Are You Partnership Material?

Posted on June 21, 2014 in Business Partners, Planning & Advisors

My Internet marketing guru is absolutely furious with me for sending out a month’s worth of weekly ezines on business partnerships . . . and not blogging about it.

Having accepted my 50 lashes with a wet noodle, I’ll share with you the February posts from my ezine, LexAppeal, which covers a wide range of business law issues for entrepreneurs.  If you’re not a subscriber, you should be — I personally think it’s one of the better ezines around on the subject!  🙂

From LexAppeal:

“Why don’t you find yourself a business partner?”Kevin asked Jenna after yet another week of her coming home exhausted from running her executive search firm.It sounds easy enough.Find someone willing to work for sweat equity, whom you don’t have to pay right away, who has a long-term vision in mind.But the right partner can be as elusive as the right mate.And the consequences of choosing the wrong one are just as devastating.Like getting married, you don’t want to do it because “everyone else is.”Here are some questions to guide you to that essential first question, am I partnership material?

  • Do you have a very definite vision for your company and what you want to achieve?
  • Are you willing to share decision-making responsibility on the major issues – expansion plans, lines of business, target markets?
  • Do you work better independently, or in collaboration with others?Be honest.Are you a lone genius or a team player?
  • Why do you want a business partner?Are you lonely?Overburdened with what’s involved in running a business?Need an infusion of capital?There are plenty of ways of meeting these needs without taking on a business partner.

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