When you are starting a new business, having a partner helps you build a more successful business. One partner will be more creative, while the other may have experience with numbers. Before you look for a business partner, consider finding a mentor. This person will have experience in the industry, and they will help you make decisions and talk things through. Make sure that you list your skills and the areas where you lack experience.
Finally, have a clear plan for what you need from a partner. You will do better if you understand what you are looking for, and you can be more clear when you meet them. Then, you will be ready to find a business partner.
- Search Online
The Internet is a great resource, and you can find entrepreneurs and business experts on their own websites. Check LinkedIn, FoundersNation, Meetup.com, and other similar types of sites. You can find people who have the skills you are looking for by examining their profiles and starting a conversation.
- Network in Person
You can network in person by calling old colleagues, your school, friends, and family. If you consider using a family member, be very thoughtful and make sure that they are willing and able to put the time in that is needed to start a business. Starting a business is stressful enough without adding family drama into the equation. You can also attend networking meetups in the community, where you will make connections that could lead to finding a potential partner.
- Screen Potential Partners
Consider any side hustles that a potential partner has. This can tell you a lot about their skills and experience, as well as their passions. You want to make sure that your business partner has interests and values that align with yours because you will be forced to have a close relationship.
- Consider Doing a Trial
No matter how great a potential partner appears to be, it is a good idea for both of you to start out with a trial period. Both of you will be able to see how it goes without a serious commitment, and you can decide whether or not it is going to work.
- Define Your Roles
One of the most complicated parts of a business relationship is knowing what role each person will play. You can plan what you will each be responsible for, and then make sure that you have it in writing. This will help you avoid any confusion later on.