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Don't be afraid to ask - Approaches to find a business partner

posted on Friday, March 09, 2007 06:10 PM

Alot of ideas never take off because people can't find the right team members, whilst alot of people who have great skills and fancy being self-employed never set up a business because they can't find the great idea! So how can you marry the two together?
I am always getting asked how to find a business partner?
Before you embark on the journey, think about what you'd be looking for in a busines partner...it can't be just about combatting loneliness!..it's got to be about complementary skills sets and values to make it work so have a clear idea in your mind! So how do you find one...

Well there a few approaches you can take...


1. Face to Face Networking is one of the best ways of finding a business partner - it's like dating, if you meet someone face to face you'll know if you hit it off straight away. You'll explore ideas, get into what your both interested in, and talk business all night, explore ways to work together and then decide to merge skills or ideas...and it's love! ...well at least until you've had an argument and the honeymoon period is over. It's like a marriage you have to work at business relationships to!

2. Head Hunting - If you need specific expertise for a business, it could be of value headhunting someone who has the right skills for your business. Searching the team profile section of companies will be your target or asking around. It's what recruitment agencies do all the time. Offering a proposal to own a share in a company might be right up their street, and could give them the challenge they've been looking for.....remember if you don't ask you never know.

3. Business Partner Brokerage - You could use sites such www.businesspartners.com, http://www.findyouridealbusinesspartner.com/ or www.companypartners.com who run a type of dating service for entrepreneurs, allowing you to search for potential business partners.

4. Approach Network Leaders or Business Coaches - Both will know alot of start up business owners and they are likely to know their clients and what their needs are. Talking from my own experience, I am always marrying people together to share skills and team up on aspects of the business, and we've seen successful business partnerships flourish.

So based on all those ideas for finding a business partner you've got a good chance...however it won't necessarily be easy and you might have a few false starts! It is like dating and marriage but in business....you've got to find someone with the same values as you, and who will stick with the project in the long term, to ride the highs and the lows. Remember don't be afraid to ask or else you'll never know.

Best Wishes

Heather

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