Tips on How to Choose a Business Partner??

Re: Tips on How to Choose a Business Partner??

A good business partner should have skills that support and compliment your own. No single person is a master of all things business. If you have great interpersonal skills but poor business finance skills, consider a partner who understands business accounting. The more skills you and your partner bring to the business together the easier it will be to start, plan, grow, and run your business.

Re: Tips on How to Choose a Business Partner??

Hello
I would like to thank you all for sharing this information with us.
I think to choose a right a business partner is very important.
Because if our partner is not good it simply affect our business.
So these tips seems beneficial.

Keep sharing like this.
Thanks.

Re: Tips on How to Choose a Business Partner??

Hello
I would like to thank you all for sharing this information with us.
Keep sharing like this.
Thanks.

Re: Tips on How to Choose a Business Partner??

1. Find a Partner That Shares Your Values, Entrepreneurial Spirit, and Vision:Of all the things to look for in a partner this is probably the most important. You will need to be able to communicate effectively with your partner to make decisions, set goals, and drive the business forward.
2. Find a Partner That Can Bring Skills and Experience to The Business:A good business partner should have skills that support and compliment your own. No single person is a master of all things business.
3. Look For a Partner Without A Lot of Personal Baggage:If your partner has serious challenges in his/her personal life it may carry over into the business. It is nice to be willing to give someone a chance, but running a small business takes focus, time, and tremendous energy.
4. Find a Partner That Can Offer Resources and Credibility to Your Business:It is great to have a business partner that has financial resources, but there are other contributions a partner can bring to the business that can be just as valuable.
5. Choose a Partner That Practices Good Personal and Business Ethics:Only enter into partnerships with someone you can trust. Look for someone who values honesty and practices good personal and business ethics.

Have a nice day

Re: Tips on How to Choose a Business Partner??

There's no way to guarantee a potential business partnership will work. However, there are some things you can do that should help you avoid a repeat of the serious problems you've experienced.

To address your first question: Having had some bad experiences with partners, it's understandable that you'd consider going it alone. It's certainly simpler: As president and chief executive, you'd have the authority to make crucial decisions and shape the future of your company without having to reach agreement with another individual or a group. Of course, this can be a good thing or a bad thing, depending on whether you work better as a consensus builder or as a maverick. If you're a sole proprietor you can brainstorm with employees and advisers, but ultimately company decisions and responsibility will rest on your shoulders.

Re: Tips on How to Choose a Business Partner??

I m totally agree with you,this post is helpful for new businessman..
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Tips on How to Choose a Business Partner??

from the tips that i read in this forum , i can say that this forum is so much helpful to the businessmen and to those who will start their business..
great minds are in this forum.. 😀 😉