There’s an old saying that says, “two heads think better than one”. And it might just be true, having a business partner means that there are two people working together as equals. Even if one person has more experience than the other, having the right partner means that two minds get to engage in the same problem so that they can reach a solution much quicker than if it was just one person thinking alone.
Yet, having a business partner can feel just like a marriage. In the beginning, everything is love and hearts flying, however, it can quickly turn into a terrible heartbreak, and end in bitter heartbreak. This is why choosing the right business partner might be one of the most important decisions you’ll make when you start your business.
Find a business partner who can complement your strengths and weaknesses
Ideally, you work with someone who has skills that support and complement your own. Before you can start, you need to do a bit of introspection. It’s important that you know and understands your weaknesses. It’s not a competition of who can do it better. Your business partner not only needs to complement your weakness with their strengths but also be able to manage your shortcomings. And you should be able to do the same for them.
Mutual respect for one another
This one might sound obvious, but you’ll be surprised how much people take respect for granted. Not only respecting your business partner a fundamental part of making a partnership work, but it is also key to the success of your business. Your partner should also value you and respect what you bring to the team.
Have common goals and interests
You need to be aligned with them. Have a clear picture of what are your goals and what expectations you both have about the future. Having an understanding of the milestones the business wants to reach, and the ideal schedule will help keep you focused. Yet, it shouldn’t be a dealbreaker if you have a few different goals as long as they complement each other, and still align with your business. But make sure you have a conversation before and have a mutual understanding.
Did you find the right partner? Connect with me on Instagram @lauraleebotsacos and tell me what else should someone keep in mind when choosing a business partner.
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