When you’re looking for a business partner, it’s very important for you to find the right person. If you don’t, your business may fail to ever get off the ground or have the level of success you are anticipating. This single decision could define your company’s future.
But how do you find that person? Short of just choosing someone you know, such as a friend or family member, what qualities should you look for? Even if you are choosing someone you know, what qualities should you make sure that they have first?
A strong work ethic
First off, whenever you’re starting a business, there is going to be a lot of necessary work at the beginning. You need someone with a strong work ethic, who will put in as much time and effort as you do. Ideally, the two of you should have similar levels of drive.
Skills that complement yours
While doing this work, though, it can be very helpful if your partner has different skills than you do – and especially complementary skills. There are always things that certain people do well and that others struggle with. You want someone who excels in the areas where you struggle and who may struggle in the areas where you are at your best.
A shared vision
Lastly, you and your prospective partner should talk about your vision for the company and your goals for the future. These may not be identical, but they should generally line up so that you’re always working with each other and trying to achieve the same things. Business partners who are working against each other are not going to have much success.
If you are starting a business with a partner, you also want to know how to set up a partnership agreement in advance. Having experienced legal guidance will help.