Pick the Perfect Startup Partner

Romantic relationships are most often than not, tricky and are expected to fail if both parties cannot compromise. However, not only do romantic partnerships are like this. There are business partnerships that are most likely very much the same as romantic relationships. It requires a healthy and functional partnership between both parties to achieve success.

 

Goals cannot be reached if one does it alone.

 

Many businesses around were able to reach several milestones in such a short period of time. Wondering how did that happen? Well, many of the achievements can be owed to the business relationship built between business partners.

 

Still asking how can this be possible? Well, here are 5 tips to look at:

 

The same, if not similar work habits.

In a partnership, it is always important that workload is distributed evenly between partners. If one party is dedicated to his work and comes in at work from 6 to 9, and the other party comes in at lunch and leaves around 5, well, definitely there is going to be some serious problems.

 

One should not exert less effort than the other party involved. Establishing work hours, work expectations and responsibilities on set will definitely help reduce the possibility of feeling of inequality at work.

 

Financial and emotional stability.

It may sound very aggressive at first, but checking on the financial situation of a person you are considering as your business partner is important. Check if they will need a paycheck right away or how long they can bear during the rainy days. Someone who’s in a not so good financial situation might not be a right candidate to be your business partner.

 

Aside from being financially stable, emotional capacity should also be taken into consideration.

You will be with this person a lot of time so you should be able to tolerate and he should be able to tolerate you. Have a great time with your business partner. Take a time to breathe. A couple of drinks, perhaps, to get to know each other. As what’s mentioned earlier, business partnership is just like any other romantic partnership, know your partner.

 

Supporting skills.

You should never choose a partner who is exactly the same as you are. Your partner’s skills should never mirror or duplicate your skills. His should always support and complement yours. The ultimate objective for this is that you go find someone who can definitely help you grow and hone your talents and vice versa. You should be working together to widen expertise in the business.

 

Same vision.

It will be very difficult to work with a person who cannot see the same things as you do for your business. You both should have one goal, one mission.

 

Trust.

Trust is the very most foundation of every basic relationship. If you doubt your partner on the onset of the partnership, well, it’s better to get out now. You will want to have peace of mind during the entire duration of your partnership. Find someone whom you can share your financial secrets, share some family moments and share great ideas without worrying that it will leak to the competitor.

 

Next read… Think Twice Before Running a Startup From Home

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Article contributed by Startup Jobs Asia‘s Team.

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