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.”)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: