As a serial entrepreneur, I believe there are 3 critical considerations for choosing business partners.
#1 Trust. Bottom line, do you trust this person with your personal bank account? If you say “no,” think twice.
#2 Varied strengths. Entrepreneurs may have a number of strengths – sales, expertise, creativity, network, execution, vision, and more. Make sure your partners compliment your weaknesses. #3 Moral Support Business partners need to be able to put their heads together to solve problems when times are tough. Does your partner challenge you, push you and support you? That’s gold! I’m lucky to have partners that are passionate, compatible, reliable, open-minded, resolution oriented…the list goes on.
But those top 3? They make for a fantastic partnership! Entreprenuers – why did you pick your business partners?