How to Find A Perfect Business Partner: 7 Things to Consider

Seek Help From Your Existing Network

The perfect business partner is someone who is an expert in their field and takes a client-centric approach. Someone who is adaptable, open, honest and has high integrity. The best way to find these partners is through your existing network who can introduce you to like-minded individuals that have the qualities you are looking for.

Get Ready To Meet A Few Bad Apples Before The Right Fit

I’m a big fan of the ‘strengths-finder’ concept, which goes something like this: Figure out what your core business strengths and weaknesses are; and, instead of trying to get better at the things you struggle with, embrace the idea that you can’t be great at everything and find a partner whose strengths fill those gaps. I’m also big on business partners needing to have a certain amount of chemistry as well in that it’s important you will still like the person even when you are disagreeing with them. The best way to find this needle in a haystack combination is just like everything else in the business world – you have to network, network, network, and most likely, meet a few bad apples before finding the right fit. Lastly, trust your instincts…just make sure to do a formal agreement to avoid a bad breakup down the line!

Same Vision, Opposite Talents

The perfect business partner is one whose skill set complements and balances your own, and together you can align on the same vision. In my case, I am very good at systems, processes and some of the more technical components to running a business, but I am not as great with talking to customers or selling. My business partner is the exact opposite and is fantastic with people, a natural salesperson and is great at understanding customer needs and identifying growth opportunities for the company based on the conversations he has.

Someone Who Completes The Circle

The perfect business partner “completes the circle,” so to speak. A great partner will be one who has a different skill set and knows about different areas of business than you do. Additionally, working with someone who challenges you and helps you grow is a must for a partner!

The Supportive Spouse

This may be an unconventional answer, but a spouse may be the most important partner in business for an entrepreneur. Entrepreneurship requires someone who supports the crazy ideas, calculated financial risks, late nights, early mornings, sacrifices and endless amounts of unanswered questions surrounding daily life. The path of an entrepreneur is unconventional, and a supportive spouse may be just the partner that an entrepreneur needs to succeed in business. 

Make It Easy To Divide And Conquer

My perfect business partner is the yin to my yang. They can provide balance, motivation, empathy, humor… . They share some of the same interests but also have their own unique experiences, thoughts and opinions, which makes it easy (and at times fun) to “divide and conquer.” My perfect business partner isn’t just a good friend, but rather a friend that I have worked with in the past and feel confident we can conquer triumphs and trials together. I feel confident describing my perfect business partner because I feel as if I have found her!

They Shouldn’t Be Your Best Friend

Preferably someone who has similar end goals and can communicate clearly and effectively. The ideal business partner does not have to be your best friend; in fact, it’s probably better if it isn’t. Not all business ventures and partnerships end well, and that can also affect your personal relationships. Most partnerships will have some bumps on the road as you will have your differences. However, if you and your partner can always maintain a high level of professionalism and are able to communicate well, I think that it’ll be a much better experience and less likely to have the desire of “throwing in the towel” because you can’t stand doing business with your partner any longer. 

Terkel creates community-driven content featuring expert insights. Sign up at terkel.io to answer questions and get published.