5 Star General Business Partners; Choosing The Right One.
Episode Transcript
Welcome to another episode of “The Rabbi Who Got Rich on Sunday”. I’m Rabbi Dave and today our focus is on a crucial aspect of entrepreneurial success – 5 star general business partners; choosing the right one.
It is the second in our four-part mini series called “Business Relationships – Hiring, Firing and Working with Business Partners”.
In the transcription of this podcast, you’ll see the link to my website where you can see more resources as well as previous episodes of my podcast.
How to find a business partner – story
Once in a bustling marketplace, there lived a wise old weaver known for crafting the most intricate and beautiful tapestries. As his reputation grew, so did his demand for apprentices. Many young weavers sought to learn the secrets of his art.
The weaver had learned through working with many apprentices that in weaving that there are five attributes to look for in the “5 star general” of apprentice weavers.
They are hunger or desire to succeed where others fail, integrity to meet a deadline, balance in his work, harmony between all the elements, and attention to details.
One day, three aspiring apprentices approached the wise weaver seeking to be trained.
All three had the desire, but the weaver, discerning as ever, decided to test their mettle.
He handed each of them a simple piece of yarn and said, “Return to me in three days with something that truly reflects your character”.
The first apprentice, eager to impress, brought back a tapestry adorned with intricate patterns and vibrant colors. The weaver, however, noted a lack of harmony and balance in the design.
The second apprentice returned with a tapestry that told a compelling story, but it lacked precision and attention to detail. The weaver appreciated the creativity, but saw room for improvement.
Finally, the third apprentice presented a tapestry that demonstrated not only skill but a deep understanding of balance, harmony, and attention to detail.
The weaver, with a twinkle in his eye, recognized a potential “5 star general” in the making.
Business partnership examples
I have had many potential business partners tell me that they are amazing salespeople, who can sell ice to an eskimo and are going to make me a lot of money.
When I hear that, I cringe. Those people are usually doomed to fail.
I love it when a business partner has had succes in other areas of life or work in the past,but comes to me asking to be coached. Along with the integrity to follow through, the humility to listen and doesn’t try to cut corners. It is also important that they are a good person that others like and respect, and has a burning desire to succeed no matter what.
When potential business partners or employees have these five character traits I have succeeded with them in reaching their goals every single time without fail.
I call these people “5 Star Generals”.
5 Star General – business partner
1. Integrity: The cornerstone of partnership
Our first point today is all about integrity. In the business world, your partner’s word should be as good as gold. It’s not just about the contracts you sign, but the commitment to doing what’s right, even when no one is watching. Look for someone who values honesty and accountability.
My first test is to see if they can keep our appointments during the interview process and complete related homework assignments between each appointment.
2. Humility: a leader who listens
Moving on to the second star in our Five Star General, we have humility. A trait often underestimated, but vital for success. A humble partner is coachable and isopen to learning and growing. In the ever-evolving landscape of business, adaptability is key. So, when choosing a partner, seek someone with the humility to listen, learn, and adapt. Humility is not a weakness, but a mark of a true leader. It’s the willingness to acknowledge that no one person has all the answers. When selecting a partner, find someone who embodies this quality, for in humility, there is strength.
Quite often I work with people who are very talented and bring serious skills to the table. I often ask them to take their head off their shoulders for 90 days and put it on a shelf.
In other words, just learn and follow my coaching for 90 days.
During those 90 days you will have a positive experience and make money. After 90 days, I’m willing to hear your new ideas on how to do things better!.
3. People power: building bridges, not walls
Now, let’s talk about “people power”.
A great business partner is not only adept at managing spreadsheets, but also at managing relationships. It’s about building bridges, not walls. Look for someone who understands the value of connections. For in the world of business, your network can be your greatest asset. It’s not just about professional competence, it’s about being able to connect with others. Encourage a “learn by doing” attitude when it comes to interpersonal skills. People who are approachable, understanding, and empathetic can contribute significantly to the positive dynamics of a team.
The superpower I’m looking for here is someone who has a circle of influence because they have mastered listening to others. When you listen to others and they see you really care they will follow you anywhere.
4. Previous success: successful track record that speaks
Moving on to our fourth star, we have “Previous Success”. Now, I don’t mean a partner who boasts about past victories. Look for someone with tangible results—a track record that speaks louder than words. Success leaves clues, and a partner with a history of triumphs is more likely to navigate the challenges that lie ahead.
Previous success is about having a proven ability to overcome hurdles.
When evaluating a potential partner, examine their track record.
Do they have a history of turning challenges into triumphs?
The proof is in the pudding, as they say.
Sometimes I work with 5 star generals who are new to business.
A track record of success does not have to be in business.
A successful teacher, athlete, and parent all have the previous success I’m looking for.
5. The “Why”: fueling the fire
Last but certainly not least, look for hunger.
Seek individuals with a “Why”. A passion that fuels their desire for success.
Besides having achieved success in previous endeavors, what matters is their hunger to succeed again, to contribute, and to grow their abilities. This hunger is what will drive them to go above and beyond, turning challenges into opportunities.
The ״Why״ is the fuel that propels us forward, especially in the face of challenges. A partner with a deep-rooted purpose will weather storms with resilience and determination.
So, when choosing a business companion, look for someone whose ״Why aligns״ with yours. This will create a synergy that will go above and beyond mere financial gain.
In the interview process I ask candidates, “What is your Why?”.
Whatever they tell me is usually just a surface answer, so I dig deeper.
“Why do you want to accomplish that? So you can do or have or feel what?” So that what?
I keep digging until I find a “why” that really means something to them and that they can’t do without.
Sometimes I need to go inthe opposite direction and ask how they would feel if they did not reach their initial “why” and dig into why they would feel that way.
In the next podcast, I will share the “Ground Rules for a Successful Business Meeting”m so you can transform meetings with your business partners from a waste of time where everyone is jockeying to make themselves look good into a very valuable and energizing experience.
For more guidance and tips on how to live your dream life, go to my website, https://therabbiwhogotrichonsunday.com to access content-rich articles and more.
You can also access a link to that web page through the show notes, if you are listening to this podcast on any of the popular podcast platforms.
Resources:
Rich on Sunday
One Response
Enjoyed this….so true
thank you