One of the most critical decisions you’ll make concerning your business is choosing a partner. You may have a great vision, systems in place to achieve it and the best staff on the planet, but if your business partner is a mismatch for any of these, it could all come tumbling down. How do you avoid falling into this trap?
Friends?
Just because you’re buddies doesn’t mean you’ll make solid business partners. Consider your friend’s personal life. If they have major personal problems, they could jeopardize your professional relationship. Also, falling out with a friend in business is one of the quickest ways to lose the friendship.
Trial
Since this is a critical decision, begin on a trial basis before making a permanent commitment. Decide how long this trial period will last, what responsibilities you’ll both handle and whether there’s any payment. Use this time to see whether you gel as business partners.
Trust
Do you really trust the person? Would you let them handle the business money and let them in on trade secrets? If the answer is no, look for somebody else.
Values
What values does the potential candidate hold dear? They should be the same as yours. You should share the same views on business ethics to ensure your partnership runs smoothly. Such values include integrity, honesty, respect, commitment, hard work, etc.
Getting Along
As much as it’s business, you need to work with someone who’s fun to be around. It’s not about being serious and strict all the time. Yes, professionalism should be maintained but with fun being part of the equation. Partnering with someone you gel with takes the pressure off and keeps the relationship on even during disagreements.
Complementary Skills
Look for someone who will add to what you lack. No one is all round perfect. Working with someone who is skilled at what we’re not enables us to channel or energies toward our strong points.
