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Feb 11, 2006, 13:06 #1
How do I find a business partner?
How does a designer find a smart, hardworking, honest business partner?
Has anyone here started a new media company on their own? Did you do it with a partner? What should I watch out for? Obviously, I have to find a partner who has strengths that make up for my weakness. And I have to have strengths that my partner lacks. How do I go about finding this Lennon/McCartney fit?
Any education on this would greatly be appreciated.
Feb 11, 2006, 14:14 #2
- Join Date
- May 2001
- LaGrange, Georgia
- 3 Post(s)
- 0 Thread(s)
I think looking for business partners like you look for employees is a mistake. When you go into business with someone, you should trust them implicitly. I don't think you can get that level of trust with a few interviews.
Granted, you should go into business with people who are a compliment to you - people who have strengths where you have weaknesses. However, just picking a business partner because of that is not the best idea.
My business partner and I worked together. I came to trust him, and we started talking about a business idea he had and decided to discuss the possibility of going into business together. We were casual friends, and had not known each other that long so the business partnership was more prevalent than the friendship.
I think we make excellent business partners because we a) trust each other, b) compliment each others' weaknesses and c) are not really close (friends/family) so are all about business. Don't get me wrong, we've become good friends over the past 6 years, but it's more business than friends.
Can you not start the business by yourself? Is there something you just can't do on your own or outsource? The only reasons to bring in a partner are if you can't bankroll the business or can't run it on your own.
If you find the reason you want a partner is to do some of the work, you need an employee instead. Hire someone part time or get a few subcontractors on call.
Best of luck with your venture....