Getting your business off the ground is hard work but having a wrong partner makes it even harder. A great business can only go far when you have the right partner to help it succeed.
The people that you take along with you on the journey when you start a business can have a direct and lasting impact on its success.
Therefore, identifying the right partner in business is like trying to find “the one” in dating because you’re ultimately seeking a lifelong commitment to your business.
Like any other relationship, finding a perfect match business partner is not a walk in the park, but it can be a rewarding and successful union if you take some critical steps to assess whether that person is the right fit early on.
So, what are the tips that can help me identify my perfect match for a business partner?
1. Do you complement each other skill-sets?
When looking for a business partner, you should look for someone who compliments your skill set and brings something you don’t have to the table. You know it is like a relationship, no one would want people with identical traits for a partner.
However, finding a complementary business partner isn’t just about identifying skills in the other person; rather, it requires deep self-reflection as well. Acknowledge the skills you lack and identify where you need help. It will help you to effectively identify the right skills and strengths you need in a partner.
2. Are your visions aligned from the start?
Beyond the business idea and product or service itself, it’s important to outline strategy as much as possible with a potential business partner and ensure you are on the same page from the start. You should always lay down your vision for the business.
It is important to lay all the fundamentals out openly together to identify any major disagreement. This will give you a chance to patch things out, compromise and or cut ties before committing to the partnership.
3. Do you have the right chemistry?
A successful partnership always comes down to having the right chemistry. When doing an assessment for the right partner, pay very close attention to personality similarities and differences and how being around this person makes you feel. Ask yourself, whether you enjoy being around this person outside the workplace?
Evaluate how that person deals with stress, disagreements or bad news. Do they lash out or spring into action when problem-solving?
In any business, a partner must be willing and able to deal with changes that come with the business. Besides sharing the workload, your partner is joining you on the emotional side of running a business. Seeking out complementary skill sets, establishing a shared vision and having the right chemistry will help you identify the right partner for your business that will result in mutual success.