Before the Bonding
Many potential entrepreneurs look for people with similar skills to themselves, which allows for a similar approach and to themselves, which allows for a similar approach and shared perspectives, but It does not add anything to the business. There are many types of bad business partners, from the lazy and incompetent to the dishonest and disloyal. If all you need is a hand to share the workload, hire an assistant instead. A good business partner provides their awn skills and experience that you cannot bring to their awn skills and experience that you cannot bring to the table alone, and they might provide that extra push that makes your company tempting for capital investment from VCs.
The Elusive Partner
Though most entrepreneurs start out alone, new businesses increasingly start as partnerships. Good partners share the workload, the risk, and provide considered second opinions. Where do you find this magical complementary business partner? The sources are myriad and will depend greatly on your previous experience. You may have to explore far outside your bubble through networking and cold-calling, or you may already experience. You may have to explore far outside your bubble through networking and cold-calling, or you may already through networking and cold-calling, or you may already know the perfect partner.
Experience and Networking
If you’re starting a business in a field you have little experience in, you’ll need to do a lot of networking to find a good business partner. Because you’re probably going to be approaching people with more experience than to be approaching people with more experience than yourself, you better be sure you have some good new Ideas and a solid business plan to bring to the table, and your confidence in these ideas is will help you get through.
Start making contacts at trade shows, local business association meetings, or professional associations, depending on the type of business you’re starting. Make sure you can concisely break down what your business Is, and don’t be shy about asking people who they might know that can help.
Volunteer Work and Non-Profits
Consider also looking at volunteer and nonprofit work to build up your resume and network. A wide range of energetic, confident people work at these non profit startups who might know important people or have the makings of good might know Important people or have the makings of good potential partners in their own right. Coming Into contact with a wide cross-section of people will also help you work out kinks in your business plans. Pitch your ideas to out kinks in your business plans. Pitch your ideas to willing listeners and take constructive criticism, but ignore simple naysayers
if you’ve had good relationships with bosses and other experienced business leaders in the past, consider them as potential partners and ask them for advice and contacts. It can be awkward to work with a former superior in an equal can be awkward to work with a former superior in an equal partnership, but the additional experience they bring is Invaluable.
if former mentors suggest someone else as a partner, be sure to thoroughly vet them before jumping in. Just because they are suggested by someone you trust does not mean that they are the right fit. Just because they worked well with someone you trust does not mean they’ll work well with you.
Unlike partners found through networking, former and current co-workers are easier to judge. Generally, you’ll already know If you work well together, whether they share your vision, and whether you can trust them. However, be careful that co-workers are not too similar in skills and experience. Consider people you know well, but who worked in a separate but related departments or fields. For instance, someone from marketing might partner well with a co-worker from design.
Look In Different Fields
As an entrepreneur, you may be big on vision but uninterested in the some of the nitty-gritty details of running the business A more technically minded person, such as an accountant or an engineer, could help keep you down to earth when you get lost in the cloudy possibilities of tomorrow.
On the other hand, if you’re a tinkerer with a great idea, a good managerial type could help you get out of your box They can take are of the long-terrn planning to bring your detailed idea forward into a more generalized environment.
Friends and Family
Many people avoid choosing friends and family as business partners, often for good reason, but lust because it can be a bad idea does not mean it always is.
Thanks for reading!