Regarding the main conditions for a successful and long-term partnership in business, about a personal path, goal, motivation, values formation at the stage of company establishing, setting priorities and the importance of always being frank and open with partners — KNESS’s co-founder Ivan Vekirchyk spoke at the opening of Successful Youth Club.
Only real stories, examples, cases, and tips, based on many years of business experience. Without stereotyped teachings, theories, and general opinions. So, we are sharing the key insights of our mentor’s speech, voiced for young Ukrainian entrepreneurs:
What is extremely important in establishing a long-term business partnership?
- Personality and values. First of all, it is worth forming the criteria that are important to you in partnership, for example, personal qualities, common worldviews, values, the vision of goals, and the same understanding of them. It is necessary to answer the question: what will the combination of qualities and skills of the participants bring to the business? What are the motives of each of the partners and whether they are clear to everyone? However, the answers to these questions may change over time, from those that were at the beginning of the partnership — the main thing here is to communicate all the time.
- Arrangements. At the start, it is important to approve the details of the partnership, to crystallize the interaction processes and areas of responsibility.
- Frankness and openness. Continuous communication and synchronization between partners is very important when running a business together. There are always and will be problems, but they can be easily solved if you talk, look for solutions together, and always listen to each other’s opinions.
- Conditions for leaving the partnership. This point is often forgotten to be discussed at the beginning of cooperation, but it is vital for a harmonious partnership.
“Business partnership has a lot of nuances, but I can say from my experience that we, together with our partners, were able to build a successful company. This became possible thanks to a common worldview, values, goals, and undisputed compliance with agreements. We always stick to our words with each other and everyone we work with. For us, the value of reputation is extremely important. All this is embedded in the principles of transparent and clean business conduct, and in the corporate culture of our company” Ivan Vekirchyk said.
It is valuable that despite everything, young Ukrainian entrepreneurs continue to be proactive, looking for opportunities to develop and implement business ideas. We are proud of our youth and at the same time motivate, by our own example, to stay on course for a joint innovative and economically sustainable future for our native country.