Comments on: How to Find a Great Business Partner

By: seo specialist

seo specialist — Fri, 18 Jun 2010 10:36:20 +0000

Seems interesting, but its not always a good idea to make friend as a business partner. However if both friend are into the same business and respect each other equally then it doesnt matter.

By: Peter Chee

Peter Chee — Fri, 15 Jan 2010 00:39:45 +0000

I found that when thinking about partnering up with someone, that you talk about all the hard questions at the beginning. What if it doesn’t work out how will you sort that out? I value relationships too much to want to put things like friendship in jeopardy. Has anyone ever done this (kind of like writing divorce papers ahead of time) and was the out come smooth?

By: Meaghan

Meaghan — Thu, 14 Jan 2010 00:05:51 +0000

I would avoid family. Sometimes things can get very tricky when you mix your family life with your work life. As great as it seems in theory, working with a family member is very difficult and can cause stress in your out-of-work life.

By: Carlo D'urso

Carlo D'urso — Sat, 21 Nov 2009 21:55:37 +0000

I consider the comparison with a marriage a key concept when looking for a business relationship, since it must have strong foundations in order to be strong and lasting.
As I described in my article, http://blog.objetivonegocio.com/2009/08/busqueda-socio/, it’s very important to seek for traits in a potential partner that are a weakness in oneself, thus to compensate skills.

Finally, it’s essential to test your partner prior to start any venture with him/her. One way to do it is described in this article which is actually a passage from the Babylonian Talmud: http://www.theglobeandmail.com/report-on-business/article831063.ece

Regards.

By: SEO Mumbai

SEO Mumbai — Thu, 19 Nov 2009 17:55:00 +0000

Nice post. I totally agree that best business partners can be found among close friends.

By: Vivek Krishnan

Vivek Krishnan — Tue, 17 Nov 2009 14:13:37 +0000

Timely post Young Entrepreneur! I can really use this post right now. I think finding business partners can be more difficult than catching an ideal bride for yourself…(:P).

I really wish one did not have to be so assiduous to find a business partner!

By: geode

geode — Tue, 17 Nov 2009 03:40:12 +0000

A 50-50 partnership is a recipe for disaster – don’t go there! The best partners I’ve had were those with whom I’ve worked before. Barring that luxury, seek out someone who (a) fits your vision of the company culture and embraces it, and (b) agrees 100% with your (and their own) plans for exiting the company in the future. Of course, you need to find complementary skills and experiences and a contact network that enhances your own.

By: Beth Andrus

Beth Andrus — Mon, 16 Nov 2009 23:49:18 +0000

I’m so glad you put the “seek legal advice” part in there. And while looking for the perfect partner, maybe you can get a little help from a virtual assistant for temporary admin help, or someone with the qualifications to manage a single project so you have time to breathe. But no matter how you get help, you are so right, do it before you get burned out.

By: Suzanne

Suzanne — Mon, 16 Nov 2009 22:04:20 +0000

Thanks for a great post! I totally agree that looking at a partnership as though it were a marriage is a good idea. It seems like the best results come from strong partnerships that know how to combine the strengths of each person.

For example, I’m detail-oriented and my partner is a big picture person. We work well, very naturally, together.

I’ve written about this topic on my blog: http://www.online-business-cookbook.com/are-you-a-good-fit-for-a-diy-boss

By: John Paul

John Paul — Mon, 16 Nov 2009 13:05:36 +0000

Finding a good reliable biz partner is very hard.. I have had 2 seperate biz partners on different projects, one worked out great, one was a lazy sob..lol

Wish I had this post to help back then