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As everybody is looking for a way to make more money on the side of what they are currently doing, setting up a side hustle or going freelance is an option that everybody considers at some point. But when two heads are better than one and you are encountering the same people trying to do the same thing, setting up a partnership of sorts could be a very good idea. But when you find another freelancer that you have a connection with or are on the same wavelength what does it really take to ensure an effective partnership?
Understand Both Your Weaknesses
One of the most effective reasons a partnership works together well is that one person fills in the gaps of the other. But there will be times when you both have significant weaknesses that cannot be fulfilled by the other. Sometimes these things are really straightforward and could be in relation to admin or general organising. And while there are tools like templafy.com that can fill in these gaps, when you start to realise that there are major weaknesses on both sides, you’ve got to get into the habit of developing yourselves. Understanding how you both complement each other is crucial to the partnership but if there are major problems in the woodwork of your professional abilities, you have to fix these things ASAP. Being objective will help, especially if you are looking to create a partnership for your own means.
The Importance Of Collaboration
Creating a culture of collaboration is crucial and if you are looking to work with someone who you feel could serve your needs, this is the very definition of a one-sided relationship. Not every partnership will get off the ground right away but if you can start to create an open and honest forum where you are both able to criticise constructively but also learn new working methods, this will serve you well. There’s a lot to be said for collaborating effectively and on entrepreneur.com there is a guide to get you started. Learning to work together sounds incredibly obvious, but it’s surprising how many partnerships don’t.
Understand The Legalities
You start working together because you are on the same wavelength or you work together effectively, but much like a prenup, every partnership needs to have something in place should it not work out. It’s vital that you understand the legalities, or the very least, hire a lawyer to go through it with the both of you. There may be a time when it doesn’t come to fruition or you drift apart and for all the excitement you have right now it’s important to have this in place in the back of your mind should something happen further down the line. Having the legalities to dissolve a partnership as amicably as possible is vital.
Two heads are better than one but when we start to form a partnership it’s got to be for the right reasons. When two freelancers are struggling to make ends meet, a partnership can prove effective but it’s got to be for the right reasons.