MODERN BUSINESS
5 things Entrepreneurs
should look for in a
potential business partner
By Alan Manly
C
hoosing a business partner
is always challenging, as
history shows us that many
partnerships end in dispute. When
considering the personal qualities of
a potential business partner the old
axiom, “Successful people surround
themselves with those smarter than
themselves” is worth bearing in
mind. Smarter people in this case
should offer value in a field different
48 ModernBusiness
September 2016
or complimentary to the team
leading entrepreneur. Beware of
recruiting an enthusiastic supporter
of your ideas or even a like-minded
associate. Some things to look out
for are:
Professionalism
To set the relationship on a
professional footing it is worth
remembering that as you are
initiating the relationship you should
have a professional approach. An up
to date business plan at the ready
sets the scene for professional
discussions on where the business
can go and what skills are required
to build the team. Reference to the
business plan as the core of your
business proposition in seeking
a partner removes the temptation
during interviews to be sidetracked