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As you know, here in LBW we have four partners: Dan, Tim, Nathaniel, and Ying. None of us are mind readers. How do we ensure we are on the same page? How do we communicate? First, talk about what you want, constantly. Not just business needs, but sometimes personal/household needs. Have an operating agreement (even if your partners are your family & friends) before things go bad, not after. Second, value each other's role on the team regardless of whether that puts you in the spotlight. For example, Nathaniel is our CFO. He handles the tedious finance and operations behind the door. No client really cares about that. He's not the face of the company. But the team literally can't survive without him. Third, have compassion and empathy towards each other. Dan said it well: just like a marriage, your business partners deserve your respect, care, and love.
By LBW Wealth Management5
66 ratings
As you know, here in LBW we have four partners: Dan, Tim, Nathaniel, and Ying. None of us are mind readers. How do we ensure we are on the same page? How do we communicate? First, talk about what you want, constantly. Not just business needs, but sometimes personal/household needs. Have an operating agreement (even if your partners are your family & friends) before things go bad, not after. Second, value each other's role on the team regardless of whether that puts you in the spotlight. For example, Nathaniel is our CFO. He handles the tedious finance and operations behind the door. No client really cares about that. He's not the face of the company. But the team literally can't survive without him. Third, have compassion and empathy towards each other. Dan said it well: just like a marriage, your business partners deserve your respect, care, and love.