What to look for in a potential business partner
What to look for in a potential business partner
(OP)
Hello all,
I am just wondering what tips you all have for finding the right potential business partner. There is one of my fellow coworkers that I get along with well enough, I feel like we have complementary skill sets, he has more experience than me, but not by much. His engineering work is top-notch. He has expressed a desire to start his own engineering firm, and I think he would jump at the prospect of working with me. The one big downside - he complains a lot. It seems like he is always complaining about our bosses. I don't know if it is just our bosses or if he is in fact a Debby Downer. Any suggestions? Any tips on the most essential qualities in a business partner?
Thanks,
JD
I am just wondering what tips you all have for finding the right potential business partner. There is one of my fellow coworkers that I get along with well enough, I feel like we have complementary skill sets, he has more experience than me, but not by much. His engineering work is top-notch. He has expressed a desire to start his own engineering firm, and I think he would jump at the prospect of working with me. The one big downside - he complains a lot. It seems like he is always complaining about our bosses. I don't know if it is just our bosses or if he is in fact a Debby Downer. Any suggestions? Any tips on the most essential qualities in a business partner?
Thanks,
JD
RE: What to look for in a potential business partner
Would you rather marry a man or woman who is a great engineer, but is a debby downer, talks smack about everyone around her, or,
a person who is a middle of the road engineer with a great personality?
remember. if the company is successful, you will both soon spend less time engineering, and more time managing people. then what qualities will be important?
RE: What to look for in a potential business partner
It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.
RE: What to look for in a potential business partner
So who will he complain about if you are partners? Choices are: You. The customer. Employees.
RE: What to look for in a potential business partner
My father attempted a business partnership some years ago, one of his wholesalers found out he was doing it. and told him if he did become a partner with that man, his open accounts would be closed.
B.E.
You are judged not by what you know, but by what you can do.
RE: What to look for in a potential business partner
you will likely
1. spend more time with your business partner than your wife
2. the success of your business relationship will have a more profound impact on your financial outcome than the success of your marriage
3. the stability of your relationship with your business partner will definitely affect your marriage
RE: What to look for in a potential business partner
I'd be inclined to not have a partner. If it doesn't work out, then the situation is pretty complicated to egress.
RE: What to look for in a potential business partner
If you are offended by the things I say, imagine the stuff I hold back.
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
You've interpreted CWB1's comment incorrectly.
The comment was not an insinuation you do not work well with this person. It is an insinuation that if a person's personality quirks (cynicism in this case) rather than their working ability cause you to question whether or not you can work effectively with them, you may not be quite ready for the struggles of managing a firm of your own.
Andrew H.
www.mototribology.com
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
Considering the professional and interpersonal abilities of a partner, manager, or other leader is a relevant and good thing. Considering irrelevant petty personal annoyances as you are doing is quite another, and typically is a red flag that someone isn't ready for a management role per management psych 101. The same is true of dismissing others' points as "insane" or laughable without even understanding them.
RE: What to look for in a potential business partner
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If you can't explain it to a six year old, you don't understand it yourself.
RE: What to look for in a potential business partner
TTFN (ta ta for now)
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RE: What to look for in a potential business partner
A business partner must:
- Bring significant skills that you do not already possess
- Be easy to get along with
- Have a reputable business history
RE: What to look for in a potential business partner
RE: What to look for in a potential business partner
I look for intelligence, work ethic, integrity, skill, kindness, understanding, sense of humor, stable personality traits, financial savviness, stable family life, good people skills, gregariousness but with balance, personal hygiene, self-care, etc. They all speak to the integrity and character of the person.
Integrity in the sense I seek is how much they are whole and undivided, as a human being, as well as honesty. Both definitions of integrity matter. How complete are they as a person? Fragmented lives are not good signs. I should say, lives that are too fragmented are not good signs. Here today; gone tomorrow. OK today; terrible tomorrow. Honest today; lying tomorrow. And how they perceive reality is important and, to me, is part of their integrity. I see a lot of people today that are divorced from reality and completely ignore facts and data. No progress can be made with people like that.
Read Character Disturbance by Dr. George Simon, Ph.D. prior to making the leap. We aren't trained in human relations and that book educated me a great deal. After reading his book, develop tools to discern those with character disturbance. That will help you weed out bad actors.
Picking a partner is no trivial task, from my experience.
I thought I had good people skills but with the really difficult, obstinate people, they stink and are completely ineffective. Those I now walk away from for my own sanity. Peace in life is super important.
Running your own business is one of the most enjoyable endeavors in life, from my experience. But don't undertake it lightly. It has its challenges, too.
Pamela K. Quillin, P.E.
Quillin Engineering, LLC
NSPE-CO, Central Chapter
Dinner program: http://nspe-co.org/events.php
RE: What to look for in a potential business partner
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If you can't explain it to a six year old, you don't understand it yourself.