How to determine the qualities of an effective business partner

A business executive is like a father or mother. This is a man who wholeheartedly supports his child. Therefore, trusting the management of your business to another person is very difficult. But what to do if you can’t do it alone or if the business just needs an experienced person and financial injections.

You will need

Idea, business, goal

Instruction manual

1

First of all, you need to determine the current state of your business. Most often, at the initial stage of the project, a like-minded partner is needed, who will encourage, help, primarily moral. For example, there is an idea that, in the author’s opinion, will be successful, but how it really goes is not clear. In this case, a large number of doubts arise. Just at that moment, support is needed. In this situation, the partner should be close enough in spirit, familiar with the direction of doing business and fully share your ideas about the successful future of your project.

2

Further, a situation may arise when there is a partner in spirit, but when conducting business serious questions of planning, commercialization, promotion appear. Here, a partner with experience is already needed, preferably already implemented a successful project. And besides this, often there is a need for a large financial infusion. That is, there is a need for an investor. An investor may not participate in the process of managing and organizing a business, but simply invest their funds and receive a certain percentage. But here the difficulty arises: do you really need this investor who will eat part of your pie?

3

Thus, a situation of choice is formed: a like-minded partner, an investor partner, or an expert partner.

In this case, the issue can be resolved as follows:

1. You find a person from your immediate environment who will combine all 3 positions.

2. Part of the functions you take on, for example, financing, if possible.

3. Attract all three partners to the business.

4

Having decided on the partnership option, you must keep in mind that it is very difficult to conduct a business alone. There are three key positions in running a business:

1) Actually strategic management.

2) Management of financial flows.

3) Sales management.

The point is that all these positions should be headed by professionals, like-minded people and, most importantly, people who trust each other in every way.

Useful advice

Do not try to immediately fill in all the indicated niches. Constantly try, search, check. Do not rush and connect intuition. She in the business is a key success factor.