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-   -   What to look for in a business partner (http://www.addforums.com/forums/showthread.php?t=194345)

userguide 01-20-19 09:38 PM

What to look for in a business partner
 
Hi guys,

I got a brilliant idea to crowdsource your collective knowledge.

The problem I've been recently facing is that, after several years of reevaluating my life, I feel that I finally have a clear view on what and how to do for my dreams to come true.

OK, that is not the problem yet :)

The real problem is, I cannot do it alone and I need to carfully choose partners.

And here's the challenge: I have no idea where to start.
I feel like a restarted android with no data.

When I think about the way I evaluate people, it seems I subconsciously ask myself whether they could be a good friend of mine. That's all what it comes down to.
But that might be a total miss in this case.

What if I need partners whom I would hate in a private, nonbusiness setting?

What to look for in people you need to work hard with (and you have no whip on them like a contract you pay for or authority) ? Is there any magical formula for this ? Any quick quizz to apply ?

Don't tell me there is not, the intrnet is full of advice on how to find a romantic partner, isn't that even more trouble ?:D

TL;DR:

What 3 personal characteristics would you seek in a business partner ? (----- now that you know you have ADD with all its +s and -s )

Greyhound1 01-20-19 11:42 PM

Re: What to look for in a business partner
 
1. Honesty
2. Intelligence
3. Motivation

That would be my top 3.

stef 01-21-19 04:49 AM

Re: What to look for in a business partner
 
Don't ignore that subconscious feeling, though. They don't have to be "friends", but it would be horrible to work with someone you genuinely dislike.

also, someone who is very good at aspects where you are less comfortable.

years ago I had to work with another assistant when our firm was hosting some event,and she came down to sort out how we'd do this and she had already made a list and suggested taking care of the one thing I was dreading ( setting up airport transfers). she was extroverted and fearless and I was better with the documents and emails. it was like a dream team!

And it's nice if they have a good sense of humor.

samanthasummner 02-10-19 03:02 PM

Re: What to look for in a business partner
 
look for dignity

userguide 02-28-19 02:19 PM

Re: What to look for in a business partner
 
Quote:

Originally Posted by samanthasummner (Post 2014683)
look for dignity

Could you define it ?

And how to check in pratice if someone has it ?

InvitroCanibal 03-14-19 06:20 AM

Re: What to look for in a business partner
 
Find your customer before you find your business partner.

Go where you are needed.

Most customers are people who carry a quality you dislike.

Ex. Healthcare workers are afraid of illness.
Teachers dislike ignorance.
Artists hate uninspiring things

The problem is that uninspired people are the ones who buy art.
Ignorant people are the ones who need to be taught.
Sick people are the ones who need care.

So your ideal customer will have an attribute counter to your strengths.

Then look for a Partner who understands your ideal customer and who also has the qualities you need for your business to succeed.

Try to see if you can get along by working on a small project together. Don't commit too much of your life to strangers without testing them and getting to know them first.

Try to work with people who have strengths where you are weak but make sure that you are not just getting along because of money. You need to have a friendship or a cooperative mindset.

You need to both divide the work where it is fair and neither side wants the other person's role or responsibility.

You need respect, trust and communication.

Respect is understanding

Trust is knowing that the other person knows what you need and cares about what you need.

Communication can be broken down into 4 elements:

Simplicity
Clarity
Transparency
Proximity

Build these 4 elements into your companies culture from the very beginning.

Finally, you'll need to decide who leads the Business.

A leader is the one who defines success for whatever product you build.

It's important that you give whoever is leading the final say.

So make sure you work with someone you trust and who trusts you.

userguide 03-16-19 01:05 AM

Re: What to look for in a business partner
 
Interesting approach Inviitro, does it hold in your case ?

Could you define an ideal person for your customers, if all they have in common is a wish to reduce costs ?


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