Saturday, 16 October 2010

Choosing Your Business Partners

One of the very crucial decisions while starting a business is choosing the right business partner(s). That too it comes at the very starting point of your business! No two persons will have exactly the same ideas and same decisions. Despite this fact you can choose someone with whom you can get along with minimum clashing and get along well.
First and most important is there needs to an unwritten and unsigned bond of trust between partners! Without trust most of your energy and mind will get involved in being skeptic and keeping an eye on your partner. Ultimately your mind needs to be aloof from all this to take appropriate decisions.
It is better to find someone who is on similar ethical lines about business as you are. If you are firm to do a clean business while your partner is of kind who plays business as politics then it is the most horrible mismatch! It is very difficult to digest such things and equally difficult to mould yourself so opposite to what you are. So better don’t go for such partnering, better opt for partner with similar business goal and vision as you have.
Your partner should be a self-motivated person (so should you!). Rather than doing every activity as an assigned task he should be a person who takes initiative in doing tasks. Also your partner should be an optimistic person and who doesn’t get upset with every single bad experience. You cannot always keep on doing the job of motivating your partner and showing him a silver lining ahead.
It is also important that partner should be open to ideas and changes and not be sticking to his own point. Being adamant closes all the doors of healthy discussions and proper decision making. Ideas you might be working on might need shift of focus or modifications due to change in market trend or similar sudden successful product in market. See to it that the person you are partnering with is flexible enough, thinks out of the box and just does not just go with a set standard of thought process.
You and your partner as package should make a whole business go-getter entity. Some of the qualities will be found in one while some in other. Analyzing what is whose forte, you should divide activities. Partnering is ultimately a compromise as well as a mutual need. It remains healthy as long as trust sustains!

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