Do you need a Business Partner?

People starting, or already in business often wonder if they need a business partner.
The answer will depend on two things, one of which is your temperament. Can you work alongside another person, or do you want to make all the decisions?
The other reason you may need a partner is because you have a specific ability, or skill, that is not in the entrepreneur mode. Because of this there will be certain business functions that you do not like doing, or cannot do; in this case you will more than likely need a partner.
Let me give you an example. You may be a designer who has come up a great product. But when it comes to financial matters, selling, marketing, etc., these are not your strong points. In this case a partner could be a valuable asset to you and your business.
If you decide to take on a partner you will need a person who can carry out the business functions that you are not good at. The important thing is that the partner must be able to complement your abilities. If the partner can bring this to the table it will make a perfect business partnership.
Having two people pull together in the same direction with each utilizing their own particular skills to obtain the finished job is the perfect balance. Sometimes it may require more partners depending on the complexity and size of the business.
The alternative to this is the one man band led by an entrepreneur who thrives on making decisions. A person who can motivate people, satisfies customers needs, sell, deal with suppliers, understands finance, the whole shebang.
This type of person is usually decisive, confident, full of self-belief, and lacks a degree of patience. Someone who is eager to finish the job quickly and efficiently. Hmmm, this sounds very much like me!

Be Sociable, Share!

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>