How to Choose the Right Partner For Business
Do you desire to start a business, and you don’t know how to choose a partner to start? This decision can mark your business forever, and in this article, I will give you advice on how to select a partner that will not wreck down your business objectives.
One of the big challenges many Christians encountered while trying to venture into business is the decision of who to be chosen as a partner. When I speak of Partner, I am referring to the partners who will share capital and work with you. Partners with whom you will be forced to spend many hours together and with whom there will be disagreements but also success stories.
It is known that most new entrepreneurs usually start a business with other partners at a much higher percentage than when it is a second or third business initiative. Why will it be?
Before Starting to Choose Your Partner
Before choosing your partner, ask yourself, why do I have to associate? Keep in mind that this decision is almost as crucial as deciding whom to marry.
Don’t Choose a partner out of Fear
Unfortunately, I have seen many great ventures with incompatible partners, and that the day to day for them was unbearable, and that the result was an absolute failure.
The main reason why a new entrepreneur is associated is because of FEAR.
Afraid to undertake, to make mistakes, to have no one to lean on, day by day, to not be able to with the pressure, to fail, FEAR OF BEING ALONE!
If you are looking for a partner out of fear, it is better that you adjust your plans well, and follow the path alone. You already know the saying: ” Better Only than Bad Accompanied.”
A Partner is a Resource of your Business
Yes, and it is a resource that can paralyze our business. Remember, a partner is the most expensive of all resources because it is remunerated with the results that your venture is capable of giving.
So if you have the drive, the ability, the audacity, the strength, the eggs to keep your business, don’t share it with anyone.
And I’m not saying this to you because it is terrible, but because in the future you will be paying dearly for a moment of weakness that happened several years ago, for not having more confidence in you.
There are many reasons why many Christians fail in business, and one of them is the wrong choice of the partner. So if you are aware that you need a partner to help you develop your idea, then it is time to choose the one that best fits your project, and then I give you some guidelines about it.
How to Choose a Business Partner
- Choose a Partner that Complements you
One of the most common mistakes of choosing a partner is to want to invite friends, church members, acquaintances, or family, regardless of whether they can add value to the business.
To look for a partner is to look for complementary skills. You have to look for qualities that you do not have to achieve the goal of your venture. For example, if you have a professional profile, look for a partner with a business profile.
Multidisciplinary knowledge is a first-order asset for doing business.
- What The Idea and the Business motivate you
Motivation is IMPORTANT for the success of your venture, and therefore, your partner has to be as motivated as you. Motivation looks for happiness, for ideas, for commitment, for encouragement, etc.
If your partner does not believe in the business, such a person who will leave everything when things do not go well. He will discourage you from his actions and words like, “we can’t cope with the competition; it’s better to leave it here.”
When you talk to your potential partner, ask him which strategies he would use to get the first clients, and how they would look in 3 years. This will give you excellent clues.
- Share the Same Vision
There is no successful venture today, which does not have a clear and well-defined objective, so your partner must share these objectives with you.
Otherwise, both will work for different purposes, which will cause dispersion, decreased energy, and even continuous lawsuits.
Have you ever wondered: Why do Entrepreneurs fail?
Make sure your partner is as committed as you are with a philosophy of life and work. Very different family or economic conditions can create significant tensions in the business.
- Empathy is Important
It is crucial to have as a partner someone with whom you have “chemistry.” Choose a partner with whom you can get along, with whom you have confidence.
But do not confuse “get along” with “complicity,” friendship does not guarantee that the business will work. Never should you confuse empathy with professional admiration.
- He must have an excellent Reputation
You are of no use to a partner who does not have a good reputation. Imagine an unpunctual, authoritarian partner, who likes to do wrong, vague things, etc.
” It is better to have a mediocre partner whose principles are aligned with yours than a brilliant unscrupulous guy .”
But how do I find out all this? Talking and not business precisely.
Talk to him about his previous work, ventures, where he studied, ask him what he expects from life, what is important to him, what his dreams are, what he detests …, etc.
A stable relationship between partners requires responsibility, generosity, and trust.
Finally, it would be best if you keep in mind that …
Your partner must have a significant commitment, critical, and constructive vision of the business; he must be able to see opportunities and overcome the bumps in the industry. He must know where he moves and what he must do at all times.
Your partner does not have to think the same as you or have the same capabilities, should be complementary, and should not try to impose their criteria but should support you and get along with you.
I hope this article has answered your question on How to Choose the Right Partner For Business, and if so, click on “Like” and share it with your colleagues and friends on social networks. Thank you for your input!