How to find the right business partner?

[CaMsTaH]

I really prefer my best friend to be my business partner, but the thing is he doesn't have the mind set as I do. He is a typical "I gotta work hard for my money" type of person. He said he's willing to help me out but he also has full time work on the side that he needs to concentrate on and he is not gonna be able to put some money on the business. So with my question how can I find the right business partner. I don't know if I can trust someone that easily. Even though my best friend is not in the same level as I am I know i can completely trust him and I know he is willing to help out in anyway

So any pointers on how I can find a partner?


CaMsTaH

[jawzishere]

Well your friend could certainly be an option. When it comes to partnerships you typically want someone different than yourself, someone who compliments your skills not who has the same skills as you. While I don't know the details of your business it is conceivable that you could be the visionary for the business and person who manages it and he could be the one doing the work within the business.

As for your friend not being able to put any money down, as long as you can front the money that could still work. You just take 100% ownership of the company and could still choose to split the profits 50/50 or whatever.

Keep in mind though that many business partnerships have destroyed friendships.

As for finding outside partners it can be very difficult if you don't immediately know any one or have any friends that would be great options, can't provide too much insight there unfortunately.

It also may be the case that a partner is not needed. You may be able to start and run the business yourself and hire people to fill in spots in the business as needed. While that path can be more challenging it can also save a lot of headaches and problems.

Best of luck.

[katereber]

I suggest to choose the one whom you really can trust and you know better about his life and attitude.. You can choose the person related to you like member of the family or just relatives. Having a business partner is not that simple as we think, sometimes it is not a good idea and better to start business on your own..

[CaMsTaH]

Thanks everyone for the input. I've talked about it with my friend and yeah I don't think its gonna work out. He did say that he would help me but I refuse. IT just wouldn't be a good idea. Maybe once my business grows that I can't handle a one man show anymore. I'll make him an offer.



IT Director
InAdMark Inc

[katereber]

I honestly think the best thing you can do is to do it on your own (If possible). Believe me, doing this will save you a lot of headaches.

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Agree with you buddy, very true.. It is easy to start business on your own than to have a business partner.. There's a advantage and disadvantage.

[michael_terry]

Here's an article I wrote some on find the perfect business partner some time ago.

Finding a Business Partner

Hope it helps.

[katereber]

Wow, awesome... That was a great suggestion..

[allen.gao]

Hi,I also have this trouble.I want to make business by myself and creat a company.I consider my best friend to be my parter.But he do not unserstand English well,and not impantient.I also consider begin business by myself.But i am afriad it is not easy to make successful,becasue of only one person.

[katereber]

Hi,I also have this trouble.I want to make business by myself and creat a company.I consider my best friend to be my parter.But he do not unserstand English well,and not impantient.I also consider begin business by myself.But i am afriad it is not easy to make successful,becasue of only one person.

I know you can make it on your own buddy.. Set your plan then do the action.. Good luck.