Traits to look for in Business Partner
Many people have great ideas and many VC's force people to act in a team, they want to see that you work well together to build a company.
Well, in the early stages of VC funding you are really building your business by yourself, especially if it unique to your narrative and the void in the market place that you are trying to fill.
So, you building your business but you need a business partner, especially if you tried all the platforms out there and still need major cash.
What are the traits that you should look for in business partner:
1. Is this person a serial entrepreneur? This is could be a bad thing because they only looking to build something to cash out fast and has no vested interest in the long term horizon of your business.
2. Is this person consistent? Some people are consistently a nice person or consistently an arrogant person but is a whiz in another area that you need. In either case, you should not have to deal with a person who changes with the wind. You need a business partner who can deliver consistently.
3. Does this person have a jaded past?
We all have done things that we need not revisit, but are you comfortable hiring and doing business with a convicted felon or a person who is willing to give you money, but is head of a porn empire? I know this is more moral than anything, but these are things that you really need to consider.
4. Is this person a scientific whiz but lacks people skills?
Many purely technology based people lack people skills this why when they scale up they always bring in an outside seasoned CEO with excellent people skills. But for now if you are dealing with someone like this be the front person for your company and only allow them to explain the technology or scientific stuff.
5. How long have you known this person?
Many people have these team match up mixers, where in 2 hours you build a team there you have a business partner. In some cases this is good to do business with perfect strangers, but in other cases maybe you should go on a Outward Bound program afterwards, which shows people how to live outdoors for a week.
6. Are there traits about this person that you simply can't ignore?
I can tune out just about anything and anyone when working on a project, but some people can't, some people are so sensitive that the mere look of someone sends them over the top. Know your traits and deal breakers before you seek out anyone else to bring to your team.
Cheers to finding that perfect Business Partner!
Well, in the early stages of VC funding you are really building your business by yourself, especially if it unique to your narrative and the void in the market place that you are trying to fill.
So, you building your business but you need a business partner, especially if you tried all the platforms out there and still need major cash.
What are the traits that you should look for in business partner:
1. Is this person a serial entrepreneur? This is could be a bad thing because they only looking to build something to cash out fast and has no vested interest in the long term horizon of your business.
2. Is this person consistent? Some people are consistently a nice person or consistently an arrogant person but is a whiz in another area that you need. In either case, you should not have to deal with a person who changes with the wind. You need a business partner who can deliver consistently.
3. Does this person have a jaded past?
We all have done things that we need not revisit, but are you comfortable hiring and doing business with a convicted felon or a person who is willing to give you money, but is head of a porn empire? I know this is more moral than anything, but these are things that you really need to consider.
4. Is this person a scientific whiz but lacks people skills?
Many purely technology based people lack people skills this why when they scale up they always bring in an outside seasoned CEO with excellent people skills. But for now if you are dealing with someone like this be the front person for your company and only allow them to explain the technology or scientific stuff.
5. How long have you known this person?
Many people have these team match up mixers, where in 2 hours you build a team there you have a business partner. In some cases this is good to do business with perfect strangers, but in other cases maybe you should go on a Outward Bound program afterwards, which shows people how to live outdoors for a week.
6. Are there traits about this person that you simply can't ignore?
I can tune out just about anything and anyone when working on a project, but some people can't, some people are so sensitive that the mere look of someone sends them over the top. Know your traits and deal breakers before you seek out anyone else to bring to your team.
Cheers to finding that perfect Business Partner!
Comments
Post a Comment