How to find a reliable business-partner for a successful startup launch

Some entrepreneurs prefer to make business on their own. Such approach may harm not only your business but your health as well. On the contrary, cooperation with partners enables you to better preserve your nerves, have more leisure time and avoid disastrous fails, as within partnership you are not the only person making decisions. 

Choosing a “right” business partner is an essential part of the future success in business. If to take tech startups, for example, investors are more likely to fund team project rather than an individual software developer. They understand that it’s practically impossible to transform a startup into well-running business on your own. These are simple tips which will help you find a “perfect business match”. 

Be ready for a tough search. In order to find the “perfect business partner,” you have to be well-connected in professional circles. Are you following popular publics and occasionally chat with some acquaintances about business-related issues on Facebook? That’s good, but not enough. 

It’s better to attend industry-related events where you can establish connections with true professionals. In order to find the “right” business partner try to seek advice from your friends and establish networks in the offline world.

If someone is of interest for you don’t hesitate to find out more about this person. Don’t be afraid to initiate the dialogue. If you are hesitant to approach this or that person then ask other people to provide their feedbacks about personal and professional qualities of the person in question. Or just “google” him or her. Today, every one of us leaves a so-called digital footprint. When it comes to finding the “right” business partner, use all available means. 

You have to share a common vision of the future of your business, as well as interrelated values and experience with your partner. At the same time, it’s also important to put aside different cultural backgrounds and conflicting life positions in case there are any. 

Always remember that you are going to work shoulder to shoulder with this person on daily basis. Before approaching a person with any kind of business proposals, you have to study him/her thoroughly in order be able to predict your partner’s behavior. As you might have already noticed, relations with business partners are somehow similar to marriage. 

Take your time to understand whether this person suits you. The transparency and reliability of relations with your partner define the future success of your business. 

The beginning of partnership is one of the hardest periodsfor your business when you try to adjust your approaches to deal with things and learn how to work in a team. At this initial stage, it’s crucial to understand that your partner can’t read your mind and you should openly discuss all business-related issues with him or her.

In order to make the partnership mutually beneficial, you have to learn how to reach compromise and adjust your management styles. 

Open and straightforward dialogue with your partner is crucial both for strategic development and operational functioning of your business. It’s always easier to find solutions to challenges together. Anyone of you can make a mistake, so it’s quite important to have a reliable partner who will help you correct it. Everyone has to do his/her best for the development of business by investing time and experience. In order not to allow negative emotions ruin your mutually beneficial cooperation approach all challenges in a constructive wayand always prioritize business over possible interpersonal conflicts. 

Strict differentiation of roles and responsibilities between partners contributes to the most efficient usage of their time. Such distribution allows to omit overlap of functions. In the long run, it will be very beneficial for the company. 

Sometimes it’s very difficult for individual entrepreneurs to get adjust to cooperation with partners and change their business habits. Though, if you want your company to thrive, you have to learn how to cooperate. Finding ways to cooperate will never be an issue for you in case you find the “perfect business match” who will share your entrepreneurial passion.