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How to Choose a Business Partner?
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adison55
Joined: Wed Sep 08, 2010 4:13 pm Posts: 10 Location: UK
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Re: How to Choose a Business Partner?
Hi 1. Find a Partner That Shares Your Values, Entrepreneurial Spirit, and Vision Of all the things to look for in a partner this is probably the most important. You will need to be able to communicate effectively with your partner to make decisions, set goals, and drive the business forward. If you partner with someone that is reluctant, combative, or unable to consider your viewpoint it will be harder to be successful.
2. Find a Partner That Can Bring Skills and Experience to The Business A good business partner should have skills that support and compliment your own. No single person is a master of all things business. If you have great interpersonal skills but poor business finance skills, consider a partner who understands business accounting. The more skills you and your partner bring to the business together the easier it will be to start, plan, grow, and run your business. 3. Look For a Partner Without A Lot of Personal Baggage If your partner has serious challenges in his/her personal life it may carry over into the business. It is nice to be willing to give someone a chance, but running a small business takes focus, time, and tremendous energy. If your partner is dealing with one personal crisis after another you may find yourself carrying the weight of the business. 4. Find a Partner That Can Offer Resources and Credibility to Your Business It is great to have a business partner that has financial resources, but there are other contributions a partner can bring to the business that can be just as valuable. A partner with a strong business network, industry connections, client list, or certain credentials and expertise can also increase the value of your business and improve your chances for achieving long-term success.
Thanks
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Wed Sep 08, 2010 4:31 pm |
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andey55
Joined: Thu Sep 09, 2010 7:03 pm Posts: 17 Location: Uk
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Re: How to Choose a Business Partner?
Hi 1. Find a Partner That Shares Your Values, Entrepreneurial Spirit, and Vision Of all the things to look for in a partner this is probably the most important. You will need to be able to communicate effectively with your partner to make decisions, set goals, and drive the business forward. If you partner with someone that is reluctant, combative, or unable to consider your viewpoint it will be harder to be successful.
2. Find a Partner That Can Bring Skills and Experience to The Business A good business partner should have skills that support and compliment your own. No single person is a master of all things business. If you have great interpersonal skills but poor business finance skills, consider a partner who understands business accounting. The more skills you and your partner bring to the business together the easier it will be to start, plan, grow, and run your business. 3. Look For a Partner Without A Lot of Personal Baggage If your partner has serious challenges in his/her personal life it may carry over into the business. It is nice to be willing to give someone a chance, but running a small business takes focus, time, and tremendous energy. If your partner is dealing with one personal crisis after another you may find yourself carrying the weight of the business.
Thanks
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Thu Sep 09, 2010 8:51 pm |
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dyson
Joined: Fri Sep 10, 2010 4:24 pm Posts: 24 Location: UK
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Re: How to Choose a Business Partner?
Hi Find a Partner That Can Bring Skills and Experience to The Business A good business partner should have skills that support and compliment your own. No single person is a master of all things business. If you have great interpersonal skills but poor business finance skills, consider a partner who understands business accounting. The more skills you and your partner bring to the business together the easier it will be to start, plan, grow, and run your business. . Look For a Partner Without A Lot of Personal Baggage If your partner has serious challenges in his/her personal life it may carry over into the business. It is nice to be willing to give someone a chance, but running a small business takes focus, time, and tremendous energy. If your partner is dealing with one personal crisis after another you may find yourself carrying the weight of the business.
Thanks
_________________ time billing
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Fri Sep 10, 2010 4:42 pm |
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alden
Joined: Fri Sep 10, 2010 5:21 pm Posts: 16 Location: uk
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Re: How to Choose a Business Partner?
Hi
As a small business, you probably pride yourself on being customer friendly. Even though you might work with large companies as your suppliers and partners, you go the extra mile for your customers when something goes wrong. You make your site search friendly. You put the information on it that customers need. And you stand behind what you sell. Except when that big company partner makes it impossible. Image representing Microsoft as depicted in Cr...
Image via CrunchBase And that's the problem. As a small business, you must be extremely careful about the big companies you work with, because sometimes you can't paper over their big company ways. And when that happens, you get hurt. You can lose business and you can lose your good reputation.
All this was brought to mind from a purchase we made not long ago, buying a refurbished Microsoft Xbox 360 from a small business online. Now, you might say to yourself--there's your mistake, buying some crappy refurbished model instead of a new one--but we frequently buy refurbished technology and have never had a problem. The site we purchased from was well done, clearly explained everything, provided a manufacturer's warranty, and seemed entirely reputable. I still think that small business is entirely reputable, so I am not naming them in what might appear to be a negative story.
Thanks
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Fri Sep 10, 2010 5:37 pm |
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