A Fresh Start
Reflections on Communication and Clarity in Business
Happy first week of 2025!
I wanted to write something heartfelt about how I "find myself both grateful and energized to be back in the busy-ness of it all," but let's be real, my brain is still holiday mush, and the start of the new year has been BRUTAL. But here I am, reflecting...
For those who've followed my previous posts, you know I've committed to investing more time in my own platform, sharing more of myself, my thoughts, and my experiences. While I'm still discovering the ultimate purpose of this journey, I'm genuinely enjoying the process.
So, in the spirit of keeping it real about where my head is today, I want to reflect not on the typical "how-tos" of business but on something that is very much “in the moment” for me.
You know that saying, "Good fences make good neighbors"? It turns out that applies doubly to the business world. Creating "fences" in business means establishing those clear boundaries that help everyone understand how to engage and interact effectively. And let me tell you, after the partnership drama I've witnessed over the years, these fences aren't just nice to have, they're essential for survival and the ONLY hope for a healthy partnership.
The Cold, Hard Truth About Partnerships
Before I dive into my personal experiences, let's talk numbers for a hot second (because nothing gets my point across quite like throwing some statistics at you while I'm still trying to remember how to type after the holiday break):
About 70% of business partnerships fail (yikes!)
The average partnership lasts just 3-4 years.
Close to 90% of partnership disputes involve financial disagreements.
Even looking at family businesses alone, only about 30% survive into the second generation. (Makes for some awkward or nonexistent Thanksgiving dinners 😬)
Lessons from Tatiana
Lately, I have found myself reflecting on an earlier client, Tatiana, whose insights have become foundational for my own business operations and approach. As an accountant, her deep dive into the financial mess of dissolving business partnerships has given her a front-row seat to some seriously dramatic business breakups. We're talking about family-court-level drama. Because, after all, these businesses become people’s “babies,” and so these partnerships take on a similar energy to co-parenting.
Tatiana's stance on partnerships was blunt: DON'T. But since that's not always practical, she championed something essential: clarity, communication, and solid contracts as the navigational stars in the complex universe of business collaborations.
As she poignantly put it:
"Partnerships are about complementing each other's strengths and compensating for weaknesses, but they also require clear boundaries and a mutual understanding that each party may have its own best interests at heart. The most successful partnerships are those where each partner knows exactly where they stand. Clarity isn't just beneficial; it's a necessity for survival." - Tatiana Tsoir
The 'Duh' Moments That Aren't So Obvious
Here are some partnership tips that seem obvious but are surprisingly often overlooked (speaking from a recent exhausting experience):
Get EVERYTHING in writing. Yes, even if they're your BFF since kindergarten, your sister, your husband, or your mama, documentation is your best friend. Every agreement, every expectation, even those "oh, that goes without saying" moments? Write those down too. Think of it as creating a manual for your partnership's success, not planning for its failure.
Define terms, roles, responsibilities early, because "figuring it out as we go" is a recipe for disaster. Talk through all line items, clauses, and stipulations to assure everyone understands and is in agreement on what each condition means. Future you will thank me for this level of detail, trust me.
Set clear financial expectations. Money matters need crystal clear clarity. Who's contributing what? When are payments due? What happens if someone can't meet their financial obligations? These aren't fun conversations, but they're way better than the alternative, trust me, or better yet, trust Tatiana, who's seen partnerships implode over a few hundred dollars, leading to thousands of dollars in loss for both parties all because nobody wanted to have these "awkward" conversations upfront.
Have an exit strategy. Think of it as a business prenup, not romantic, but necessary! It's not about planning to fail; it's about respecting each other enough to plan for every scenario. Plus, it's way easier to agree on exit terms when everyone still likes each other.
Regular partnership check-ins. Schedule monthly or quarterly sessions to discuss not just the numbers, but how everyone's feeling about the partnership. And here's the game-changer: consider bringing in a neutral third party or mediator, even when things are going well. Think of it as preventive maintenance for your business relationship.
Navigating Business Emotions: The Reality Check
A universal truth I've noticed, especially in business partnerships (and boy, has this season of my journey driven this point home), is that we all struggle with self-doubt and fears. Anxiety and fear creep in when you need to have a tough conversation about expectations. Totally normal.
The real difference-maker isn't just experiencing these emotions; it's how we manage them. In partnerships, you can either hide behind vague communication (my specialty circa 2018) or step up with clarity and directness. Relying on ambiguity isn't being adaptable; it's like asking your partner to walk across a moving platform every time they want to interact with you, unstable and counterproductive.
The Contract Reality Check
Here's something Tatiana taught me that will never leave me: a contract is only as clear as the people interpreting it.
Think about that a minute…
Yes, you can add all the legal jargon and safeguards you want (and you should!), but if you and your partner aren't crystal clear on what even the tiny things like "reasonable timeline" or "best efforts" actually mean in practice, when things get sticky (and they will get sticky. That's relationships), everyone's going to default to protecting their own interests. It's not being selfish; it's human nature.
The Kindness of Clarity
Working with Tatiana provided me with some really helpful business clarity and best practices. Through her, I learned that sometimes the kindest thing you can do in business is be uncomfortably clear. Do it when everyone is friendly and calm, and heads are clear.
As I sit here, wrapping up this post and my third coffee of the day (judge me all you want, I regret nothing), I can’t help reflecting on how these lessons have helped to rewire my own approach to business relationships. Every time I am doing contract discussion, I will ALWAYS prioritize the extra time for a clarity session to make sure that all parties understand the collaboration. This way of thinking has become my go-to move for pretty much everything. Managing team members, dealing with clients, hiring contractors? You know I am going to be asking for clarity EVERYWHERE.
Every time I'm tempted to skip these clarity conversations or just wing it with a "we'll figure it out later" approach, I swear I can hear Tatiana's voice in my head urging me to "be specific early on, be clear, be direct and for heaven's sake, get it in writing!”
Looking Forward (With Clear Vision, Of Course)
This year, I'm committing to learning more and helping my clients navigate their partnerships with crystal-clear communication and well-defined boundaries. No more of that "we'll figure it out later" nonsense. No more hoping problems will magically solve themselves (They won't). And absolutely no more being vague in an attempt to be accommodating or keep the peace. That ship has sailed, hit an iceberg, and sunk to the bottom of the business ocean.
Here's what I'm committing to in 2025 (and dragging my clients along for the ride):
Encouraging others to say what they mean at work (revolutionary, I know!)
Welcome those uncomfortable conversations early and often
Teaching others that clarity isn't just a nice-to-have, it's imperative for the health of the partnership
And definitely upgrading my coffee maker, because apparently all this straight talk runs on caffeine!
P.S. If you're reading this while contemplating a business partnership, first: take a deep breath. Second: grab TWO coffees (one for you, one for your potential partner) and have them read this too. Then have all those tough conversations you're already mentally pushing to "later." Yes, ALL of them. Even the one about money. Especially the one about money. And definitely the one about what happens if things go sideways.
And with that, I'm calling this caffeine-fueled, partnership-anxiety-induced brain dump complete. Because sometimes the best business advice comes from those moments when you're too tired to sugar-coat the truth and too caffeinated to hold back the real talk.
