Great minds think alike
Monday
Feb 16, 2009
It’s taken forever to get this post together. I’ve been busy, but I don’t think that that’s the entire reason it’s taken me so long. I’ve just struggled with getting my thoughts in order. I think getting a business partner is, for me at least, one of the most important things that can kick start your business adventures or give it a good kick in the you know where. I guess that means that you should choose carefully.
To be blunt, I’m interested in shoring up my weaknesses and sharing the load. I have plenty of flaws, just like the next person and any typical human being. As most of the readers in the early days of Ditch the Office already know me, there’s probably a few nodding heads at the moment. Anyway, let’s get into it.
Why get a partner?
These are probably pretty obvious. Remember though, no stupid questions. I think that getting a business partner is a good idea for the following reasons:
- Greater than the sum – corny and clichéd, I know, but it’s actually true when you can find someone to work with where you can come to a better result than either of your could come to individually. Two heads are better than one.
- Spread the workload – enough said really. Two pairs of hands are better than one. This is especially important if you’re working your day job at the same time.
- Spread the skills – Fill the gaps. I know I’m not an expert at everything. I want someone else who can balance my skills and weaknesses.
- Generate ideas – This is really important for me. I find that the ideas flow when you have someone to discuss them with.
- Motivation – You know how you’ll go running if someone is waiting for you? Same deal applies here.
- It’s fun to share – Yep, warm and fuzzy. Sharing the experience with someone else is more rewarding.
I wrote this piece and then decided to see if there were some other opinions out there. I particularly liked the reasons for getting a business partner here.
How to get a partner?
There’s no rocket science here. Get out there!
- Networks – Yep, speak to people about your interest. This is the way that I’ve found a few people that are interested in some self employed adventures. You’ll find them in the weirdest place – maybe even at home! Now, I’m not the world’s most effective socialite but I understand the power of networks. I’m working on getting better at networking as relationships make the world go round, not money. That just comes after (maybe).
- Entrepreneur groups – Find yourself an entrepreneur group or network. I’ve put some links at the bottom that may be of assistance.
- Perseverance – I kept looking until I found one. Pretty straightforward really. I think I’m probably annoying a lot of my friends as I’m always on the lookout for opportunities now. I’m the same with being open to trying to get stuff done with other people.
What does it mean to have one?
I’m in the throes of pursuing a few opportunities at the moment, each with a business partner or two, and I’m not going to pretend that I’ve run into all the situations. I see it this way – you’ve got to have trust and respect in any healthy relationship and this is no different. All the relationship counseling you’ve ever heard on TV with those neurotic America sitcoms applies here too.
Some other things to consider about having a partner:
- Making sure you’re both in it for the same reason or, at a minimum, for the same outcome.
- Plan for when you’re not going to be partners. I think there is something called a buy-sell agreement that is basically your exit strategy from any business endeavor with a business partner.
This is probably the area that I’m least aware of at this stage. I’m sure that I have plenty to learn. At this stage I’m only aware of some of the horror stories like bullying, unable to get your, fraud etc etc. I think that the benefits I’ve listed above are more than enough to warrant getting into it up to your neck with someone else.
And what about me?
And* good on you for asking. I’m taking the easy way out on this one and I’ll justify it with a “everyone’s different and your personal circumstances will guide your own decisions and choices”. Soft huh? If you’ve got any form of self-awareness then you should probably be able to tell if you’ll play nice with someone else. If you’re greedy, for example, you may elect to save others from the wrath of your green streak.
Resources (I spent 23 seconds on Google)
*On a side note, being the English language giant that I am, I do know from my grade 8 English education that you can’t start a sentence with “And”. I find that it’s interesting to write that way sometimes and recently I heard a great piece on the use of language by Stephen Fry (British comedian and of Fry and Lawry fame – Lawry went on to be House, you know the annoying Doctor with a chip so big on his shoulder it makes him limp?). And as they say “But I digress!”. I’m sure you’re not allowed to start a sentence with “But” either.
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