Have you been thinking you might want a business partner? This can mean different things to different people. You might be looking to partner with someone for a specific project or you may be looking for a full-time business partner. But what should you do first? How do you start your partnership and get the ball rolling?
What skills do you bring?
The first thing you need to ask yourself when you’re considering a partnership is what skills you already have. You need to be honest here about your abilities. If you always receive compliments about your copywriting and have several enthusiastic clients, then it’s safe to say that one of your skills is copywriting. On the other hand, if you suck at creating graphics, you have to be willing to admit that. You can’t pretend that you’ll be able to handle the graphics side of your project. Just as it’s important to know your strengths, it’s also important to know your weaknesses.
What skills does your business partner bring?
The next thing you need to consider is what skills your partner already has or should have. Can your partner design stunning websites or put together videos that everyone raves about? You need to know what skills your partner will be bringing in order to decide if this partnership is right for both of you. Keep in mind that you have to be honest about partner’s weaknesses, too. If you partner hates networking and connecting with prospects, then asking your partner to network and hold sales conversations might not be a good idea. Ideally, you want your partner working on the tasks where they shine (just like you should be).
How well do our skills mesh?
Are you and your partner too much alike? If you’re both introverts who want to focus on operations but hate marketing, then you will probably design great business systems. But bringing attention to that project through marketing will be tough for both of you.
When you’re partnering with someone, be careful not to choose a person that has your exact same skill set. This can be disastrous for your projects. Instead, look for a partner that has skills that are different from yours.
What skills are missing?
Even with a business partner, there can still be some gaps in your skill sets. The best option when you and your partner lack a skill is to outsource. There are a variety of websites online where you can find freelancers at affordable rates. Don’t be afraid to pay someone else to help you make your project or business the best that it can be.
Don’t overlook this in a business partner!
I must say that some partnerships are not created based on skills. Some partnerships are built because one person has the money to build the business and the other has the skills to build the business. Although we have spent most of this post talking about skill sets, I want to be sure you knew that there are other forms of partnerships as well.
Michele Scism is a decisive, driven and committed entrepreneur who loves helping business owners build thriving, leveraged businesses both online and offline.
Michele is a leading authority on business growth, an international speaker, a best-selling author, a TV personality and the Founder of DecisiveMinds.com. She is a serial entrepreneur who knows how it feels to fail miserably at business, at one time the bank actually called demanding their $1.5 million back, and also knows how it feels to sign the contract to sell your company for $9 million dollars. For business building tips visit DecisiveMinds.com