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Partnerships and Business

As we enter the final stages of preparation for our Roundtable on “The Role of Partnerships in Business,” I could not help but to think about how the word partnership does little justice for the true meaning of our Roundtable.

Partnership is defined as “the state or condition of being a partner; participation; association; joint interest. (It is) an association of persons joined as partners in business.” For large corporations partnerships feel easily conceptualized, readily definable, and convincingly palpable. However, particularly for start-ups, small business, and non-profits partnerships may look and act differently, unless you have an interested capitalist or investor. In the case of the aforementioned business types, the definition of partnership becomes static, without implication of the dynamism required to have a successful venture.

According to the SBA approximately 30% of small businesses fail within the first two years, approximately 50% fail within the first five years, and only 35% survive ten years or more. The SBA can show you how to start your business and how to manage your business; however, it does not begin to describe the nuances that will help to you to succeed in business, so that you are counted in the 35% survival rate.

Learning the role of partnerships in business and having the opportunity to tangibly network with individuals who can help your business succeed are some of those “unwritten rules” of business. This is not to place blame, it is simply a fact. No one teaches us how to be parents, except by experience or by purposeful action of taking a parenting course. There are lots of unwritten rules and certainly more than one way of learning about them.

If you are in the Philadelphia Area we hope that you will join our discussion on “The Role of Partnerships in Business.”

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