I had made a ton of mistakes ahead before I wrote this article and yes I know what I’m talking about because I have been through many situations and people who aren’t the right partner for my businesses and they cost me so much time and resources, but because of all those lessons I am in a situation to warn someone like you who may be dreaming about the future to make it bright with the startup you are going to start, Just take a look and select your partner very cautiously because a business partner is a person whom you spend most of your time working day in and dayout.
So here are the things you need to look at :
1. Complimentary Skill Sets
Your partner should be good at something that can contribute to your business, you can’t select a person just because they are your friends, but that was the mistake I made and I don’t want you to make the same mistake. Get to know about the ways they can contribute to the business and how can they compliment the skill you lack and select your business partner based on that.
2. Shared Goals, Values, and Morals
You will enjoy working with your partner when they share your goals for the business you both are building when the values, morals, and goals align with you that will create an unbreakable bond and this can be a trust-building factor.
3. Able and willing to work hard or Invest Money
As you work for your business to make it get off the ground your partner should be willing to work his ass off, if you find your partner delegating most of their work to you they are not a right fit, to get to know this try working on a project other than a business and see if he is supporting you with the work or are you the one who is always doing the donkeys work ? Your business partner should be willing to work hard and in any case, he can’t work, he should invest a ton of money to support the operations so that you can hire someone to get the work done. In each case, he must be willing to contribute in every possible way he can, but please don’t choose a partner just for the sake of money.
4. Must have Integrity
When your partner says that something will happen and he promised that he will deliver it he will get it done no matter what period, because his word is bond and he considers integrity as his identity so as you, In business when you don’t have integrity you will lose your credibility and that will affect you in the long run.
5. Easy to communicate
You both should have a flow of conversation not only when you both discuss and plan but even when you both face hardships it is important to have communication and stay strong by supporting each other.
Trust is a thing that cannot be built in a day or two, it takes years to build and as you see a person for years you will know what they really are and with their actions and ability to get things done trust builds. So, when you select your business partners you need to see if their character and behavior are trustworthy because you are going to rely on them for many things in the coming future.
7. Worked on a project before with you or you have known their work in prior
So when you are selecting or in search of a good business partner try finding people whom you have worked with already, if you couldn’t find one, just look at some new people and look at their prior work, but above all what is most important is their character and passion towards the vision.
8. A good problem solver
A person who has a zeal to solve problems instead of taking advantage of you by putting you into a problem is always a good asset to you and your business, I have seen many snakes with smiling faces who just want to use you and your resources by offering a help that never comes, beware of such people and find the one who will be a good match.