Best option for two potential business partners to start a working relationship: using Option Solving?

A positive business relationship started building between an experienced executive and an acquaintance he knew from a related field about exploring the possibility of a partnership. This prompted one of them  to start considering some of their options for starting some sort of joint venture before their next meeting.

He immediately started formulating an appropriate question: “What is their best option, as two prospective business partners, to forge a working relationship; considering 1) they’re still getting to know each other, 2) both have related people oriented business experience, 3) both have wide organizational experiences, 4) both have worked for consulting firms, and 5) both have a good feel for the related marketplace?” There were more considerations but stopped at around 50% of the most vital ones…take a look at our Latest Example.

He then set-about producing two framing yin and yang “bookends,” which would be the least likely options. They were, “Don’t consider the partnership” and “Form a limited company from the outset.” Our Latest Example shows why these two bookend options were the least workable ones.

With his question and bookends in place,  he had to come-up with at least five alternative, practical options  He produced six because he wanted to give his potential partner the option of coming up with other possibilities. That way he would have greater buy-in to the option solving approach and the outcome.

You can see that one of his options was “Option C – Start with a Simple Success Strategy.” A success strategy is based upon three interlinking components that will drive an organization to near term success; those being Compelling Vision and associated Strategies; the required People Power; and the necessary Effective Leadership…You can always contact Leadership Solutions, through its Website http://www.ileadershipsolutions.com for further insights on this approach.

In our next blog in 2 weeks time, we will complete the pictogram after his likely partner has been involved.

If you have an example of your own, please share it with this blogger, through the COMMENTS area.  Thanks Option Solving. (NOTE: Next posting in 2 weeks: “Next step in best option for two potential business partners to start their working relationship?” Let’s have your COMMENTS or go to peter@ ileadershipsolutions.com to connect with the blogger. Also consider buying the book: “Smart Decisions: Goodbye Problems, Hello Options.”)

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What is family’s best option for disposing of in-storage piano: using Option Solving?”

Last time we explored a family’s best option for moving personal belongings out of storage before month end, but then they still had the issue of moving a rather heavy upright, Wurlitzer piano which would take 3-4 people to move. The storage space operator did suggest contacting a local piano mover, although, since it was a weekend, that person wasn’t around. So they left the piano in the storage space to find a solution before their month-end deadline.

Since they were now familiar with the option solving technique, they were able to immediately formulate the appropriate rational question as, “What is the family’s best option for disposing of their stored piano; considering they already have a piano, it looks ‘well-worn,’ it’s very heavy, the need to vacate storage space before month end, and the family is unlikely to find new owner at short notice?” There were other additional considerations, but these represented the most obvious ones rather than over-complicate things.

Now that their question was in play, they set-about formulating appropriate Yin and Yang “bookends”; so as to stimulate their intuitive thinking and establish outer limits on their options. These two bookends came out as: “Leave it there,” at one end, with, “Trash piano” at the other. Our Latest Example shows why these were unlikely options.

 

With their option solving framework now in place, they set-about figuring out at least five plausible options by plumbing their life’s experiences and intuitive thoughts. (Note: It works best to figure-out at least five options to stretch their creative thinking.)  One of their options was: “Pay for piano mover B to take away before month end (4 days time)”…  which was their Option C. Take a look at our Latest Example to see which one  you would consider in their circumstances?

 

They now slept on this overnight to provide emotional distancing and allow their minds to subconsciously mull over their chosen options. When they returned to their “pictogram” the following morning, their intuitions were ready for making their final choice.

They then sprang into action, based upon this option, while things were still fresh and they were primed to go. When I followed up with them a few days later, their piano had been disposed of accordingly.

If you have an issue example of your own, please share it with this blogger, through the COMMENTS area.  Thanks Option Solving. (NOTE: Next posting in 2 weeks: “What is best option for two potential business partners to start  a working relationship?”  We’re always interested in your COMMENTS or go to peter@ileadershipsolutions.com to connect with the blogger.)