How to choose partner for your startup
This is really hard question for the founder to find partner (cofounder). It’s a billion dollar question for startup and business. Imagine Segre Brin and Larry page was not a partner. Then what do you think Google exist now? Could we have Google or something else? Business success and failure many times depend upon the partner. So here you can find “How to choose partner for your business”.
Interest are of partner bring more result. Look at partners of Flipkart , Google. They are successful because of their same interest area and goals.
Behaviour in critical situation:
Try to evaluate partner behaviour in critical situation. How he behaves in disagreement, what is his reaction, how he treats people in that situation, his mind set in loss of money etc. This will give you brief idea about his behaviour pattern in various situations and according to you decide.
Firo B Test/ personality test:
Personality test helps you to find out your partners personality. From this personality test results you can judge person’s behaviour. This will provide almost accurate personality details. It will help you to understand person properly. Firo B is one kind of personality test that you can use.
In startup 1+1 = 2+*
If passionate people come together and work on same project for which they are passionate that will always bring infinite success possibility. Passionate partner can become substitute for each other and do work in absence of other partner in emergency situation. This will bring stability, innovation and expansion in business.
Involvement in preliminary work:
Before going into partnership try to find out person involvement in preliminary work. Whether he or she is deeply interested in work or only have money making mind set. You can evaluate his behaviour in this time. You will get some idea of his personality, strength, weakness and most important his interest in business.
This way you can judge person behaviour decide rest of the thing.
Background check will help you to understand person past. By knowing partner past you can judge a person. Business is all about money. So you should have to be aware of his or her background. By doing this you can reduce your future mistake or loss.
No one is perfect and have all skills in this world. Some people have technical skills, some have managerial skills and some have creativity.
In business combination of complimentary skill gives almost perfection in work. It is important to find partner who has complimentary skills. By doing this you are reducing burden of business and focus on business or on your expertise area.
Trust is key thing in any relation. It will take time to build trust in relation. In startup initial stage trust is the key thing. Having trust in each other skills and capability lead towards success in business. As business involves money and management of people, so trust is the key things should have to be in partners.
Knowledgeable person is asset for business. A wise, well verse and knowledgeable partner brings more profit in business. He is valuable asset for company. Person has good technical knowledge then he will reduce your burden. This way you can focus more on other important things of business and run business successfully.
Tuning with you:
Tuning with you is more important. If a person has bossy nature then you cannot work properly with him. Tuning is very important in business. Partner ethics, belief and interest area are critical factor.
People with good tuning can bring more result in any area that is also applies in business. Also behaviour in disagreement is also important.
Wait and watch moment:
Before going in to partnership you have to wait and watch person. You have to give them various tasks and evaluate this process. Also need to find out his interest area, Strength and weaknesses. This will take time but gives good result.
So at the end I can say that you can apply things according to your need. Take time to understand this things and person who is going to be your partner. It’s critical thing in business, so choose your partner wisely.