Finding business partners

[davidil]

So I have money to invest and ideas, tons of ideas, for products apps and services that would make a killing. What I don't have is time, and by that I mean time to "work" because I'm busy traveling the world and having fun... learning new skills, going to seminars, having lots of sex... etc ;-)

My question is - if I'd like to find partners I could trust, people I could say "here is some money, here is the idea, here is how you're going to do it, GO" - what do you suggest would be the best way to go about it? Family? Post something on my Facebook page and see if any friend wants to venture with me?

I find it so hard to find people I can trust who have the drive to do stuff, if it's cool travelings of starting up businesses...

Any thoughts?

 

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[BigBrianC]

Ill do it

 

[axiom]

I'd recommend staying away from family... Could lead to bad endings.

 

[marklov]

I'd recommend staying away from family... Could lead to bad endings.

+1 to that!

 

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[twdavis]

The family issue would be nonexistent for me - my family is Sidewalkian/traditional as shit and refutes everything I say so I guess that's a blessing in disguise.

 

[townhaus]

So I have money to invest and ideas, tons of ideas, for products apps and services that would make a killing. What I don't have is time, and by that I mean time to "work" because I'm busy traveling the world and having fun... learning new skills, going to seminars, having lots of sex... etc ;-)

My question is - if I'd like to find partners I could trust, people I could say "here is some money, here is the idea, here is how you're going to do it, GO" - what do you suggest would be the best way to go about it? Family? Post something on my Facebook page and see if any friend wants to venture with me?

I find it so hard to find people I can trust who have the drive to do stuff, if it's cool travelings of starting up businesses...

Any thoughts?

Try looking for someone already trying to attempt, or making progress the same or similar idea (shows commitment, common vision).
Just curious about what it is you fear, that people will screw you money over wise, or wasting time/not being serious ?

 

[davidil]

Not motivated enough, not smart enough, screw me over... but actually I was reminded of someone I can work with and wrote him, we're starting something new. He's a hedge fund manager so can raise money and a really smart guy. If we do this, in a few months I'll come back to this thread and show you what we've done.

 

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[davidil]

You know what... I just realized my friend from the other thread, I'm just going to turn her into an employee + % , so i n effect make her a partner while she's also following my instructions.

 

[WestCoast]

What's the only ship that doesn't float?



A partnership


--
start it yourself and hire smart people, otherwise don't bother.

 

[mentalic]

Network as much as possible. You have to find some that will 'click' to you.
Also, if you find someone that could be your possible partner and something feels wrong, just don't bother.

If you have the money why don't you build a team and guide them to do the work for you? You have to play a role at that to, like leading the team etc. You can't just give someone money, the idea you have and say 'go'.

 

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[Vansita]

So I have money to invest and ideas, tons of ideas, for products apps and services that would make a killing. What I don't have is time, and by that I mean time to "work" because I'm busy traveling the world and having fun... learning new skills, going to seminars, having lots of sex... etc ;-)

My question is - if I'd like to find partners I could trust, people I could say "here is some money, here is the idea, here is how you're going to do it, GO" - what do you suggest would be the best way to go about it? Family? Post something on my Facebook page and see if any friend wants to venture with me?

I find it so hard to find people I can trust who have the drive to do stuff, if it's cool travelings of starting up businesses...

Any thoughts?

Haha, clearly the best thing would be tell us what you need, and a rough overview of the ideas, and see if we could help you out - Im sure a lot of us have tons of skills that could be applied, pending the circumstances.

 

[yahdmon]

Very good feedback you got here already. I will add some more umpf to the find someone trying to fish suggestion. That is the minimum. You already know they shouldn't have a slowlane mindset but beyond that YOU must have the patience to go slow, court the prospect, get to know them, pop a few surprises as you try to get to see the true them, not paying attention to outward fluff. But you no doubt know this already, but it is worth echoing I think.

 

[miked_d]

What I don't have is time, and by that I mean time to "work" because I'm busy traveling the world and having fun... learning new skills, going to seminars, having lots of sex... etc ;-)

You don't have time because you are too busy having fun but you want to start a business. You are doing it backwards. Do the business first so you can have fun for the rest of your life.

 

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[Wal-Mart Vendor]

Mind your own business. IMO... The start up process is the funnest part.

 

[Fenix]

Davidil, posting on Facebook is a tremendously bad idea: you'd attract every kind of people and you should filter them.

You'd waste too much time.

I made a similar mistake and do you know the outcome? I created a competitor.

As you can read, I haven't won the lottery, so to speak...

Anyway, since you don't want to reduce your time for fun, you should pay someone to use his time to find the people you need.

Do you know someone able to do that and that won't screw you?

If you don't, I'm sorry to tell you this, but you must sacrifice a little of your time to network and find directly your potential partners or someone you delegate this goal to.

Probably you'll be force to do it on your own. So who do you need?

In the heaven of business you need one or more people to solve these 3 problems:

1) Product
2) Marketing/Sales
3) Funds

You'd bring cash on the table, so this problem is solved. But, where do you find the others?

You'll find experts about the product in on/off-line places where the topic of your business is the focus of chats and meetings.

I can't tell you more, because I don't know what are your business ideas.

Instead, you'll find experts in marketing and sales in forum like this and during meetups on entrepreneurship you can easily find on Meetup.com

What you're going to read will be obvious, but choose who have records to show you that are successfull or test them to prove if they are good chatters, or if they can do what they say they're able to do.

As you can see, at least, a little of your time is necessary.

Sorry, man

Or you can drive in a different road:

You remember about the 3 problems, don't you?

1) Product
2) Marketing/Sales
3) Funds

Put your money not on your ideas, but on others's one: there are more people than drops in the ocean that need money for their ideas or already started businesses.

Most of them are morons, wannabe-millionaires or just incompetents. Some are just champions without cash.

You'll find even easier this way, because your partners would know exactly the business, you won't have to waste your time to make them get their own business.

While if someone had to execute your ideas, since we are not very good with telepathy so far, you'll have to explain and manage things more than once: you could be the best speaker in the world and your partner could be the best learner in the universe, the equation will have the same result.

Whichever road you choose, good luck and good fun


Sent from my iPhone using Tapatalk

 

[SEBASTlAN]

Very hard to find someone with the same work ethic/hustle as you. Best thing is to find someone who already owns another business and watch them (somehow) and see how they work.

 

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[davidil]

Davidil, posting on Facebook is a tremendously bad idea: you'd attract every kind of people and you should to filter them.

You'd waste too much time.

I made a similar mistake and you know the outcome? I create a competitor.

Thank you for this, good post. I think I've honestly found the best person. Very smart Russian friend of mine, accountant by trade, smart, trustable. Lives in Russia where resources now days are cheap (coders etc). I'll hie her first to help with existing businesses (sales, support, etc) while she's learning about marketing, adwords, CRO, copyrighting etc. Then we'll start up together new services / products together. I'll trust this process more than just handing money to someone.

INDEED the START UP period is the only thing that interests me. Not the day to day operation and certainly not the money from which I have enough. It's about the creative process and proving myself that I can do it again and again.

 

[Fenix]

Problem solved