Could you work with someone you don’t like or trust?
If you are about to start an important venture, and the other party, that can help you make it happen, is skilled and experienced, but you have doubt about his/her honesty, and trustworthiness, would you still go forward with the deal?
Let’s put it this way, if that soon to be partner of yours is the only game in town and he/she has the knowledge and connections than you may have but one choice: “To do business with an untrustworthy and unlikeable new business associate”.
So how do you do it?
- Get a good attorney to write a contract agreement that spells out the responsibilities, duties and time frames expected and anticipated by each of the parties.
- Set the terms and conditions as well as commitments expected.
- Realize that no matter how good your contract agreement is, you will still miss some things, so you must also have an overall general understanding for what to do in various scenarios and the possible consequences
- Know in advance the impact of failure if you lose time, effort, reputation, momentum and most importantly money. Can you live with that if it is the worst-case scenario caused by this relationship?
- If yes then try to get some kind of guarantee, collateral, insurance or any kind of back up to mitigate your potential loss
- Make certain you also have an exit, maybe a buy out agreement in case things go very bad or awesomely great (both extremes create stress on business and personal relationships)
- Remember that no matter what you think, say, feel or do with that other party, what will matter most will be the end results and how you separate or grow from there
- It is not signing the right contract that matters as much as who signs the contract. If each party does not have an inner sense of duty and responsibility, then it is a recipe for disaster and future litigation. (A contract simply forces the parties to play by the rules)
- You must also establish clear methods for checks and balances to supervise the work in proper segments and stages in a way that allow you to audit the marketing, operation and finance at anytime
- Finally putting things in writing gets you to communicate and negotiate about some uncomfortable scenarios before they happen- So it is a vital step in terms of controlling the process and the proceeds
Conclusion: You can work with the devil provided:
- The work is legal, ethical, safe and profitable
- The Devil is under control through a set of covenants, conditions and commitments
- You have supervisory power and control over the process and outcome by having access to verify and power to make changes if needed
- You accept the risk and have ways to mitigate it through a back up plan with collateral, guarantees and insurances
Abe Lincoln once said that he is willing to work with someone he does not trust nor like, provided that person had the skills that could serve the country well.
I guess Mr. Lincoln was clear on the fact that we do not live in an ideal world.
And while ideally, we should only work with those we love, respect and admire, sometimes we must make a deal with people we do not trust or like that much.
Remember that if you don’t trust people, you make them untrustworthy. But a dose of caution and prudence is a must always.
I wish you trustworthy, likeable and competent associates in your next endeavor. Although I believe, these attribute are not found, but developed and nurtured between people, especially those embarking together on a great business venture.
Sincerely,
Cherif Medawar
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