4 Critical Things To Look For In A Business Partner


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If the responsibilities of running a business are simply too much for you to handle and you have weak spots that could hurt the business, then you may want to look for a business partner.

Here are 4 things to look for.

• Personality Type
Watch out if you both are “Uber alpha” personalities. It can lead to two very opinionated individuals not being able to resolve disagreements
• Complementary skills
You do not want too much overlap in your skill set because you may end up in conflict since you then will be engaged in the same aspects of the business. If your skills are such that you each will have your own territory to manage, chances are you’ll get along that much better.
• Resolving Disagreements
Look for someone who likes to resolve disagreements quickly. Unresolved disagreements can be very harmful to both of you and can spill over to your employees.
• Who will be chief
If neither of you can support the other as chief, then you won’t be able to work together. The company must have a leader especially if there will be employees.

Once you find the right person and they have the same goals as you do, then you are close to realizing your ideal business partner.

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Republished with author's permission from original post.

Jim Smith
YCHANGE International
Jim Smith mentors entrepreneurial start-ups and counsels small to mid sized companies that are looking to expand or are under performing or under capitalized.


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