Wednesday, April 30, 2008

Searching for Perfect Business Partners

I think most people starting their own business collaborating with their old – time friends or ex – colleagues, including me. I have a few notes needed to be share with you all regarding this issue. It’s very critical to choose the perfect business partners, from the start, because it will affect your overall business plans.

A Good Idea or Good Planning is not an issue at all. Everybody can come up with spectacular ideas or plans. The most important issue here is WHO is your future business partners? When I mean WHO here, it means you should know them inside and outside of that LUCKY PERSON who will become your future business partner.

No, I’m not talking about how’s their relationships with families or friends, I’m talking about their personality, visions, what he can do and cannot do, and how’s their attitudes towards work.

But on top of the criteria I mentioned, the most important is their visions, how can they see about an idea or plan, and where can they take it into future? Analyze if their visions are visible, and how far can their vision be? After that, match their visions with yours, is the gap too far? And can you guys rediscuss it?

A lot of business which is falling apart because of the partners are not sharing a same vision of where they can take their ideas / plans to.

I’m not saying that you should not do business with your old – time friends, it’s just you have to review if he/she eligible for the position. My point here is BUSINESS IS BUSINESS, AND FRIENDSHIP IS FRIENDSHIP. You and your future business partners should be able to differentiate this term very well, as I saw lots of old – time buddies are too easy to skip over / react to the other party if they make mistakes.

An old – time buddy can be a great business partner if they are aware of the term mentioned above, and be careful, an old – time buddy can be a NOBODY by the time they realise they don’t share a same vision with you in business.

So, guys, reviews on your friends are important if you want to ask them to become your future business partners.

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