To Partner Or Not?

My business is a partnership and I'm happy that it is. I know many people prefer having a business partner thinking it's better to have someone to work alongside in a new start up. It also ensures company and provides affirmation when making difficult decisions.

But is a business partnership meant for anyone? I don't think so.

True, the entrepreneurial path less taken will be less lonely with a business partner.

But do consider these factors before entering a partnership:

1. Both partners' personality
2. Both partner's working style
3. Both partner's value
4. Integrity

A friend may not necessarily make a good business partner. Do realise that work ethics of really good friends may differ greatly. Just because you're comfortable with someone in a social setting doesn't mean you will work well together. Don't jump into the partnership because of convenience (your friend etc.). Try doing a small project  or organise an event together to gauge the dynamics of your working relationship.

And of course, sharing similar values mean that both parties will move in the same direction. In times of difficulties, it'll be more manageable to come to an agreement and move the business in a certain direction.

Integrity is the most important factor in my opinion. You got to trust your business partner and know that he/she will always make decisions in the best interest of the business.

So far, I have been talking about partners in terms of 2 people. If your partnership is one that consists more than 2 people, it just mean that you have to think through the above several times over. ;)