Steps to Finding the Right Business Partner

Steps to Finding the Right Business Partner

Having a partner presents a complex mix of interpersonal and business issues, and both need to be addressed for it to work.
If your primary interest is having someone to brainstorm with and to help your business move forward, there may be other options besides a partner. A small business consultant or coach may be able to fill that role. In that case you'd have the benefit of an objective dedicated mind but would still make the final decisions.

Start with your own strengths
Draft a job description for yourself first. Plan to continue doing what you do best. You'll want your partner to be someone with complementary skills and knowledge. Determine what role the partner will play in decision-making and operations. Remember a partnership does not have to be 50-50.

Have an open mind.
You may find someone who is an ideal working partner but doesn't have the money to invest. You may also find a potential investor who does not want to be a working partner. Finding the ideal working partner with money may be difficult. Be open to what makes the most sense for you and for the business.