Who is an ideal business partner?

[Setho]

The advantages of starting a business with a partner especially when you are not having the sufficient funds or the right experience is something that cannot be overemphasized. It is going to help you to share risk and there is also going to be a tendency for greater efficiency because you guys are going to be sharing ideas and the workload . This does not mean that it is every kind of partnership that you should go into because there are some that you are going to regret it instantly .

-you should always ensure that your partner is somebody that you will personally trust . Trust is the most important thing of any partnership and this person should be somebody that does not have any prior criminal record or has the tendency to do so .

-it is also important that your partner should be somebody that has some level of experience in the industry and somebody that can be able to contribute positively to the growth . This can be order through their expertise in the field or through financial provision .

-finally a business partner should be somebody who can be able to manage finances and make the right decisions at all times .

 

[btaliat]

Choosing a business partner is very difficult and all criteria must be ticked or else the business may suffer. Personally, if I don't really like the idea of having partners for business but there are some situations that always warrant having partners in business. So in inevitable situations like that, there are some criteria that one needs to consider before choosing the business partner.

We need to consider the financial strength of the person. In the first instance, people do go into partnership because of lack or insufficient money. So we need to wary and very sure the person we want to partner with is economically bouyant. This will make one to be very sure that the business won't suffer financially.

Another thing to consider is the fact that we need to be very sure that the person has the same goal and visions as us. The worst thing that will happen to human is to be in a relationship with someone that doesn't have share the same visons with him or her. So we need to make sure that we look for whom will have the same visons as urs.

Then we need to consider his physical ability to carry tasks out. There are some that have money but not mentally and even physically strong to carry our some tasks.

 

[Suba]

In my opinion, business partners are prioritized on close family and friends, because we already know their character and daily behavior to build business trust, and prioritize business partners from different educational backgrounds, if you are an expert in communication and marketing, then you can choose a partner who is an expert in the field of management, business or accounting, so that they can manage business finances well.

 

[Abigael]

Partnership is very good for those people who choose to start a business with other people. It comes with its own disadvantages and advantages. The biggest advantage being that you will have someone to contribute a good amount to start the business. Also, you will have someone to share risks with and combine expertise and decision making to overcome challenges.

The disadvantages of starting a business with a partner are there too, but they can be minimized if you choose a partner wisely. One thing to consider is that this should be someone that you know really well. Not just someone you just met and won't be able to trace them if they run away with all the money and business resources.

Another important thing you should consider is that you should share the same interest and objectives with your partner. Meaning the business you are starting is their passion too. That way, you won't end up running the business alone.

Lastly, your partner should be a professional too. They must have the business skills and knowledge that aid the success of the business. Otherwise, they will just be there as a representation of the money they contributed and not adding anything valuable to the running of the business.

 

[eldavis]

Personally I believe choosing the ideal business partner is based on an individual's choice. Each and everyone of us has our preference so the ideal business partner for me might not be the same one for you. Generally speaking, I think every ideal business partner should be someone that can be trusted. In other words, they should be men and women of integrity. An ideal business partner should also be transparent and hard working.