Match Made in Heaven
How do you approach a potential partner without stepping on anybody's toes?
Q: I have a friend who has
taken his business as far as he is willing to go without investing
more money into it. I believe the business has great prospects.
What's a win-win way to propose the idea of our entering into a
working relationship to expand the business?
Name withheld
A: The next step depends on
how well you know your friend and how well he knows you. If you
feel your friend knows and trusts you, then asking whether he would
welcome a written proposal for how you might work together would be
the next step.
If you think there isn't enough rapport to feel confident
you'll get a yes answer, then take time to get acquainted.
Propose doing something you know he likes to do, then find a time
when it's appropriate to share your interest in taking his
business to the next level.
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When you do this, notice whether your friend is picking up on
what you're expressing and if he's returning your interest.
If you're not sure, you might test his interest by asking a few
questions like "What do you think?" and "How does
this sound to you?"
Be sensitive to the way he makes decisions. Some people need
time to let an idea percolate; others need to hear something more
than once. Still others decide on the spot, in which case you risk
losing a relationship if you press further. If you're not sure
how your friend prefers to make decisions, one way to find out is
to ask how he's decided something in the past.
Paul and Sarah Edwards' most recent book is The Entrepreneurial Parent. Send them your
start-up questions at www.workingfromhome.com or e-mail entmag@entrepreneur.com.