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How/ Where do you find a good business partner?

by LivingCali758
10 replies
I'm an entrepreneur at heart, I've always been since I was 16 and that quality and dedication of my lifestyle will never disappear no matter how busy my day job gets, or my social function takes up, in my mind I always make the ultimate decisions considering if I'm taking away any time or value from my main focus.

Most recently, I've been working on my business a little over a year now and it's finally almost done in development stages. I am passionate about this and I see it's success, however I feel so alone in this experience which is fine.

I'm surrounded by friends that I can't share my passions or hobbies with because they would then want to be included, but non of them are truly passionate or willing to dedicate time to building a business. I've worked with one in the past and he didn't do a good job. So I feel obligated to not share what I have going on at the moment.

However, I've always wanted to find someone who is passionate in the same thing that I'm working on, someone who is business oriented. I feel that it would be good to find someone to shoot ideas with, to motivate each other on days to work hard and overall get it done faster.

If I find myself with friends who have other interests (which is fine), how do I go about finding someone with the same passions of wanting to create and start a business? When I read about Virgin, Microsoft, Google they all had a friend or partner and through that relationship they developed a great business.

I can see myself being more motivated to work with someone else too.. How does someone go about finding a good business partner?
#business #find #good #how or #partner
  • Profile picture of the author january14n
    You are on the right place by the way. If you like you may try looking for your future business partner right here at WF. I am sure you'll find someone who possess the same mind setting here.
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  • Profile picture of the author ChrisDouthit
    Finding good partners is a difficult thing to do. If you are talking about someone who lives in your area who you can meet with that is even harder.

    Many of these other companies you listed found their partners is college. They were smart in and classes with other smart people with took the same classes so had the same interest from the start.

    You are on WarriorForum now, so that is a good place to start.
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    • Profile picture of the author LivingCali758
      However, how can I find someone who truly visualizes what I see. So if my business surrounds one of my hobbies in any industry. We'll say Art for example.

      If I'm passionate about art, have found myself in the art industries for a while and even found a specific niche in that industry that I can build on. How do I find someone who is passionate about the same industry, local and is business entrepreneur oriented at the same time?

      I feel that if I choose a partner who doesn't have the passion in the industry I'm building on and looks at everything from a prospective of making money, then the lack of ability to add quality to the product or service I offer truly wouldn't stand out because the passion is there for the reward, more so the enjoyment of building a business.

      Does that make sense?

      It's def a good idea to have someone who approaches ideas with the potential of costs, and revenue, and budget. I agree 110% with that, however it's more so agreeable to find someone who is passionate to be in the same industry as well, at least I tend to think so.

      I am happy for my friends, they do things that make them happy and I wish them all success, I only wish a part of me can develop the same type of friendships that other founders have had when first developing and building their empire.
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  • Profile picture of the author Meharis
    Originally Posted by LivingCali758 View Post

    I'm an entrepreneur at heart, I've always been since I was 16 and that quality and dedication of my lifestyle will never disappear no matter how busy my day job gets, or my social function takes up, in my mind I always make the ultimate decisions considering if I'm taking away any time or value from my main focus.

    Most recently, I've been working on my business a little over a year now and it's finally almost done in development stages. I am passionate about this and I see it's success, however I feel so alone in this experience which is fine.

    I'm surrounded by friends that I can't share my passions or hobbies with because they would then want to be included, but non of them are truly passionate or willing to dedicate time to building a business. I've worked with one in the past and he didn't do a good job. So I feel obligated to not sure what I have going on at the moment.

    However, I've always wanted to find someone who is passionate in the same thing that I'm working on, someone who is business oriented. I feel that it would be good to find someone to shoot ideas with, to motivate each other on days to work hard and overall get it done faster.

    If I find myself with friends who have other interests (which is fine), how do I go about finding someone with the same passions of wanting to create and start a business? When I read about Virgin, Microsoft, Google they all had a friend or partner and through that relationship they developed a great business.

    I can see myself being more motivated to work with someone else too.. How does someone go about finding a good business partner?

    LivingCali758,

    Not an easy task. Almost like getting married...
    Please, notice, I say almost...

    If I were in your shoes, first, I'll say what you're passionate about.
    Then, every potential partner approaching you will have to match yours.

    Meharis
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    • Profile picture of the author Fenshon
      Spend some time everyday in the warrior forum interacting with others. Some how you'll bump into that partner that share your characteristics. Most warriors found very good partners that way.
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  • Profile picture of the author clever7
    This is not a simple matter. You have to trust your business partner. I believe that it would be better to find good friends first, and then think about doing something together. You cannot trust just anyone. You have to learn a lot about your business partner before depending on him/her for certain things.
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  • Profile picture of the author Duvallmarketers
    Be careful in what you seek. Partner is a term used to describe someone with an ownership stake in your business. Be sure you have clearly defined parameters for partnership and get everything in writing. You would be shocked at the horror stories of partners screwing over business founders.

    I think a better idea is to form strategic alliances with people who can help you achieve your goals but with no ownership in your business. JV's here in the Warrior forum and all over the internet are mostly strategic alliances or straight commission sales only style relationships. I prefer strategic alliances because it's win-win and we tire of each other then we can go our separate ways easily.

    You should also become familiar with the concept of The Team Work Cycle. There are 4 simple components. Initiation, Ideation, Elaboration and Completion. We are all good at one of these areas but never all four. Initiation is about setting the vision, direction or reason why for a project / company. Ideation is about creating lots of ideas for reaching the vision. Elaboration is figuring out which ideas will work and how. Completion is about implementing / getting the how part actually done. Steve Jobs was an initiator. I scored highest in elaboration with ideation a close second. I'm terrible at initiation and completion.

    You need to know what you're best at and then find people to fill the other parts of the team. That's the challenge of being a solo-preneur and why most don't make it.
    Hope that helps.
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  • Profile picture of the author rodsav
    I would try several joint ventures with other IM's and see how it goes. Personalities and work ethics are important. I had a business partner and we created a number of businesses together. We did not know one other before becoming business partners, but we had the same personalities and work ethics. We are still the best of friends today and would JV again.
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