Challenges in Choosing the Right Business Partner

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?? Challenge nr. 1 - Motivation.

Especially if the partnership is made to set up a company,?do not hurry! The enthusiasm for new beginnings can lure the future partners into not allowing themselves the time to ask questions such as:

• Why do I want to set up this company?
• Why does my partner want to do the same - set up this company?
• What do I personally expect out of this company, and what does the partner?

If one partner's goals are related to becoming number one in a specific field, making himself a name through that company, having a numerous employees, and the other just the opposite, there is trouble.

So be authentic about the answers to these questions and identify whether there is any common ground for you. If not, think again before starting the company.

?? Challenge nr. 2?- Each partner's motivation for setting up a company with you and not alone.

Why would he start a company with me and not alone? If one partner thinks he will just put up the money and only cash in the dividends at the end of the year while the other expects full-time and effort involvement, there is trouble too.

How does each partner see the exit? Does any of them see the company as their sole source of income? The challenges for that partner will be different than for the other one.

?? Challenge nr. 3?- What is each partner's team role, and how can responsibilities in the company be distributed based on that?

Identify this innate team role.?I can help you here.

I mean, identify the contribution you make in a team simply because this is what you were born to do. Some tests can be done here, and you can get a clear picture.

One example?- let's say that you start this new project, whatever it is, and you are the person who always thinks of new ways to do things, to new solutions when the old ones go wrong, but you are not necessarily the person to also carry on the new ideas as a plan. Not to mention implement it. You are the source of solutions. This is your main contribution. You will need a partner whose strong point is creating the plan and implementing it. Ask yourself this question: if you are both into bringing in new solutions and neither of you carries them out, will you ever get anything done? Trouble again.

You might say - yes, but I think I might have both of these roles in me. Is it possible? Yes, it is.?Drop "team roles" in the comments, and I will give you more details.

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Do you have some more challenges you can add to my list? Drop a comment and help us all.????

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