relative in charge of finances

We all do business to employ others and empower others but that empowerment should be balanced. For transparency sake you can not allow any of your relatives to handle finances of the company especially when you are in a partnership, if that is insisted by your partner just walk away earlier than later with regrets.


KIA Syndrome

Every company needs consultants and attorneys for advices and strategic planning. Your partner may refuse these services in the name of saving money whereas the money that you claim to save is channeled to unnecessary expenses. You partner may therefore end up training staff, fixing burst pipe, acting as accountant, such behavior may land the company into serious complications, before that happens find your way out if your partner insist on being the “Know-It-All.”


Having hands on the Cashflow Tab

Whenever there is money paid in the account this type of partner wants to share it, it is either someone passed away in the family or simply suggest that you get certain amount equally. They are not concerned about the cash flow of the company and that may lead to you borrowing always to keep the company going whereas the money you should be using is blown through bogus funerals. Any cash that is in the company is regarded as cashflow until the books are audited officially at the financial year end, it is then that the cash stops flowing and become profit.


Avoiding Meetings

When partnership starts there is common understanding that there will be regular meetings, be it weekly or by-weekly. Those meetings get overlooked by the other partner who is clearly aware that is in contravention of certain contractual obligations and you may end up not having meetings at all, that may signal the death of that partnership. Regular meetings are crucial and should not be clouded by the booming business because when wheels come off you will want to have meeting, by then there will be a lot of finger pointing as challenges were left to pile up.


At the beginning of the partnership we all talk and no one listen, and we talk sense as it is all about the future of the business, but as we walk the journey one starts to do the talking, dominating, and the other listen. The listener dies slowly inside to the point of silently walking away. Confront the situation immediately for clarity than bank issues and try to address them the day you decide to walk away.

 

Dress for Success Inside Out


November 15 2011 l ndbs   By: Derrick Ndzavi      

 

I was invited to Australian Embassy by a friend for a business gala dinner, the embassy was to outline business opportunities in Australia and I had to look good that day. I pulled my best suit and the tie that I seldom wear. I drove to the gala dinner and on arrival I felt lost as most of the guests were wearing shirts, no ties, just semi formal. This made me realize that each country has a way in which they define dress code for occasions especially in the business circle...Read More

 

 

 

 

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There is nothing wrong with being in debt as long they are within your repayment ability and is not driven by compulsive spending but genuine purchase of goods and materials that are essential~~Derrick Ndzavi

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Creative ideas reside in people's minds but trapped by fear. Create a judgement-free environment and you'll unleash a torrent of creativity~~Alex Osborne

 

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If you believe that business is a risk, then listen when others show you hidden risks before you get to them. If you only wait for the risks you know they may not come~~Derrick Ndzavi

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Don’t bank on the money that is still in the pocket of the customer no matter how reliable that customer may be but bank on the reliable product as it has potential to introduce you to new customers daily~~Derrick Ndzavy


 

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