Choosing a Business Partner

by FitSmallBusiness.com

Reason 1 to have a partner...

To Fill a Skill Gap

Skills your business needs...

Ability to deliver product/service.

Sales/Marketing

Financial

Management

What else do you need?

Reason 2 to have a partner...

Share the Load(Both Work and Emotional)

9 places to find business partners....

Network, Network, Network!

1

People you work with.

2

People who work w/ people you know.

3

Industry Events.

4

LinkedIn.com

5

Meetup.com

6

Techcofounder.com

7

Founderdating.com

8

Cofounderslab.com

9

8 ways to get to know a potential partner...

Work on a project together.

1

Compare values.

2

Compare business motives.

3

Speak to their references.

4

Speak to others that know them.

5

(Use LinkedIn to find them)

Do a background check.

6

Do a credit check.

7

Ask if they have a non-compete.

8

11 other questions to ask...

Do they have the skills they represented?

1

Do you have personality conflicts?

2

Do they share your passion?

3

Do they share your work ethic?

4

Do they share your vision?

5

Do their actions inspire trust?

6

Personal baggage?

7

Easy to communicate with?

8

Are they self motivated?

9

Are they willing to adapt?

10

Do you agree on exit strategy?

11

Make sure you have a partnership agreement.

(The topic of our next presentation)

For more advice on how to start and run a successful business visit us

at....

www.FitSmallBusiness.com

(Thanks for watching)