Life as a Business Owner: Day 8

Pick Your Partner Like you Would Pick Your Spouse

I went to bed at 2 last night and woke up at 11. I was supposed to wake up and tutor, one of the many jobs I do to keep a roof over my head, but my student canceled. I knew I should have gotten out of bed when I originally planned, but I couldn’t make myself do it. Sleep is my true vice. It lures me in, makes me comfortable, and tells me entertaining stories. I woke up at 11 to an angry business partner—this time it was my fault. Last week, I found out that he didn’t pay 3 credit card bills on time (I usually take care of the bills but I was away for the weekend). They were late and all of them got fined and went up to a ridiculous 18% APR. I was furious.

However, this weekend, he was going away and asked me to do something for him and I
completely forgot. In my defense, I reminded him of his “chore” three times from three different channels-e-mail, text, and a phone call. He told me over the phone while I was pushing an
angry baby across a busy street in the stroller. I wasn’t able to write it down, so I completely forgot about it. I needed a reminder—that’s all I ask for. So, the day started out on a bad note… I dragged myself to work early so I could work out in the family's personal gym and I watched Oprah and learned how famous models still feel good about themselves even though they're washed up.

I came home to my business partner miraculously answering every e-mail I had written him in the past month. We fight about this all of the time—just communicate! This seems to be a difficult task for him. I think he is trying to prove to me that he is capable now that I have proved myself to be incapable because of my mishap over the weekend. It’s really like a bad marriage.

Lesson for Today: 

Upon starting the business, set specific roles for each person and make sure to set
the standard that those roles must be followed. In turn, make sure to follow them yourself every day. It is very important for everyone to have specific roles in the company
and to stick by and build on those as the business grows.

Most importantly, pick your business partner with the utmost discrepancy. Choose them like you would choose your mate for life. Once you start a business and you are in debt, you are STUCK with them. It can be like a bad marriage. You are tied to each other for as long as it takes to build the business or pay down the debt. They need to either work in the same way you do--you both communicate in the same way and are organized in the same way. OR, you need to complement each other. Maybe, one person thinks strategically and logically, while the other focuses on the creative stuff. Make sure your business partner is diligent, motivated, organized, and perserverant above all because you will need these qualities every single day in your business.