A business partner can make or break a business so it can be a tough decision to make when deciding if this is a route you should take. The million-dollar question is: is this the right route for you and should you get a partner?
Whether you should get a partner depends on the stage that your business is in! As an entrepreneur, you should form your answer through assessing factors such as your financial situation, strengths, weaknesses, and goals.
What qualities to seek out in a partner
If you come to the conclusion that getting a business partner will be of your benefit then some qualities to look for include the following:
- Adds value and expertise
- Undoubtedly trustworthy
- Great communication skills
- Rooted in their values
Remember: The journey of life isn’t about seeing how much money you can acquire, it’s about learning about yourself. You want to find someone who complements your skillset so that you can attain great enlightenment from working with them.
Now this leaves an elephant in the room that needs to be addressed. How much of your business should you give to a partner?
To hear thoughts on this question, and actions you can take to decrease chances of friction in the case of a partnership break, listen to this full session above!