Choosing Your Best Buddy As A Right Business Partner

Are you thinking of putting-up a business? Do you exclaim a resounding “Yes, the soonest as possible time”. Are you looking for your your best business buddy?

Well, let’s find out! 

Your business partner should be the person you really T-R-U-S-T, a buddy that you really know. He or she must be;

TEAMMATE

Everyone has its own strongest and weakest point. A good business partner shall be willing to share his/her best abilities and humbly improves his/her weaknesses. He/she present his/her idea in an open table. Everything should be transparent to both of you. Don’t hide something that will come up as a problem later. You are the best buddies to help each other. The business will grow as your personal relationship towards the business goes deeper. 

RESOURCEFUL

Both parties must find time for each other. 

In a business world, you need to be tough in today’s competitive market. You need to have more time to develop your strategies together. You must open your eyes widely. Suggest a conclusive and firmed plan. Business is like game wherein there’s risk of losing your money. You must the anticipate and prevent the risk.  You shall not and never merely dependent on chances, lucks or what you simply see around you. Don’t copy-cat a business that you are not knowledgeable on it. It is important that at the beginning or during the planning phase of the business, each of your roles and responsibilities shall have be set-up and clearly defined to avoid conflicts that may arise in the future. Conflicts can be prevented if each of partners will be responsible to perform each respective role diligently and strictly.

UNDERSTANDING

Personal matters shall be separated from business engagements. Both parties should understand each other not just because you’re best friends or relatives. A harmonious working environment must begin with respect, honesty and understanding to each other.

Knowing deeper and understanding better of your partner could be developed over a cup of coffees, a lunch or dinner together. Your personal connections could be a best weapon to understand the, personality, visions, passions, views and plans of each of the partner. It could be a start of a straightforward interactions in dealing a business together.

Talk together about your concerns and potential issues of the business. Combine your thoughts together to come-up with one direction on how how you would run the business together. 

In cases where there would be specific or delegated major functions of each of the party, it should be clearly presented to each other. An example if the one has a function of providing finances (or capital investment), the other would be focusing on the operation part.

SMART

Look for a business partner who has a ton of knowledge about the business. The best companion in the business is someone who is smart and skillful. He/she must know the demand of business better than the average person does. It means that if he/she have the better knowledge, he/she might as well be interested on the business. Therefore, he/she will definitely have his/her heart on it.

TRUSTWORTHY

You want to be with someone whom you can trust to run your money profitably. Remember, every mite is derived from your hardship. You want someone to be honest. You want someone who would have the same drive to do the business with you. You want someone who could transpire  every single penny earned in doing the business together.

That’s it…

Have you already determine who would be your best business buddy from those people around you?