Having a partner in the wild world of electrons and voltage can be helpful to keep the momentum going and grant you a bit more flexibility should you need to take a bit of time for yourself. Spreading out the workload is a huge benefit of having a partner, but not every electrician is in a position in which a partnership makes the most sense.
Partnerships 101
A business partnership can have many different looks, but ultimately, it means one thing: you’re sharing your business, and the future of that business, with someone else. Although we were all taught long ago that sharing is healthy, when it comes to your dreams and goals, life can fall apart fast if you’re not prepared for the realities of a partnership.
Choosing the right partner is probably the most important decision you can make if you want to have a partnership. Just because you think someone is a great electrician doesn’t mean they’re going to make a great business owner or a great partner. Obviously, you want to choose someone who has a similar standard of excellence as you do, otherwise, your partnership will always be at odds, but they need to also have business skills that complement your own.
For example, if you hope to add a partner that can take over some of the management duties you struggle with already, a partner who isn’t a strong leader is going to further frustrate your efforts at keeping your team motivated and moving forward.
Other Ways to Collaborate
Just because you can’t find someone who’s a strong partner in business doesn’t mean you have to do it alone, though. You have other options besides legally tying your futures together, these days. Any and all of these could give you the same kind of benefits without as much risk:
Joining a Trade Organization. Sometimes business owners think they need a partner when they really just need someone to help them feel like they’re not alone. A trade organization can fill that gap, especially if you attend regular meetings and social events. You’ll meet others in your trade, be able to swap stories and commiserate about the state of whatever’s bothering you in the moment.
Naming a Right Hand. You can have some of the benefits of a partner in management by appointing someone you really trust as your right-hand guy (or gal). That project foreman that always goes above and beyond, the assistant that never fails you, an electrician you trained and has stayed with you over the long run - they’re all great options for a second in command. Ask their opinion about the hard stuff, listen to their input. You may discover that you trust them a lot with the things that you struggle to find the motivation to do yourself.
Enabling Team Leads. Bigger organizations may have multiple teams, requiring team leads to help keep everyone on task. If you have teams, give those team leads more freedom, so you’re not constantly bogged down in micromanaging everyone. It’ll help lift the load that falls on you and gives everybody a little morale boost with the additional room to breathe.
Teaming Up for a One-Time Thing.If you still think a partnership might be a good situation for you, why not team up with the partner you have in mind for a one-time project? If it’s not a good fit, you can part on friendly terms, rather than having to eventually end up in court or with a glowing ember of hatred for someone you once admired. Treat your trial period, no matter how many one-time projects that is, just like the real deal, don’t pull any punches. Go all in and you’ll feel more confident about the ultimate partnership’s success.
So, have you been part of a partnership? How did it go? Would you partner up again? Tell us in the comments!
Partnerships 101
A business partnership can have many different looks, but ultimately, it means one thing: you’re sharing your business, and the future of that business, with someone else. Although we were all taught long ago that sharing is healthy, when it comes to your dreams and goals, life can fall apart fast if you’re not prepared for the realities of a partnership.
Choosing the right partner is probably the most important decision you can make if you want to have a partnership. Just because you think someone is a great electrician doesn’t mean they’re going to make a great business owner or a great partner. Obviously, you want to choose someone who has a similar standard of excellence as you do, otherwise, your partnership will always be at odds, but they need to also have business skills that complement your own.
For example, if you hope to add a partner that can take over some of the management duties you struggle with already, a partner who isn’t a strong leader is going to further frustrate your efforts at keeping your team motivated and moving forward.
Other Ways to Collaborate
Just because you can’t find someone who’s a strong partner in business doesn’t mean you have to do it alone, though. You have other options besides legally tying your futures together, these days. Any and all of these could give you the same kind of benefits without as much risk:
Joining a Trade Organization. Sometimes business owners think they need a partner when they really just need someone to help them feel like they’re not alone. A trade organization can fill that gap, especially if you attend regular meetings and social events. You’ll meet others in your trade, be able to swap stories and commiserate about the state of whatever’s bothering you in the moment.
Naming a Right Hand. You can have some of the benefits of a partner in management by appointing someone you really trust as your right-hand guy (or gal). That project foreman that always goes above and beyond, the assistant that never fails you, an electrician you trained and has stayed with you over the long run - they’re all great options for a second in command. Ask their opinion about the hard stuff, listen to their input. You may discover that you trust them a lot with the things that you struggle to find the motivation to do yourself.
Enabling Team Leads. Bigger organizations may have multiple teams, requiring team leads to help keep everyone on task. If you have teams, give those team leads more freedom, so you’re not constantly bogged down in micromanaging everyone. It’ll help lift the load that falls on you and gives everybody a little morale boost with the additional room to breathe.
Teaming Up for a One-Time Thing.If you still think a partnership might be a good situation for you, why not team up with the partner you have in mind for a one-time project? If it’s not a good fit, you can part on friendly terms, rather than having to eventually end up in court or with a glowing ember of hatred for someone you once admired. Treat your trial period, no matter how many one-time projects that is, just like the real deal, don’t pull any punches. Go all in and you’ll feel more confident about the ultimate partnership’s success.
So, have you been part of a partnership? How did it go? Would you partner up again? Tell us in the comments!