Put it on paper
One of my takeaways from law school, my family law class in particular, was that everyone should have a prenup.
Another takeaway was that everyone should have a will.
Law student no more, I’m now a living, breathing, happily married lawyer and homeowner who has neither.
That’s not to say I don’t think still think they’re a great idea.
That’s why I don’t give people shit when all of a sudden they’re on the outs with a business partner and they don’t have any form of partnership agreement.
I’ll always ask if they have one, but if they say no (which is 80% of the time), I won’t sigh heavily or say “Well….you really should have one”.
Seriously - when someone tells you what you should have done 2 months or 2 years ago, don’t you just want to tell them to get a life? I don’t want to anger anyone, nor do I have a Time Machine, so I don’t dwell on the past.
Instead, I say something like “I’ll help you talk to your business partner and propose drafting a partnership agreement to clarify roles, responsibilities and some of the issues that have caused you grief”.
Ah, the power of the reframe.
Someone not pulling their weight? Maybe they don’t know what’s expected of them. It’s hard to evaluate performance or effort if you never clarified what each person is supposed to do.
So put it on paper.
I don’t lawyer everyone through this process. I do guide the conversation so they understand and consider their current issues and the probable future ones.
When it’s framed as an exercise to level up the business, people show up more readily and more openly.
Sometimes, this exercise resolves their issues and they come out stronger. Other times, it leads to an honest conversation about evolving ambitions, dreams or goals. Either way, it’s good for business to know whose in, whose out and what they’re each responsible for.
Strong partners propel. The silent treatment sinks.
Sink or soar? In business, and in life, it’s not a hard choice.
Sign me up for those sunny skies.
And maybe a will, too, now that I think about it.