How to find the right business partner

Posted on May 6, 2016 12:02 am

In business world, it is rare to come across a business partner who is selfless. If you are lucky, it happens once in a lifetime. The health of relationship among co founders and advisors is one of the most critical areas of technology business and also one that is often put down to chance. Collaborating with the right partners allows tapping into market-specific insights rather than speculating about what your clients wants. Capitalising on tried and tested wisdom and real world experience can seriously bolster your capabilities and expand your reach. As I have learned over the years, never take for granted the right business partners, incase you have one.But how do you identify the perfect business partner and work successfully with him or her? How should your skills and personalities match up? And what happens if it goes horribly wrong and then someone tells you to fuck yourself? In my tech industry engagements, I have learned that successful partnerships share several common ingredients that are crucial in turning a start-up from a great idea that’s poorly executed to one that is profitable and, above all, harmonious.In my view, partnerships in business can extend in multiple directions, so it’s important to remain conscious of your existing collaborators, too. The trick will be to navigate existing relationships as well as new ones.Some collaborators get tired and bow out in the pretext of being stressed and others soldier on with hope that their business idea will be the next big thing.Therefore, the capacity to line up your business goals with the needs of your clients,it is important to take an agile approach to decision making processes and execute quickly and effectively because it can make or break your attempts.

That’s why collaborating with a right business partner that can react swiftly to shifts in the market, that can scale up and down depending on your ambitions and experiment with new platforms when necessary, can set the stage for success.If the opposite happens, it will be catastrophic.Businesses are often lumbered with internal structures and processes that can prevent them from arriving at insights on their own. It’s important to remember that client’s are moving targets and partnering with the right collaborators can help you achieve a competitive edge. From leveraging market insights to gaining the skill set to seize digital opportunities, an idea business partner can play a starring role in your transformation efforts and help you build client relationships that last. If reading this and your currently in business, how did you go about finding the right business partner and how has this seen your organisation grow? Before you pick one, you need to really understand that it is like entering into a marriage.Once you enter into a partnership you’ll realise that things won’t be perfect and you will get into fights.In my understating, there’s no need to worry as that’s common. Fights are typically good because they will help you progress and move forward.Just make sure your fights aren’t filled with emotions as i have seen with some individuals who can hardly control their puberty like emotions. To me, all business partners have to be logical.Research has shown that two people have proven to be the ideal number of partners to have in a business. Beyond those numbers, I can guarantee that you will waste too much time making decisions and bickering over small things.However, when there are more partners things can still work out, but you don’t really need all of them.

I would rather if resources are available, hire people to fill the voids in the company.When it comes to getting the right business partner, never give up on looking for one.I have never heard any business founder who knew where he or she was going to find the right business partner. But there are ideal places to find partners like local networking events, technology industry events, friends , families and also ex school mates.One mistake i must admit I have made myself with deep regrets, is that I got ahead of myself by trying to get into excess trust with a former business partner. I advise that before you make anyone your partner you need to get to know them beyond their physical, background checks and their experience.Trust me, the best thieves are in suits and tie.Its my view that you don’t know someone for at least eight months you shouldn’t jump into a business partnership. There is nothing wrong with waiting as its really get to know a person in just a few months.From own experience, it takes ages to find the right business partner and as it has happened with me, you’ll pick a few bad ones along the way. But i wish to advise you that you don’t get discouraged by this because it happens to the finest in the business.For me, just like Tupac Shakur song, Keep your head up and keep on moving forward.Try to find a good business partner and your business will flourish.As one of my blud in Brisbane told me few days ago, her existing business will never be worth 198 million dollars like her past business which she managed very well in Melbourne back in early 2000s where your blogger traded his skills for a few months. This isn’t because her current business idea isn’t a good but because she doesn’t have a business partner who sees beyond mirror.

Contador Harrison