Prior to founding coded{pr}, I had a horrible experience with previous business partners. H-O-R-R-I-B-L-E. After thousands of dollars in legal fees, I was able to break free and swore off ever partnering with anyone on business ventures again. Fast forward to my agency growing at a speed I could not manage entirely or keep up with by myself, and I realized I desperately needed help — the right kind of help.
After years of looking for the perfect second in command, I received a tip about an amazing executive who had left a very large, reputable agency. Having had no prior connection to this woman, I decided to send her a message on LinkedIn and wait. She responded (YAY!) and agreed to meet and hear me out. So, yes, pinging people on LinkedIn really works! Unfortunately, it was a little too late. Leaving agency life was a conscious decision she had made, and she had vowed never to return.
Instead, we began a part-time consulting relationship which became known as our “courting period.” As you can imagine with a rapidly growing agency, part-time quickly became full-time, and so I continued to drop not-so-subtle comments about her becoming officially married to the agency.
How did I get to this point? I swore never to work with partners again. How did I know she was the right one this time? Well, looking back on my situation, these were the five reasons I knew it was serendipitous, and five things I’d recommend anyone look for in a business partner:
1. They complement you. We each carried the strength and experience where the other lagged. We were very opposite in some aspects of our professional careers, but our core values were very much aligned. For example, her professional experience was heavily in fashion and VIP, and mine was entertainment and traditional media relations. She is nurturing, cool, calm and collected, and I am often the opposite — I move at a fast pace, work quickly and am straight to the point.
2. They bring a new perspective to the table. It’s important in any business to surround yourself with people who have different points of view, challenge the status quo, ask questions and aren’t afraid to disagree in a professional approach. This is what I love most about my dynamic with my partner. We rarely agree 100% on anything, but we listen to each other, hear each other out and come to a conclusion that likely blends our original opinions.
3. They help to divide and conquer. At some point in the growth of a business, delegation becomes the deciding factor of success. You can wear many hats, but you can’t properly give attention to all areas of your business without help, trust and support. Having a partner to delegate things to has been the most relieving part of my decision to bring a partner on. It’s nice to know things are being handled by someone that I trust, occasionally more than myself.
4. They help with scaling growth and retention. As the business grew, I started to feel a decline in our client retention, and that absolutely freaked me out. Client retention and happiness is the most important thing to me and my business. What I noticed was that I was being pulled in so many directions, and alone, I couldn’t be attentive to our existing accounts or dedicate myself to the time needed to successfully bring on new business. Additionally, it was important to me that whoever was in the signing meeting was also present on the accounts we signed. A partner helped me find a solution for this. Layering into point No. 3, we were able to divide and conquer who was in charge of what aspect of the business while delivering the best service possible to all of our clients, new and old.
5. They provide emotional support. They say it’s lonely at the top, and I can’t help but agree. Having someone in the trenches next to you, who understands your daily challenges, frustrations and struggles, might just be the icing on the cake for why having a business partner is a good idea. When exhaustion hits or you just need some time alone, it’s nice to not have to explain why you need the day off, and to have someone be able to step in without missing a beat. Also, a partner to whine with over wine is priceless!
In retrospect, I think going into a partnership at the very start of a business is much harder than establishing your business first and then finding the perfect match for what you’ve created. The latter seemed to work out much better for me, and I can imagine there are many more challenges at the start. It was a decision that I am still grateful for to this day. And as we grow, I continue to delegate, divide and conquer with additional team members. It is the only way to survive being a business owner, mother of two, wife and friend. Sanity is key, friends!
