How to Prevent Business Partnership Problems

The right business partnership can accelerate the success of your business and the wrong one can put it into a death spiral.Join host Hanna Hasl-Kelchner as she welcomes Betsy Polk and Maggie Chotas, two business partners who have been in business together for 14 years. They’re Co-Presidents of The Mulberry Partners, LLC and co-authors of the book Power Through Partnership. Listen now as they share their secrets to what makes their partnership a success.WHAT YOU’LL DISCOVER ABOUT A BUSINESS PARTNERSHIP: The “what if” scenarios you should discuss with your prospective business partner up front.How to build a business partnership with a friend and not ruin the friendship.What the bank required before Betsy and Maggie could open their business account that will surprise you.How communication errors and ego can destroy a business partnership.The three questions that help you put the best interests of the business partnership first.How to test drive a business partnership before committing huge financial and emotional resources.And MUCH more.GUESTS:Betsy Polk One day while waiting for a train in the Washington DC Metro station, Betsy, an organization consultant who was working for a management consulting firm, had an epiphany.She saw with stunning clarity the kind of work she most wanted to do: helping leaders lead better. And she saw just how she wanted to do it: by co-leading her own consulting firm with a trusted, savvy friend.It all seemed like a pipe dream until 2003 when Betsy joined forces with her long-time friend, Maggie Chotas and launched The Mulberry Partners LLC, a coaching and consulting firm.From the start, it was clear to Betsy and Maggie that Mulberry would focus on helping leaders along with their teams and organizations improve communication, boost collaboration, leverage conflict and build on success.Today it’s a reality. Mulberry has developed leaders, built teams, and facilitated change processes for groups of two to 500.As a matter of fact, Betsy and Maggie have gotten so much out of leading together they even wrote a book together Power through Partnership: How Women Lead Better Together. Maggie ChotasBefore Maggie started The Mulberry Partners with Betsy, she was a camp counselor in Australia, a teacher in Philadelphia, a graduate student in Santa Fe, and a school director in North Carolina.From all these experiences... This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hannahaslkelchner.substack.com