Women's Business Blog

What Dancing With The Stars Teaches Entrepreneurs About Partnerships

Posted by Vicki Donlan on Tue, May 24, 2011 @ 09:05 AM

Entrepreneurs can learn everything they need to know about partnerships from watching Dancing With The Stars.....everything but how to end the partnership.

A great partnership is based on utilizing the strengths each person brings to the association. In the case of Hines and Kym, Hines brings a strong frame and focused discipline learned in the NFL to Kym's poetic, flowing, movement and choreography from years of dance training. Both are expert athletes working together to bring magic to the dance floor.

When starting a business with a partner, entrepreneurs must expect a partner to bring complimentary strengths. If the entrepreneur's strength is in the details of the business (it's frame - it's structure - it's plan - it's vision - it's details) then the partner must bring the flow - the operation - the getting things done. Partnerships work best when one person works on the inside of the business and the other on the outside.

Often successful small businesses work with "a good cop bad cop" model meaning that clients have a special relationship with one partner and the other partner stays out of the picture on purpose. In this scenario, when a business issue gets in the way of client relations one partner is able to rescue the situation by pointing the finger at the opther partner. Yes, this model works well - particularly for service businesses.

Entrepreneurs, particularly women entrepreneurs, must think carefully before getting into a business partnership. If the sole reason the partnership idea sounds good to you is because you don't want to be isolated as a business owner then what you need is a women's business group not a partner!

Partnerships only work when each partner brings special skills to the business. Even money is not a reason to have a partner. In the case of money, it isn't a partner but an investor you want. Investors can be paid off quickly when the business is successful. Partners are much more difficult to get rid of.

In Dancing With The Stars partners leave at the end of the season. If only it were that easy in your business.