THE ULTIMATE SUCCESS FACTORS FOR BUSINESS AND PARTNERSHIP

Business is the ultimate profession in life and the right and profitable one will ensure that you will be employed for a very long time if you keep your capital and profit rate at a balance both in business and your life also. A human resource to me is the greatest asset that a business can possess (an irony right?), thus for a person to be alive it means more revenue and more profits due to different possibilities because the asset doesn’t depreciate but appreciates by 365days annually.

A great man once said: friendship is stronger than the government and it is almost equal to family. 

This means that the Friend-Ship that a person decides to sail in is an element that if explored and used well, it will take you to places that even the government, I mean the GOVERNMENT cannot take you.

Considering the importance of ships in achieving success lets see the essence of partnership and business, here is an extract scene from the movie American Gangster starring Denzel Washington as Frank Lucas.

An Extract from the movie: American Gangster (Denzel Washington as Frank Lucas and Idris Alba as Tango)

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Frank Lucas ( The American Gangster :): Sitting in a coffee shop where he drinks coffee everyday on a chair with a stylish round table to match surrounded by all his five (5) younger brothers and while sitting he says:

“The most important thing in business is Honesty, Integrity, Hard work, Love, Loyalty and Respect”

He looks outside the window and sees Tango walking down the street.

He turns the cup filled with sugar on the round table, carrying an empty cup, he walks outside the bar with his bodyguard quickly following behind…..He turns right and begins to walk down the street after sighting a rather Pimp natured Tango with a girl on his arm….as he walks towards Tango, Frank confronts him requesting about a certain percentage (%) to be paid.

With his younger brothers watching through the window glass of the shop………

Still in a heated disagreement with no yield yet, Frank pulls a Gun and holds it right on the forehead of Tango and Frank tells him that if he doesn’t pay up he will shoot.

A rather reluctant Tango through his body language calling Frank’s bluff kept laughing and next thing everyone hears is a gunshot straight through the forehead.

Frank then squats down, removes a dollar note from Tango’s suit pocket and drops it inside the cup, Frank then gets up and heads back to the bar with his brother stunned and shocked from seeing what just happened through the large  window of the coffee bar

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A point of View: the other guy did not show a certain respect to a venture he was profiting too and in agreement with. (Lack of Respect I can see, could it be the reason for killing a gangster in broad day light with witnesses around, that a question you should ponder upon. This illustrates how important principles binding to business are from even a Gangsters perspective.)

The profitability and success of a partnership relies upon the collective efforts of the people or partners involved, their willingness to abide by the principles guiding the partnership. So, it is important for one to choose a business partner wisely and consider the following:

Common Partnership and Business Vision: You have to possess the ability for thinking strategically and ensure that the partnership has a vision that is a match for the people involved. Because if your visions don’t match, things are bound to fall apart. The partnership may not always agree on everything but if the same vision is still shared amongst then you would have less contrast views in making business decisions because in the end all views and decisions are drawn to meet the same vision, thus it is just a matter of routes to follow to reach the same destination.

Credibility: keeping to your words and character, gives you credibility. A business partner who keeps to his/her words and delivers at the required and right time is credible. Your business partner has to be someone you can rely on to be credible in all dealings.

Rapport: Disagreements are bound to result to a rise in tensions in the course of your business, but having a good relationship with your business partner, will create an avenue for dialogue always to achieve a common aim and benefit.

Mutual Trust: Trust entails having credibility in your dealings and work.   A business partner should be someone you can share this same credible character with to achieve a goal. Trust is a key because a lot is at stake in running a business. You should be able to trust a partnership judgment on issues.

Winning Attitude and Mentality: If you want your business to succeed, then you need a partner who is craving for success also and a partnership that is ambitious, purpose-driven, pro-active and willing to put in work for success.

Competence/Confidence: A good partner should be able to confidently and independently carry out business tasks, most especially when you are not around.

Discipline: Hard work without discipline lacks substance; it cannot stand the test of time. A good business partner exercises some level of discipline.

Experience: Experience is an asset that cannot be bought, but acquired. A good business partner should be one who has working knowledge in your area of specialization.

Complementary skills: A good partnership is one where both partners complement each other. No matter how good you are, you can never know it all, likewise your business partner.

Communication: Good communication is vital to the success of a business partnership. Good partners communicate about the little and big  things, which makes for a successful business.

Above all the key factors of Business are: Love, Loyalty, Respect, Honesty, Hard work and Integrity. With these factors, your business and partnership is bound to succeed and attain great heights.