Finding a business partner who believes in your idea and who you can work well with can be difficult. Here are some tips on where and how to find a good one
Coworkers. Coworkers are a great start to finding a business partner, especially if your idea already fits into the industry you work in. You already know these people in a working capacity and, importantly, how they work with you.
Find the right friend. They say you should never enter into business with a friend, but whoever said that just didn’t have the right friends. Remember, if it goes south, it may take your friendship with you, so set some ground rules.
Network. Attend business or networking events in the industry you are in and see if you can pitch your idea to a possible business partner. Try starting with a professional association.
Keep it in the family. Similar to going into business with friends, this is a high-risk, high-reward option. Your family members are more likely to have similar values, but it may make the holidays awkward if the venture goes south.
Opposites attract. Finding someone to run a business with requires a lot of the same give and take. You don’t want two ideas people with bad organizational skills. Find someone who can do what you can’t so you have a recipe for success.
Define the relationship. When entering into business with anyone, it’s important to make sure you’re both clear on your business plan, your responsibilities and what to do if the venture fails.