Collaborations– matches made in heaven or hell

We all have some relative– a favorite uncle, grandma, somebody– we know as family  fountain of truisms.

“Keep it up and your face will get stuck that way.”

“Penny wise, pound foolish.” (translation: this started out as an English truism so read it: Penny wise, dollar foolish”)

“You only get out of it what you put into it.”

“What goes around comes around.”

“Good fences make good neighbors.”

As a kid, I remember scratching my head at that last one. Now after experiences of apartment living and home ownership, I TOTALLY understand. I will confess, I was a pretty literal kid, too. Most often, those fences are not chain link or stockade board or picket. They are more about (here we go again) effective, open communication and established understanding of where the do-not-cross lines are. And the closer the neighbors are, the more critical and more detailed those understanding need to be. Good fences are important in business too.

Good fences are important when one goes into direct working partnership with others–whether it’s the formation of a cooperative business or a formal financially shared partnership. Partnerships that may have been birthed over a fantastic, long friendship, common aspirations and a brewski at a backyard cookout need especially good fences. Why? Because if you don’t know each other’s do-not-cross lines, sooner or later you will cross them and you stand to loose not just a special offer for customers, but possibly a lot of money, and tragically, a like-minded peer.

Never be afraid to write down all the rules of play for a baby partnership; never be afraid to ask for signature and agreement. And what do you agree on? Well, is the partnership an equal democracy or is one person the final decision maker? How is the sales transaction system to be set up? How is each one’s share of rent to be addressed? What are repercussions if it’s late? Who decides what products are promoted when? Who takes ownership of such things as collaboration web domains and hosting? Do you market separately or with pooled funds to market both?  And every partnership will have additional, unique point to discuss and agree on.

Good fences foster the ability to work together in strength and agreement. Yes, good fences make good neighbors…successful neighbors.