Outline Each Partner’s Responsibilities at the Initial Planning Stage
Planning is essential to the success of any venture. Before opening your business, have a series of detailed meetings to divide responsibilities. Having this list ensures that nothing is overlooked and each person knows exactly what they are responsible for, daily and overall. No detail is too small to plan ahead.
Write and Update Status Reports
Status reports are a great way to keep communication open throughout the business. Each partner and each staff member should periodically write update reports, and everyone on the leadership team should have access to them. This keeps everyone aware of the status of projects and internal goals, even if they’re not directly involved.
Schedule Frequent Meetings
Make time every few weeks to check in with each other. My partner and I sit down for a conversation every two weeks. This is your scheduled time to stay up-to-date on what the other is working on.
Keep Communication Lines Open
Make sure you’re reachable by phone and email. As partners, you’ll depend on each other to be there as back up or assist each other in decision-making. If you build that relationship and trust with your partner, your business will be that much more successful.
Davora Sides is the operating owner at Childrens Lighthouse Learning Center in North Center. She has been a business partner since the center’s inception in September 2015.