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The Seven C's: Partnership Danger Signs - The 6th C: Changing Vision

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A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.

The 6th C: Changing Vision

In order for a business to be a success the vision and mission must be reflected in all aspects of the structure, the culture and the strategy by which business is conducted. Contained in these are core values and principles set forth by the owners and leaders. If there are discrepancies between any of these, I can assure you there will be problems.

There are two parts to vision. One is the partners' vision for the business and the other is each partner's personal vision for their life.

The personal vision of each should be in sync with the vision of the business and enhance it. Obviously it is important to have clarity of both before entering the partnership and to revisit them periodically as they may change over time.

For example, Justin and Romero were partners in a chain of do-it -yourself stores for about 15 years. The vision the business fulfilled was to provide easy access to low cost supplies for homeowners in various locales who were involved in do-it-yourself home fix up projects. One-stop shopping at discounted prices.

They were quite successful and over the years added a significant number of stores to their chain. There was a 20 year age difference between the partners, and that seemed to have served them well. Justin was younger and more of a risk taker; Romero was more cautious. They respected each other's opinion and were able to create a balance in their decision making around the business. Investments of profits, adding new stores, dealing with suppliers, changing their inventory focus based on changing markets over the years were easy discussions for them.

About 15 years later Justin decided it was time to take some major risks by adding additional services such as a food and household supply division and a pharmacy. Justin was interested in a much broader base of customers. This would not only change the focus of their clientele, but also vendors, marketing strategy and ultimately taking risks previously avoided. At the same time, Justin was eagerly ready to move into this new level of business, Romero was thinking of retirement. He was becoming more cautious and did not want to forge ahead with new risks.

Obviously the changing perspective of the partners' personal goals created a dichotomy of opinion regarding the previous agreement of the purpose and vision for the business.

The resolution emerged through coaching sessions. The communication between the partners had always been open and respectful of each other. So in this situation the goal of finding a win/win resolution and a carefully crafted plan designed to end the partnership was not too difficult. A buy-out of Romero based on their original agreement with some new amendments took place and Justin found a new partner with whom he could implement his plan for the future.

In another example, Thomas and Fred were excited to be launching a new internet business. The vision for the business was to provide a unique means of networking geared to members of the fitness industry. It would enable people in that industry to find both employment and services supporting their industry. It also allowed new participants to feature their products. A particular mode of qualifying for the service would insure the trustworthiness of those benefiting from the service.

Thomas and Fred had been friends since high school and were very close. They got along well and had no doubt they were a good match as business partners. For the most part they were both in total agreement about the vision, structure and strategies needed to fulfill their plans.

In their first coaching session I asked them each how they saw their future 5 years down the line in relation to the business. Thomas envisioned a highly successful company that would achieve market value and go public in a year. By then he would be married and have a family, able to live well, vacation a lot and be quite affluent. The business would be there to provide at that level for his family for many years to come until he decided to retire. He envisioned passing the business on to his children if they wanted it.

Fred said in 5 years he saw the business as being a financial success worth many millions and at that point he would want to sell it as a public company and move on to something else. He had no intention of marrying or making a life long career out of this particular idea.

They looked at each other in amazement. Until that moment both had assumed they knew each other very well and were on the same page.

This difference in their personal life visions was certainly workable. It simply meant they now had a new dimension of knowledge about each other and that the partnership agreement between them could be written with more wisdom, minimizing surprises down the line.

Your vision is a picture of your purpose, whether it be personal or for your business. A purpose gives your life meaning. Your business also must have a purpose if it is to be a source of fulfillment and satisfaction. Partnerships are very much like marriages and likewise, the relationships between the partners need to be handled with the same detailed care. When a change in vision occurs, it can tear people away from each other. The key in partnerships as in marriage is to constantly talk openly. In a business the key to talking is to always hold the commitment to the business and the partnership as a given. When partners have maintained a close and open relationship the concern and care for each by the other is also a given. So when differences occur they can be managed in a manner that provides a win/win outcome.

The examples I used focus mainly on changes in personal vision, however, personal vision can have a direct effect on business vision and vice versa. If the vision of a business is subject to changes due to market, societal or global trends, business partners can be faced with the same challenges to reconcile competing or evolving business purpose. Communication and commitment are always keys to success.

I recently had the distinct pleasure of meeting up with Mary Jo Foley in Vancouver during TechDays as she was our guest on a special edition of the AlignIT Manager Tech Talk series. She’s put together this guest post for the blog on what you need to know as an IT manager and shared her tips on how best to keep up to date. Enjoy!

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After having the opportunity to talk with a number of IT managers in Vancouver during Tech Days in November, I came to a few realizations.

What Canadian techies want to know is not so very different from what U.S. techies do. And like their U.S. counterparts, Canadian IT professionals want to know how they can find reliable, timely information that will help them do their jobs better.

Ruth Morton, a Microsoft Tech Evangelist and host of the AlignIT IT Manager Podcast Series, is the one who got me thinking about the "how" question last week, when she asked me to give IT managers some ideas for staying abreast about what's going on at Microsoft.

The way I -- a full-time Microsoft watcher -- stay up-to-date about IT matters is a multi-pronged process:

• Make sure to watch and listen closely for information about new products and directional shifts. Remember when former Server and Tools Chief Bob Muglia said over a year ago that Microsoft's strategy with Silverlight had "shifted"? That was key for IT managers who were thinking about the extent to which to bet on Silverlight, Microsoft's rich-media plug-in and development tool. Some may have opted to consider other options, including HTML5, JavaScript and CSS, for certain new dev projects.
• Be on the look out for roadmaps. This is where Microsoft conferences and blog posts can be handy. At certain shows, Microsoft execs may be more willing to flash a roadmap slide during an in-depth talk. And every once in a while, teams decide they can share more information via blog posts. (Subscribing to favorite blogs via RSS, while no longer, "trendy," can help you make sure not to miss the occasional roadmap post.)
• Filter, filter, filter. There are more technology blogs cropping up every day. But not all blogs (or bloggers) are created equal. Look for blogs and authors who seem to be clued in and who have a good accuracy track record. While it's easy to be caught up in the latest hot rumor on TechMeme, remember that there's pressure like never before on journalists and bloggers to get clicks. Volume doesn't equal quality; rumors aren't the same as well-sourced reports.
• Don't be afraid to use social media to ask questions. It's next-to-impossible to be an expert on every new technology. But the Web is full of experts in particular domains. Ask questions using Twitter, LinkedIn, Facebook and other social-media channels and you'll quickly find a number of subject-matter experts willing to share what they know. I've had good success gathering timely information via Twitter on everything from System Center, to Windows 8. A quick Twitter exchange often leads to email address sharing, allowing more in-depth, private conversations.

Next year, 2012, is going to be one of Microsoft's biggest launch years in the company's history. If the tipsters and roadmaps are right, Microsoft will be delivering SQL Server 2012, System Center 2012, Windows 8, Office "15," Visual Studio 2012, new versions of Dynamics CRM and ERP -- and cloud complements to all of these products -- before the year is over. Keeping up with all the coming changes can be a full-time job (and is, for me). Being smart about staying current with the latest tech trends is more important than ever.

Bonus Links

• Microsoft: Our strategy with Silverlight has shifted
• Microsoft server roadmaps: A free webcast and cheat sheet 
• New System Center, SQL Server releases on tap for early 2012
• Keeping track of the Microsoft codenames

About Mary Jo

Mary Jo Foley has been a tech journalist for more than 25 years. She has worked for a variety of tech publications and Web sites, including PCWeek/eWeek, CRN and ZDNet. She is the editor of the "All About Microsoft" blog on ZDNet, and the author of the book "Microsoft 2.0: How Microsoft Plans to Stay Relevant in the Post-Gates Era" (John Wiley & Sons). She also is the co-host of the Windows Weekly show on the TWiT network and a frequent commentator and speaker on all things Microsoft-related on TV, radio, podcasts and at industry events.

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