Business Partnership 1000X438

What do you look for in a business partner ?

E File | Posted on May 06, 2019

Starting your own business is a big job, and sometimes it takes two minds to launch and sustain your big vision. A business partner should be someone who is compatible with you and who will work toward the same goal. Here are some things to look for in a great business partner.

  1. Skill sets: Someone whose skills are different than yours will help balance the division of responsibilities and handling of business. For example, if you’re more creative, you want a partner who is better with logistics and finances.
  2. Equal investment: If you’re putting up $100k, you want someone who can put $100k. If you and your partner face the same loss, then you will share the same drive to succeed.
  3. Marriage: Starting and running a business are an investment of time, money, and attention. So are marriage and family. In any business partnership, spouses are not-so-silent partners as well. Be clear about the commitments up front and make sure everyone agrees.
  4. Commitment level: Your business partner should have the same amount of passion for a project as you. This means investing the same amount of hours with the same hustle and energy.

It’s like yin and yang.

— Towan Isom