Home – New Forums Marketing mastery How would you go about finding a business partner?

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  • #986988
    Beany
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    Hello everyone,

    So here is the question I have for you today,

    I have some great technical skills but feel that I lack a lot of “business savvy” aka, sales & marketing skills.

    I would love to be in the position where I could find a fantastic business partner, that is passionate about online technologies and has relevant business experience in this field.

    How do you go about finding someone like that? Vetting them, and making sure they can really contribute to my business?

    Also, do you think people would be interested in doing this perhaps just on a project basis?

    For example, if I have a great idea for a realestate related web application or an HR application, should I, could I find a partner who just specializes in that domain to handle that?

    Advice and input greatly appreciated.

    #1160527
    Y LearnMarketing
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    Not sure which is harder, have a successful business or find a mediocre business partner.

    #1160528
    AngusP
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    • Total posts: 53
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    Tread carefully!

    I’m sure you can use this site to find a suitable partner but once you’ve done so and established some basic compatability, I strongly recommend the two (or more) of you engage a lawyer to produce a partnership agreement. The main point is to discuss all the ‘what ifs’ before they happen.

    I had a happy business partnership for 5 years and the doc helped somewhat, but the discussions that the doc created caused were critical.

    Cheers

    Angus Pryor
    http://www.galwijihomestead.com
    http://www.mysteryshoppingguide.com.au

    #1160529
    wink5y
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    its pretty smart of you to come up with the conclusion that you could use a business partner. My business partner and i both make up each others weaknesses for each others strengths. I think the biggest thing that you need to take into consideration is human emotion, ego and a persons need to feel important. Below is a quote by Dale Carnegie that i have experienced to be true on many occasions spanning over many people.

    “When dealing with people, let us remember we are not dealing with creatures of logic. We are dealing with creatures of emotion, creatures bristling with prejudices and motivated by pride and vanity.”

    My partner and i both have our differences, no 2 people in the world are EXACTLY the same, however, when our opinions differ we are always able to sit down and lay down the logic of each persons strategy, idea or direction. We take out the “my idea and your idea” and look at whats best for the company and keep that as the sole priority. We put together pro and con list, and in most cases can get the strengths of each persons ideas and opinions to form an even better strategy than we ever could have as individuals. This is the strength in master minding, HOWEVER, this will fall and crumble if 2 or more individuals cannot deal with one another in a mature, calm and calculated manner.

    The the upside to being the one and only big baller shot caller is that you do what you believe is best without needing to consult with anybody (unless you have investors and board members). This is great if you have great experience or atleast know as much as one can possibly know in order to succeed in your respective field.

    I think its great you can take a step back and look at yourself in a manner which you are currently doing, seeing things in yourself which are not your strongest qualities is a strength in and of itself because it leads to the thought of you knowing you need to gain a business partner will make your company a stronger one from day 1 rather than having holes and inconsistencies throughout your company.

    My partner is somebody i grew up with since a young age so i didn’t really need to look very hard, so in terms of finding one, i cannot say unfortunately. But everything i have mentioned above is what has led to our great partnership the last 5 years and growing. We are now even close friends because of business, it feels as though we’ve been through battle after battle together.

    #1160530
    wink5y
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    In addition, the main point i was trying to get across in my last post is what Angus said.
    “Tread carefully!”

    There are a lot of partnership stories out there in which a bad partnership ended up in a failed business. Take a look at the situation that happened with Apple a while back, one of the most recognisable companies in the world almost went bankrupt because of a pairing decision that didn’t work well. Starting your own company comes with enough challenges as it is, don’t rush into anything and become another statistic.

    #1160531
    iWebDev
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    • Total posts: 23
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    Hi Beany,

    Finding a business partner is hard, its just like dating. Some you get for a good time and not a long time and others you get for a long time and not a good time. Networking with like minded people would be a good place to start. Meet up has a number of events around the Sydney area that might help.

    A starting point would be to work out your business plan, work out what you can bring to the table and what things you’re missing. Make a list of things you would like a business partner to bring to the business.

    A key to a good partnership would be finding someone that is excited about the business idea and not just how much money they could make from being in the business.

    If you’d like to chat more feel free to email [email protected]

    Thanks

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