Entering into a business partnership is a lot like getting married. You are likely going to spend more time with your business partner than you would with your spouse so it’s important to choose your partner wisely. In an ideal partnership, everyone contributes their time and efforts equally in order to reach success. In reality, however, this isn’t always the case. Unfortunately, people will disagree, personalities might clash, and goals and values may differ. As a result, you may find that your business partner is reluctant to address certain issues the same way as you. Perhaps you have great ideas and visions for the business but your partner hesitates to agree with you. This could lead to tension, as you both obviously see things differently. When this happens, there are certain strategies you can employ to help convince your partner to give your recommendations a shot. Here are 5 suggestions for how to approach a reluctant business partner.
1. Have a Defined Value Proposition
If there comes a time when you need to negotiate with a reluctant partner you should definitely prepare a value proposition prior to the discussion. An effective value proposition articulates why your partner should listen to your suggestion. When you create a compelling value proposition, you are explaining to your partner why your suggestion will be beneficial to the business. It allows you to clearly state the benefits of your idea and how it will positively impact your business. Be sure your value proposition includes specific examples and unique selling points that set your idea apart from others.
2. Back Your Proposition Up with Research
Even if you already have a good idea of why your idea will work, it’s important to spend some time doing research to back up your claims. Your partner might not agree with your opinions, but it is hard to disagree with solid evidence. Gather information that supports your ideas and why they are beneficial and then come prepared to share this research with your partner.
3. Show Long-Term Growth
Oftentimes people are reluctant to do something that requires a big change because they might not feel like the short-term benefits are worth it. However, if you can provide evidence that supports long-term growth it will look much more appealing. Be prepared to show how your idea will provide a long-term solution or benefit that will be good for your business and focus on the value it will bring to your business long-term.
4. Invite Your Partner to Share
Negotiation is all about give and take. If you are trying to negotiate with someone who is reluctant, let them know that you understand their hesitation and fears. Invite them to share their concerns and listen intently to what they have to say. Keep an open mind and be willing to see things from their point of view. Not only will this make your partner feel like their feelings are validated, but it prevents you from making a decision without considering all angles. In addition, invite your partner to share their own ideas or solutions. This lets them know that you value their ideas and you genuinely care about working together as a team.
5. Be Willing to Collaborate
Perhaps you won’t get the exact results you want, but don’t let this be a reason to close the door on your idea. Remember that you are partners and encourage each other to come up with an idea together. Collaboration is about taking the best that each partner has to offer and creating a new solution. Sometimes a reluctant partner will feel better about agreeing to something when they feel like they had a say in the decision.
