Matching Up With a Compatible Business Partner
- If you thought that marriage was a difficult relationship to enter into and maintain, you have obviously not experienced the turbulent waters of a business relationship. Much like a mismatched marriage, hooking up with the wrong business partner at the wrong time will lead to disastrous consequences for your business – sometimes it will be impossible to recover from them! The idea of matching up with a compatible business partners will eventually hit the majority of entrepreneurs. The need for another entrepreneur who brings to the table skills and contacts lacking and who will help to get a business either get started or climb to the next level of competitiveness cannot be discounted. Born from necessity, there is now a web presence of a company that seeks to bring business partners together. Imitators soon followed, and at this point in time there is no shortage of websites that will help the aspiring entrepreneur to hook up and partner up with others who will be able to get a business up and growing. Yet caution is still the need of the hour and just like dating sites will seek to match you up with the potential spouse of your dreams, a failure to be honest and open with your wants and needs and a lack of a good dose of gut level common sense can still set you up for failure. Here are some tips for those who are looking to match up with a compatible business partner:
- 1. Your potential business partners should have a skill set and also relevant work or business experience that complements you and your business. Enthusiasm is not enough to make the cut.
- 2. Do not settle for a partner who brings similar strengths and abilities as you already have to the table. The goal is not to double your effort but to take advantage of the much needed skills and knowledge that someone brings to your business which you lack.
- 3. Just as important as the hard skills are the soft skills. Somebody may be a whiz at computer programming, but if she or he lacks that go-getter attitude that you have, then this match will not flourish. The personality conflicts will prevent a harmonious work relationship.
- 4. Take your time when meeting a potential partner. Do not blindly jump into a business relationship but get to know the person, their goals and ambitions, and also their shortcomings.
- 5. Age works two ways. While it is tempting to hook up with a business partner who is of similar age as you, do not limit yourself! A younger person will bring an enthusiasm and zest to your business which you might be lacking – although you might not know it – while an older individual will bring life experience and quite possibly also years of business acumen which you simply have not been able to have.Understand that taking on a partner is not a guarantee for business success. Instead, it is a way of stacking the odds in your favor!