How to Find the Right Business Partner - Pros & Cons

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It partners for business

Postby Vutaxe В» 08.03.2020


We are firm believers in starting a business with someone else. Sure, Mark Zuckerberg of Facebook went for it alone, but founders like him are few and far between. Plus, Zuckerberg had a ton of help. Remember that nasty lawsuit by those brawny Harvard students? Even if you think you can cover everything, why should you if you have a co-founder who can do it better?

Something else to consider? Different management styles. This is a lot easier and more fun! Advisors, board members, and mentors are great, but there is nothing like being able to talk to someone that is going through the exact same process as you are, facing the same risks, the same problems, and the same potential rewards. Guess who can sign them? Your co-founder. And sometimes, we want to soak up a little extra time with our families.

We all have blind spots in how we manage, implement projects, and go through life. Having a co-founder gives you a peer that can point out these blind spots so you can improve. From personnel issues to how to launch a product, a co-founder will open your eyes to things you might not see. Choosing a co-founder is more important than picking a spouse. Sometimes, founders deliberately go out to find people to share the journey. Is there any difference from a business partner and a co-founder?

Well, not necessarily. Still, many people have asked us how to find business partners, whether they are official co-founders, collaborators, investors, or other early employees.

A ton of websites have cropped up to help entrepreneurs meet their matches:. It can be hard to judge whether or not a person is the right co-founder by their internet profiles, so many prefer to meet someone in person. Ask around to see if any of your connections know of awesome technical people looking for co-founders. You might try BarCamps which will allow you to meet all types of people in an informal setting. One of these people could be your future co-founder or connect you with one.

In the age of the internet, technical co-founders are difficult to come by. Everybody wants their skills and expertise. Part of finding a technical co-founder means putting yourself out there; find the meetups, events, groups and gatherings that are targeted at technical people and go. You really want to see applications or side projects the person has built on their own, even if they failed, since this shows both entrepreneurial spirit and their ability to build from start to launch.

You want to make sure your technical co-founder is respected by the greater community. See if they have a blog or a Twitter account. If you have a mentor or know another successful technical co-founder, ask them to talk to your possible candidate. This should not be an interview but an interactive conversation with someone that has experience and may be able to give you some insight.

Remember, these questions should only be asked once a candidate meets the minimum requirement of embracing the same core values as you do. Then, whittle down your pool of potential candidates using a methodology that includes these three questions.

We believe that a co-founder is an asset, but we also know there are risks and dangers to having a co-founder, too. These risks are a bit scary, but the good news is that these risks can be managed. With effective communication and a good planning process, you can address potential risks before they crop up.

Make sure you set up agreements beforehand. Agree on vesting terms, dole out responsibilities, and put it all on paper.

10 Types of Business Partners, time: 10:40
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Re: it partners for business

Postby Tojanos В» 08.03.2020

That can be a recipe for disaster, however, and it's apparently what Chase and Danielson did at first. Want to read more, make suggestions, or even be featured businews a future column? Her for was the first chief technology officer, and her brother served as director of business development. If you marry the right business your life will be partners better.

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Re: it partners for business

Postby Shasar В» 08.03.2020

Shares In today's global economy, your ideal partner may be half way around the world, from a different geography and business culture. Get SMS.

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Re: it partners for business

Postby Tum В» 08.03.2020

Company Culture. The reason for that business one person rarely has the bandwidthinterest, or skills business manage all the tasks required to build for business. Having a business partner has advantages and disadvantages. Partnering up with friends has its inherent click drawbacks: It is possible that if the business venture goes south, you may nusiness out on the friendship. An expert will know how to successfully scale with your partners partner vigilantly protect your data repository.

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Re: it partners for business

Postby Faut В» 08.03.2020

Turn off Animations. Here are several places to find the perfect partner for your business. Is there any difference from a business partner and a co-founder? Was this article helpful? If you are not a member then please register : Register.

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Re: it partners for business

Postby Tojajora В» 08.03.2020

Successful entrepreneurs have faith for their ideas, but may need someone else to put things in perspective. Your main business photo is important for potential partners. Good reasons for entering into a business partnership include:. Losing partners client and gaining a business partner may be worth considering.

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