Finding the right business partner is almost as challenging as finding the one to marry. The person needs to have experience in your field, but more importantly the right attitude that makes it easy to work with them. You need to be on the same page in order to make long-term decisions together and you have to be able to trust their loyalty when the road gets tough.
Go through this checklist and make sure you share your business with someone who can lead your company to success!
To Grow or not to Grow
Perhaps, the most important value that people you work with can live by is to have a growth mindset. People who have a fixed mindset focus on basic qualities like being inherently intelligent or being talented. They see the world in black and white and they don’t like to be challenged. It is likely that a person who thinks based on these principles would set barriers for your business because he’s ruled by his fear or because she tries to compare herself to you due to low self-esteem, which can sabotage your efforts to get to the next level.
In turn, the person with a growth mindset believes that he can learn anything and she sees a learning opportunity in every failure. They understand that, just like every business, yours will go through ups and downs as well and they motivate you to try harder and commit to your joint success. They admit their shortcomings without feeling ashamed of it but focus on the positive side of everything and educate themselves in order to grow together with your business.
The other side of the coin
One of the most important lessons we learn in life as we climb the ladder of success is that we cannot succeed alone. If you look back, you most likely see that when great opportunities showed up for you, when grand shifts happened in your career there was always someone who connected you to the right person or told you a simple advice that changed your perspective.
„Surround yourself with people that are smarter than you, empower them, your business will thrive” –Richard Branson
It is important to be clear about your own strengths and weaknesses and partner with the person who can complement your innate abilities. If you are great in seeing the big picture and setting a vision for your business then look for someone who can execute and build processes with ease. If you are someone who reacts quickly and makes prompt decisions, then partner with someone who takes the time to analyze the situation and notice risks before they become a bigger problem. You ought to swallow your pride and appreciate people who are smarter than you in order to keep growing.
The trust game
There are a lot of things that you can live with while building your business –doubting the reliability of your partner is not one of them. You need to know the person so well as you know your best friend including all his motives and fears. Don’t be afraid to get personal: people you do business with should never answer a question saying it is none of your business because, quite literally, it actually is.
The business world is changing and we are not cold businesswomen and men anymore with straight grey jackets who try to hide their personality and their emotions. The first thing you should do is to have a drink with your future partner or spend a Sunday brunch with them and get to know each other as deeply as you can. If they get defensive or they try hard to prove their self-worth to you that’s a warning sign and you should probably look for the next option. However, if they are open about their weaknesses and they transmit a positive vibe to you then you can sign the papers without losing any sleep over it.
If you’re in doubt, trust your gut feeling. It will guide you the right way.