Cases of people ending a business partnership after sometime are often evidenced. In most cases, this happens when partners are not on the same page on how the business should be run or other issues related to the business. It is therefore important to understand the criteria to use when judging a potential partner. Below are qualities that one can look for in a good business partner:
This quality is non-negotiable. You should be able to trust someone without reservations. It is important to ask yourself whether you can trust this person when it comes to managing finances, making major business decisions, providing viable solutions, providing good leadership, and so on. Things can turn sour if the integrity of a partner is questionable. It is important to take into consideration someone’s past behavioral patterns like how they fair in negotiations or manage resources.
- Work ethics and compatible communication skills
Does this person believe in laboring diligently? The person needs to possess qualities such self- confident, strong execution skills, punctuality, and problem solving skills. He or she should also be a good team player. The partner should uphold high work ethics and should be ready to carry their own weight. It is important to choose a partner with whom you share work ethics. It is actually recommended that you find a partner with better work ethics since this will act as motivation. Compatible communication skills help ensure that parties involved are able to communicate in a clear and cohesive manner with everyone at all levels.
- Complementary skills
It is tricky to work with someone if the both of you are experts in the same field and do not agree on some areas. It may lead to unending conflicts. For better partnership one partner can, for instance, be a product development expert, the second marketing, and so on.
- Shares Vision and values
Partners must agree on the reason as to why the company is in existence and values that will provide guidance for where the business is going. This is important as it will help build a strong foundation for the company and prevent involved parties from working towards different goals.
- Highly motivated and passionate
The partner should believe in the project enough to pursue it. With a highly motivated and passionate partner, you can be assured that you are working towards the achievement of the best possible result for the business projects.