Wrong selection of associates in business

EducationWrong selection of associates in business

Date:

Choosing the wrong business associates is one of the major reasons why businesses fail these days. You may be qualified, experienced, and even have larger-than-life ideas but if you fail at choosing the right people for your jobs, then you are at doom. This is the main reason why startups fail or go into debt these days. More than the other resources, human resources is one of the most important things in today’s times. Trust should be developed when you select a person to work with you in your business.

Social media tips to grow your home-based business

If your business partner is found to be hiding information from you or being too careful while sharing all his known-trade secrets, then make sure to not have him as your partner for the long term. Sooner or later, he will ditch you for another better job opportunity. There are also chances that he will take away all your ideas and build a new business model that you won’t be able to challenge even in the court or public domain. So, it is quite essential that whoever you choose as your business associate or partner, comes from a clean background and high moral values that won’t affect your business in the long run.

PM hails IN-SPACe, ISRO for successful launch of 2 payloads of Indian startups

If you want to test a business associate or partner on how long they will remain with you, you can put them on certain tasks. You can give them a project and ask them to handle it all on their own and also give them the authority to sign papers on your behalf in your absence from the workplace for a month and then see how you will be fooled or saved. Well, I am sure you won’t give them a task that will lead you to huge business losses. In fact, you can put them on a project that even if gets shelved doesn’t hamper your reputation or your business’s name. 

Once the associate in business gives you a clean report on the task given by you, that’s when only you can start trusting them. Otherwise, no matter how many contracts you ask them to get into where the confidential information doesn’t get leaked, the papers will go in vain if the basic human nature of trust, honesty, commitment, dedication towards work, and transparency in work doesn’t reflect in their work right from the start.

You can do a background check of the associates or partners from an external company and know the reviews of their past associations. If you find any discrepancy or bad review from the past business work done by them, then you can hold on to give them important business-related work or not. You can give them mediocre work that can be done by any employee and keep only the important work to be done by you or the person whom you trust the most in your family or relatives. 

Make sure that if you find the wrong business associates at work cheating or doing any fraudulent business activity, confront them and also remove them from your workplace without any notice. Even if they give you genuine reasons for cheating, you can show them the doors for the betterment of your business’s future.

Share post:

Subscribe

Popular

More like this
Related

Decomposed body of new born baby found in Lucknow

Lucknow: The residents of Jankipuram area in Lucknow, capital...

Anand Prakash Gets Prestigious IRPRA2022 Award

New Delhi, 25 November 2022: One of the most...

Staying away from sex? Know the side effects of sexual abstinence

Sex is that feeling of human life that almost...

Former minister’s return to BJP in UP stalled

Lucknow: A former minister of Uttar Pradesh Dharam Singh...