Having a business partner could make a new business startup much easier. On the other hand, partnering with the right person may prove to be a key success factor both for the business itself but also for your own happiness. Close friends or colleagues at work are usually the top candidates for partnership but how can you know they are the right ones ?
One way is to ask yourself the following 5 questions before you even consider a person for partnership :
1. To what extend do you share the same passions which are critical for the business you will set up ?
2. How similar or compatible are your key values both in business and life in general ?
3. How compatible or complementary are your inherent best skills and strengths? How will this combination be a unique advantage to the realization of your business idea ?
4. How likely is it that the two of you will manage any upcoming conflict at the best possible way for your business and your personal relationship ?
5. What is you ‘gut’ really saying about this partnership ? (If you isolate your eagerness to start a business with a convenient and available choice, deep down you know)
