It’s time to update your files on a relationship. All year long you’ve been in a phase of review or reconsideration of an important partnership. The question phase is over, and it’s time to apply the things you’ve learned. The core question that it’s time to answer is, what are you doing in this involvement? You may decide that it’s productive; you may decide it’s not working for you at all; you may decide that the situation is workable and that you’re still committed to it. However, you need to know where you stand, and anyone else involved must know that too. This meeting must be on level ground, with all parties agreeing that the situation is fair and mutually beneficial. This is likely to require some ongoing, careful thought on your part. For example, if you decide that the situation is not perfect but is workable, then the details have to be worked out. If you decide that it’s not worth going forward, then an exit strategy must be negotiated. And if you feel strongly about moving ahead with the relationship, you still have to do some careful review of the history of your involvement so that you don’t repeat any mistakes going forward. Whatever you do, it’s clear that you need to proceed with full information and a solid commitment. There are significant challenges ahead, and you have the ability to turn them all to your advantage.
This article appears in June 2014.
