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Education

If a discussion becomes too heated, take a break. Allow
your mind to cool down by spending time alone. When my
Establish clear boundaries. business partner and I disagree on an issue and reaching
an agreement appears impossible, our emotions can
Employees don't like being run high. What works for us is having a code word that
informs the other person that we are leaving the argument
micromanaged, and neither to regain our composure. After clearing our minds, we can
will your business partner, typically approach the conflict differently.

particularly if the person is your Leverage the trust you've established in your personal
relationship to strengthen your business relationship. Set
spouse, relative or close friend. aside time for weekly team meetings. Even if there are
only two of you, regular meetings with agendas should be
on your calendar.

Comparisons are often made between business
Have a plan partnerships and marriage, and if you run a business
with your spouse, you will undoubtedly be able to relate
This may seem obvious, but you need a written business on both counts. Mutual respect, trust, and open, honest
plan regardless of who your business partner is. If you
don't already have a business plan or are considering and frequent communication are a must in both business
partnerships and marriages.
registering as an ISO, write one yourself or hire a business
lawyer to help you. Make time for uncomfortable but Stay the course
necessary discussions about what could go wrong in your
partnership or business. Having a business plan will serve If you embark on this adventure, you will experience both
as a back-up plan if your relationship changes. highs and lows throughout your partnership. You will
have fun building your brand, selecting products that
Define your roles and responsibilities. Consider each will benefit your merchants for years to come, designing
other's strengths when assigning responsibilities. Make or building your products or POS, establishing a loyal
every effort, despite the possibility of occasional overlap, merchant base, and more.
to establish and maintain clear boundaries. You won't
always agree on everything but defining your roles early But you will also work on less enjoyable tasks (and rehiring
can help prevent conflict and power struggles. It will also your teenager after they quit may be one of them). Because
prevent your personal relationships from leading to poor there is a strong possibility you will spend more time
business practices that impact your merchants. with your business partner than with your life partner,
make sure you and your business partner can maintain a
Establish clear boundaries. Employees don't like being pleasant, productive working relationship for many years.
micromanaged, and neither will your business partner,
particularly if the person is your spouse, relative or close Managing a business with someone you know well can
friend. You and your partner should be open to each other's be challenging but extremely rewarding and special if the
ideas, but you each have the final say in your respective proper foundation is laid. By implementing some of these
areas of responsibility. proven partnership strategies, your relationship will grow
alongside your business.
Also, are you committed to running a business as a
partner? Doing anything out of obligation or expectation Natasa Cvijanovic, co-founder and CEO of Tesla Payments, has a proven
can lead to resentment. Avoid this by maintaining your track record within the payment industry of cultivating successful rela-
dedication to the company and the partnership. If your tionships with ISOs, MLSs and strategic partners. In developing national
commitment is compromised, be open about it and expect
the same honesty from them. sales channels, she provides training and coaching to sales partners to
enable them to become better business partners and advocates for their
Communicate with respect merchants, and to assist them in building portfolios producing steady
residual streams. She is also dedicated to consistently delivering high
Respect each other. When running a business with levels of professionalism, integrity, dependability and trustworthiness.
someone you have a personal connection with, your Contact her at natasa@teslapayments.com.
thoughts and emotions can become clouded or irrational.
To conduct business professionally, you must keep your
emotions in check. When you're in an emotional frame of
mind, you may be tempted to say things you don't mean,
resulting in unproductive conversations.

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