Bruce Kehoe and Bill Winingham: Keys to building a successful business partnership

After 35 years, we’ve learned a thing or two about what it takes to forge and sustain a successful business partnership. Over the decades, we have built not only a thriving legal practice but also a strong personal and professional partnership, grounded in trust, shared values, and a commitment to growth. These pillars have allowed our partnership to endure and evolve, providing a foundation for long-term success. Drawing on our decades of experience, here’s what we’ve learned about building a strong and long-term business partnership:

Shared vision and complementary strengths:
Our firm’s original vision to make a difference in significant cases has been a constant.
Bruce, with his unique background as a physical therapist, brought an unusual level of medical knowledge to our law practice, making him exceptional at evaluating and handling medical malpractice cases. He’s also a master tactician and is patient in the litigation process.
By contrast, Bill has always thrived on his extensive trial experience as a former deputy prosecutor and assistant U.S.attorney, and his appreciation for and enjoyment of interactions with clients, lawyers, and judges. Our shared vision of client-first service, together with our complementary professional strengths, created a solid and lasting foundation for success.

Defined roles and mutual trust:
Bruce has consistently served as our business manager, while Bill has been in charge of marketing and advertising. We consult each other on most decisions affecting the firm and regularly meet to discuss administrative matters.
Beyond our individual roles, complete honesty and trust are paramount. As one of our founders, Harry Wilson, used to say: “If one of us finds a nickel on the floor, we divide it with the others; we don’t keep it.”

Open and frequent communication:
A partnership is akin to a marriage; communication is key. Regularly check in with each other to ensure your goals remain aligned, that you’re both satisfied with the firm’s economics, and that you’re still heading in the same direction. People change, and maintaining fairness
to yourself and your partner prevents you from pulling in different directions.

Resilience and realistic expectations: Do not expect perfection.
There will be bad days or weeks or months, even bad years, from time to time. It’s crucial not to get too down during challenging periods or overly elated during good times.

Foster relationships:
Build and nurture strong relationships—internally and externally. We have intentionally cultivated a reliable culture with consistent leadership and low staff turnover. At the same time, we have developed strong relationships within the legal community, maintaining connections with other lawyers and judges.

Prioritize well-being:
Taking time off and getting away from the daily grind can foster a renewed appreciation for your partnership. It reminds you of the satisfaction you feel being part of something successful.

Contemplate the future of your business:
It is easy to get narrowly focused on your business and lose sight of what things might look like in the coming years. We have taken a great deal of time to ensure a proper succession plan so the firm can continue on without missing a beat.Building a successful, long-lasting business partnership begins with a shared vision and trust. Seek partners whose strengths complement your own, define roles and responsibilities, and maintain open communication. Finally, don’t neglect long-term planning, including succession and transitions, to ensure both your partnership and your business remain strong for years to come.

Kehoe and Winingham are partners at Wilson Kehoe Winingham LLC and have almost 90 years of combined legal expertise.

To explore the full story, read the original IBJ article here: https://www.ibj.com/articles/bruce-kehoe-and-bill-winingham-keys-to-building-a-successful-business-partnership

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