I make it no secret that having the right business partner will make your life easier as an entrepreneur. During most podcast interviews I’m asked “How did you find your business partner?”
The short story goes I hired Steve to write ruby code on a client project. The project was falling behind because client was pushing me around on this fixed bid, nightmare project. Steve really came in and saved the day. He taught me some valuable lessons on client management and even though he was expensive, he saved me money in the long run.
That shared experience showed me Steve was caring enough to look out for my best interest, wrote good code and got the job done. Over the next few months things progressed into a equal equity partnership and a new company entity.
Looking For A PartnerIt’s really hard to pick a spouse or business partner, the qualities you look for in a business partner and spouse are similar.
Questions to ask yourself Do they have your back in the hard times?Do you value their ideas & opinions?Do they share similar perspective of success?Do they share a similar 5/20/30 year life goals?Does this person make you better?Does this person make you want to become better? The Marriage RelationshipMy advice for anyone thinking about getting married is go camping together for two weeks. During this camping trip, you’ll be getting less sleep than normal. You’ll have to work together to cook meals. You’ll get bitten by bugs, you’ll stink, you’ll see how that person handles stresses. You’ll want to pick a spouse who can be stellar when things are tough not just when things go well. If after two weeks of camping you’re still not sick of each other, congrats, get married.
The Business Partner RelationshipIf you’re looking for a business partner, work on a few projects together. Get past the pleasantries. Get into the stressful part, see how each other react and communicate. When both of you have a hard stance in an argument, what happens? Do you both try to understand the other perspective?
Going ForwardBusiness partners argue, married couples argue. It’s all about how you can listen, communicate and resolve the situation that matters.
Thanks Kathy. I learned about my partners on the job, and so far I don't think I could have been luckier. On many occasions, business partners stumble upon each other. They never really get the opportunity of learning about each other from experience. So they have to depend on rules and guidelines to keep them going.