How to find a business partner – A step by step guide
In a life of many entrepreneurs comes time for looking for a business partnership. There are lots of situations when we decide to start to cooperate with someone – for example, the business we run is thriving, but we feel the duties are overwhelming us and we need a support, or there is an idea of diversifying our services for a new one, but we do not know too much about it and think about someone who is specialized in this field.
1. How to find a business partner?
There are many possibilities to find partners for business. If you are seeking new cooperators who give you a fresh angle on your ideas or take up some of your duties, in this article, we present easy ways to do it.
2. Small business partners wanted!
In general, we are not able to determine one, clear-cut definition of Business Partner. It can be a supplier, customer or agent – the type is up to you and your requirements. The main thing is to choose an entity which will support you and show the interest of cooperation. But where to find a business partner like this one? Here are some tips which may be helpful for you:
2.1 Find partners for business among relatives
One of the easiest ways to find a partner is for asking – think about someone from your family or friends. Everyplace we can see smaller or bigger enterprises of old fellow students or school friends – from cafe to a marketing agency. It is a good option for cooperation because you have known this person already. Surely, you would choose someone you can trust, who will stand by you no matter what and, naturally, has the necessary skills you are able to confirm.
People looking for business partners among their family and friends are afraid that business would confuse the relationship. At the bottom, it is possible unless we follow some simple rules:
- communication is the cornerstone – your sibling may have a similar worldview to yours, but business issues don’t go so harmoniously every time. In this case, don’t take it as an offense or too personal, and when you feel there are some misunderstandings between you – do not waste the time and as soon as possible discuss the problem. It lets you avoid disputes and no sense worries.
- clear policy – before you start working together, settle basic rules related to the character of your cooperation. Think about working hours, salaries, holidays and so on. Try to talk about the separation of social and working life.
- motivation, understanding, and distance – keep in mind that your friend is only a human and has a right to make mistakes. Do not attack your partner, be patient and as it was mentioned before – talk, talk and talk. When it would be a bad day for this person, remember about motivation. Sometimes simple words like: “My business partner – we would conquer the world!” is sufficient kind of support.
The example of business partnership between family members known all over the word is Johnson&Johnson company. It was founded in 1886 by Robert Wood Johnson and his two brothers and became a global leader in diagnostic equipment production. So, as we can see family business is not something you should be afraid of – it is only the matter of choosing a proper person.
2.2 Co-workers as your new business partners
A good solution is to find business partners in your workplace – present or past. The co-workers are people you know, have contact with (in general), and what’s important, you are aware of their skills and potential.
Awareness of their approach to the work let you choose the most reliable colleague, who will meet your requirements such as precision, punctuality, work motivation and so on. Try to find people who would not only take but also give something from themselves – some kind of added value which enrich the knowledge base.
2.3 Meeting business partners – trade fairs and conferences
There are various kinds of events you can find a business partner. Depending on the line of business you handle you can get yourself off to different trade fairs, conferences, and training courses. Seeking a business partner in presented places gives you a chance to establish contact with professionals and even the leaders in your field.
You can look for national or global events. For example, if you trade in agricultural equipment, check websites of companies and organizations which handle things connected with agriculture and food market. There is information where and when the conferences would take place. In many cases, you are also able to see the list of participants with the contact details.
Next to conferences and trade fairs, you can join a business course. There are many different types of classes, from Strategic Leadership and Management to Managing the Organization. Members of these kinds of events are willing to deepen their knowledge – it sounds like a good quality of the business partner.
Meeting business partners is also possible in a special kind of events which are locally organized so-called MeetUp. It is a networking group which meets in a particular time and place and discusses different topics – from business models and food production to software suites. In general, admission is free and available to everyone.
3. How to find a business partner online?
The Internet is a vast field of activities – you can find there almost everything, even your future business partner. So, how to find a business partner online?
3.1 Join the services for businessman
We can find many special portals for the businessman. The example of this kind of online platform is www.bankofparners.com where you could search for a partner from any fields. There aren’t only local cooperators, but also international companies. You can choose the nationality of your potential partner and see exactly what that entity deals in. If you find an interesting company, there is a possibility to contact it by chat or find out its profile on Twitter or Facebook. Then you can ask all necessary questions related to skills or experience and decide on start the business relationship or not.
There is also a specific business partner search dedicated to a group of people connected with some co-features – profession or hobby. For example, you would like to open a new gym and you are looking for a business partner in the USA. Unfortunately, you don’t have the foggiest idea about fitness so you would like to cooperate with someone who is a dab hand at the sport. Then, it is a good solution to check websites like www.findyourtrainer.com, where you can check the skills of several personal trainers and get in touch with them.
3.2 LinkedIn power
Another easy way to find a business partner is checking LinkedIn service. It is a place which is known by every recruiter. There are hundreds of profiles – not only job-hunters but companies and entrepreneurs, who can meet your expectation and become your business partner.
What is more, there is an option that you can add an offer, such as: “We are looking for a business partner who specializes in…” then you write all necessary information about the kind of enterprise and your requirements. LinkedIn users keen on the offer would apply for this position and you would be able to contact them, organize a meeting and choose the best one.
Naturally, you can deal with your business partner online only – in this case, proper communication by messages, emails, and calls is a basis. Check if the entity is dependable, pay your attention to its recommendations and certifications and do not be afraid of asking – you have to be sure you work with professionals who will not con you.
There are many options for seeking business partners. It can be someone from your family or friends. You do not have to be worried about your relations – remember about conversations and clear terms of your cooperation. Of course, you can choose someone from your present or past work or find a completely new entity. Check meetings and conferences of companies which can be interesting for you in the nearest period or carry out an internet research for getting contact details of chosen entrepreneurs.
No matter what kind of seeking business partner you decide to pick, the most important thing is to cooperate with the solid entity, which will understand your vision, be in on this enterprise and won’t leave you alone in turbulent times.
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