Over the years I have endeavored to learn and grow from many sources. One of these sources is Benjamin Franklin. His level of intelligence, his wit and his insight into business are very high.
Benjamin Franklin was extremely important in our country’s early development. His input was a key part of the process of establishing our government. He was also involved in both his own business and as a partner with other people.
At one point in time he owned his own printing business. He had a good level of business and employed many people that worked for him over a period of time. These people learned the printing business very well and many of them wanted to have their own printing business.
Benjamin Franklin sat down with each individual over a period of time and worked up a separate written agreement with each person. In the agreement Benjamin Franklin set forth, he was part owner of the business until someone bought him out over a period of time. He was helping them start their own business. In this agreement he covered every conceivable thing that could happen in a business and how it could be handled between the two of them.
Their printing business had to be located a specific number of miles from his business, so as not to be in competition with him. If there were any disagreements between Benjamin Franklin and them, the agreement covered how they would handle it.
Because everything they could think of was covered in the agreement, things went very smoothly. This is something to learn between employers, employees and everyone involved in business. To have a good understanding and agreement of what each person will do in specific situations within their business.
Benjamin Franklin had the foresight to anticipate things in advance and prepare for them. He also was helping people become successful and contributors to their communities. Foresight and helping people develop are good things to have in your business. Having an agreement and understanding with people to cover variables is important in business today.
Garry Haggart, CPC, is a management, marketing and performance development consultant and facilitator. He can be reached at 661-259-2530.