Finding a Business Partner
The road of entrepreneurship can be a lonely one. One means to make the ride a possible smoother one is to find a business partner. Partners can bring to the table the skills, connections or capital you may lack. The one dilemma for small business is where can I find the partner I need? Beyond the scope of friends, family and networks, locating the ideal partner can be a difficult task.
Steve Nielsen had problems finding a partner for his radio-frequency identification (RFID) business. Nielsen knew he wasn't alone in trying to locate a partner so he created the business PartnerUp. The company is an online community to help entrepreneurs and companies find the people that they need, and allow people interested in getting involved in businesses to find those entrepreneurs and businesses. The online network allows you to post opportunities, search partners and more.
Comments
Great post. Finding business partners that are responsible and have the same vision as you do is very difficult, but possible. I find it best to be open and upfront with your expectations so people know what you’re looking for in a partner/employee. Of course, first you need to know your own strengths and weaknesses so you can find someone to compliment you. Remember, it’s not just about making money. If people enjoy working together and have the same work ethics and vision your business will thrive.
Small business is so important to the economic health of the United States. Starting a small business is not an easy undertaking, but if you have a good idea, and the perseverance to follow through, you can be extremely successful…and a little luck never hurts.
A business partner can often bring the help, expertise or finance that is needed in a small business. The selection of the right partner however is often the problem, get it wrong and you have a disaster on your hands that could close the business.
Find someone that you know and like as opposed to a total stranger.
Be sure that any form of partnership is tied up with a legal agreement covering all aspects of the partnership.
If you act in a business like manner with partnerships you have a far better chance of making them work.