Relationships and Business Formation

Friday, June 5, 2009 by anthony ware
Managing the relationships during business formation is just important as managing the process. 

We are currently working on a project involving multiple co-founders.  All of the partners bring specific expertise to the project.  What I find most interesting is the dynamics of the relationships between the co-founders and the between the company and external businesses.

For example, the company is working with business investors in Indianapolis and outside of the U.S.  The Indianapolis business relationship and the non-U.S. business relationships are similar regarding the business discussions.  The difference is the cultural aspects of the interactions.  The management of the cultural aspects requires a little more patience than the business process.

On an internal level, the co-founders each have different viewpoints of the same business issue.  Some are very detail-oriented while others are focused on the macro-level.  We view this as a good situation for the company.  That being said, the conversation still must be managed properly in order to accomplish the micro and macro goals.

How do you mange the relationships in your organization?

Be+Do+Solve(TM)

Comments for Relationships and Business Formation

Monday, June 8, 2009 by Bill Shelley:
The biggest transition I have had in terms of managing external relationships was going from being a supplier to being a customer for the exact same product. As a supplier I tried very hard to make sure my customers were getting the technical support they needed. As a customer, it is too easy to put myself in the suppliers' shoes and perhaps be a little too trusting, which is a bad thing. I have to work hard to change my mindset and turn into a "demanding" customer, and make sure the best interests of my company are being met. That can be tough when I am dealing with some people who are past colleagues or past competitors. Long term, I think relationship building is a major part of my job in selecting the right suppliers, to make sure we can be compatible partners in production over the next 10 years. Becoming adept at dealing with the vastly different cultures of suppliers in Japan, China, Taiwan, Europe, and the U.S. is the key to my success!

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