Laura Henshaw, health enthusiast, shares insights on balancing well-being and budget. The discussion covers money dilemmas, navigating business with a bestie, and practical tips for healthy eating on a budget. Topics include money wins, time perception, and reflections on simple joys. The conversation also delves into saving money, community suggestions, and the challenges of balancing business partnerships with friendships.
Effective communication is vital for friends in business to align on vision and avoid conflicts.
Having written contracts can outline financial arrangements, work expectations, and protect the business and friendship.
Understanding conflict resolution styles and creating a safe space for tough conversations is crucial for navigating disagreements.
Deep dives
Communication and Alignment
It is crucial for friends going into business together to communicate effectively and ensure they are aligned on the vision. Setting clear expectations, roles, and responsibilities from the start can help avoid misunderstandings and conflicts down the line. Constant communication and openness to change in goals or business direction can foster a successful partnership.
Financial and Interpersonal Agreements
Having written contracts and agreements in place can outline financial arrangements, work expectations, and potential outcomes for various scenarios, such as if a partner decides to leave the business. Establishing clear boundaries and communication guidelines early on can help mitigate conflicts and protect both the business and the friendship.
Navigating Conflicts and Differences
Understanding each other's conflict resolution styles and communication preferences is essential to navigating disagreements effectively. Creating a safe space for tough conversations, acknowledging differences, and working towards mutual respect can help partners address conflicts constructively and prevent misunderstandings.
Maintaining Friendship Outside of Work
Setting aside dedicated time to connect socially as friends without discussing business can help maintain the strength of the friendship amidst the challenges of running a business together. Recognizing the unique dynamics of mixing friendship and business, along with clear boundaries between personal and professional relationships, can contribute to a healthy partnership.
Seeking Feedback and Support
Regularly seeking feedback from each other and being open to constructive criticism can foster growth and improvement within the business partnership. Utilizing codes of conduct, regular check-ins, and maintaining a supportive environment can enhance the overall experience of working with a friend in a business venture.
The luminous Laura Henshaw joins Jess and Bec this Friday to chat money wins, broke tips and so much more! She shares wisdom on a Money Dilemma which is the entirely relatable problem of trying to balance your well being and budget. Plus this week's D.M is about navigating business with your bestie. How do you keep communication at the core to stay on the road to success?
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