. . . but you can’t pick your partner’s nose. (Or can you?)
I received an inquiry from someone who, I’m sorry to say, is going at this bass-ackwards. She’s chosen a business partner, but not the kind of business she wants to set up. She wants to control all the decisions, but seems more concerned with the type of partnership agreement she needs. She wants to know “What type of business with a partner is best for me?”
A.: Wrong question. You could have a business partner who’s great for a consulting firm and lousy for a baby clothing manufacturer. You need to start with what kind of business you want to have, then look at whom you need to help you get that business off the ground. If you want to control the roost, you may not be suited for partnership . . . and may be better served by delegating to employees (or outsourced staff).
In addition, choosing a business partner is a decision of paramount importance, as I discuss in my BusinessPartnershipCentral.com blog. How you come to that decision (and whom you choose) should be the result of careful planning and consideration–not the fulcrum around which all else spins.
This entry was posted on Friday, March 27th, 2009 at 3:48 pm and is filed under Business Planning, Business Start-Up, Partners and Alliances. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.One Response to “Basic Training 03-27-2009: P is for You Can Pick Your Partners, You Can Pick Your Nose . . .”
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March 28th, 2009 at 3:29 am
The suggestions you made were really worth reading. And they are very useful to people like us who were been striving for the success in the business. Very thankful to u in regard.