July 5, 2010
Are you in need of a trustworthy business partner, which can help you be more efficient and grow you company? Everybody is, but not everybody knows how to choose the right one for him or her.
The reasons for having a business partner are quite obvious: you have more manpower, you can divide tasks and focus on your own ones, you will both have more ideas, you will be more motivated and probably most importantly you will increase your network, which can mean a lot more clients for your business.
A lot of people think a business partnership is like a marriage. I say it’s a little bit harder. You firstly have to make sure that you both have the same values and common goals. In few words, that you are chasing the same thing. This can cause broke partnerships even more than different personalities. Actually, a lot of business partners have completely different personalities but this helps them maintain a balance.
Do you have the same expectation and the same commitment level? Expectations are actually part of the same specific goal but you should analyze the commitment level of your partner long before you actually start a business together. Different commitment levels can lead to conflicts and arguments and you definitely don’t want that.
Look for a business partner with greater experience and a stronger financial position that you. This way he will be able to lend venture capital to the company and help it grow. There are a lot of business partners wanted as a private investor for the company but if you are not careful this can be a great disadvantage for you in the case of a conflict. More money and experience usually means more power and more power always wins the case.
Now that you know what to look for click here to locate a business partner or an investor interested in investing in company in the same development stage as yours.