Season 1,

80: What to Consider Before Entering a Business Partnership with Jason Treu

September 13, 2017
MP3

Jason Treu is an executive coach. He helps individuals and teams maximize their performance and fulfill their leadership potential. He is the author of the best seller, Social Wealth, the how-to-guide on building professional relationships.

He is the creator of the ultimate team building game, cards against mundanity, that he debuted at TEDxWilmington in August. He also has a podcast, Executive Breakthroughs, where he interviews trailblazing executives and entrepreneurs to share their insights, breakdowns, and breakthroughs.

Time Stamped Show Notes

[1:56] When in a partnership one side evolves in another direction that means it won’t work in the long term. Or when one side does the work and the other cashes the checks.

[4:20] While researching for his TEDx speech, Jason came up with a way to create friendships and build a better teamwork that maximized performance with a game called Cards Against Mundanity.

[6:30] What the game achieved was the psychological safety ability to trust, to descend and be able to come back up again. Something not possible while keeping all relationships digital.

[10:00] Take care in the engagement with someone and understand their history and stories and their struggle. Communication is key.

[11:14] After helping two engineers flourish socially, Jason began searching for a way to help more people and found someone with a lifestyle coaching business.

[13:12] His motivation was higher than the partner’s willingness to work, he wouldn’t make the meetings with the people at larger markets.

[14:50] Doing a lot of work and not moving forward, and having a narcissistic sociopath as a partner, clouded Jason’s own judgement. Until he found out that the part ner wasn’t sending him the money he was supposed to.

[17:49] Having planned his exit, Jason sued his partner but in the end got around 10 cents to the dollar back.

[23:00] The lawsuit was more about letting the partner know that he will not get away that easily.

[24:49] You can’t appreciate the effort and what it means to put it all in until you’ve been there as an entrepreneur. Trust your gut.

[27:20] Failing Forward Segment

  • What is the bottom line reason of this failure? – “I put myself in a position where I allowed myself to be taken advantage of and I came across exactly the right person who was able to do that and manipulate me.”
  • What is the single most important lesson you learned from this? – “Believe in yourself and take the leap of faith and it has to be a leap of faith you don’t know where the landing is.”
  • What are the major ways you protect yourself from future failures? – “If I do this business and it doesn’t work out at any point am I going to be ok with not having the revenue, with not having it work out? And if my answer is yes then I’ll do it, if my answer is no then I wouldn’t go forward.”
  • Who do you turn to when you need help? – “Every situation is going to need a different person and so I have a pretty large network of people.”
  • What advice would you give to someone in a similar position? – “What’s your exit strategy and how are you going to evolve moving forward from that and have that fully planned before you have this discussion.”

[37:43] If you’re some in a director level or above, go to http://www.jasontreu.com/ to get in touch with Jason and where you can listen to his podcast Executive Breakthroughs

[40:42] Jason’s final thought: “Wherever you’re at right now get yourself in a position where you start pushing all your chips in the middle because I think you learn the most from what you’re capable of doing when you don’t have a safety net.”

Resources Mentioned:

TEDx Talk – Jason’s TEDx talk where he shares his team building game Cards Against Mundanity.

Social WealthSocial Wealth will give you the blueprint and action steps you’ve been looking for to achieve the success you desire and deserve.

To hear this episode and many more like it on your mobile device, you can subscribe to How To Lose Money via iTunes or Stitcher.

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