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Finding a partner

Discussion in 'General Entrepreneur Discussion' started by bambambam, Nov 12, 2017 at 11:45 PM.

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  1. bambambam
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    bambambam Contributor

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    I have lots of ideas but am having trouble focusing time and effort to one without thinking of/working on another.

    Usually I hit a road block in my idea or process and begin to slide away from the struggle and onto plan b, c, etc.

    It is not a motivation or education issue.. more of an execution problem.

    I’m thinking a like minded partner could be the answer. Someone who shares my end goals and can work with me to shape the path to get there. The hurdles could be crossed together and ideas and feedback would be double.

    To those who have done joint ventures, how do i find the right partner? Spouse, co workers, best friend and parents are not options due to differing mindsets.

    I would prefer someone local but I suppose long distance could be fine with modern tech. How do you “vet” and find a potential partner.

    This forum is great but like any other, you risk sharing too much with the competition/public if you post all of your details. That’s why I’m looking for a partner rather than just a sounding board for each idea.

    Any takers or ideas? If interested we could chat further over pm’s and eventually phone/FaceTime.

    Long story short I’m a healthcare provider with great schedule and income but looking for financial freedom without being in the office seeing patients. I want to retire in 5-10 years (pre-40) with good health so that I can be a serial entrepreneur, travel the globe with my family, coach my boys and donate a ton of money to church and serve those in need.

    Looking forward to all replies!
     
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  2. bambambam
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    bambambam Contributor

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    Bump- anyone interested?
     
  3. levijean
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    levijean Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I think most people here will tell you a partner is not the answer.
     
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  4. fhs8
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    fhs8 Bronze Contributor Speedway Pass

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    So you haven't even started a business yet but you’re sure you need a partner?

    Do you think it would be a good idea for that like minded partner to partner up with you? What do you offer in value?

    All I see here is what you want. What about what your potential customers want? Basically you don't want to start a business.


    I think partners are a TERRIBLE idea in general. There is way too much that can go wrong. If one partner were to slack off the other partner is basically screwed with no recourse and has little incentive to work on the business. Then if a business does take off you'll only get half of the dividends. In many cases you could've done it all yourself and could have made double.
     
    Last edited: Nov 14, 2017 at 9:33 AM
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  5. bambambam
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    bambambam Contributor

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    Thanks for the reply. I’m not trying to be like most people so I’m fine with that answer. Just looking for the right person to work with.

    Partner is maybe not the right word but it is what I used. I’ve tried the solo approach and it hasn’t gotten me where I want. I wondered if there was someone who felt the same way out there. Maybe together we can make serious or better progress. Thanks again
     
  6. bambambam
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    bambambam Contributor

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    If a partner is what gets the ball rolling then I’ll take the trade offs. Many succesful partnerships exist just like many fail.
    Many individuals fail just as some succeed. I’ve had immense success in life up to this point. To expand my skills and reach the level I want to be at, I’m interested in widening my skill set and potential through connecting with the right people. Similar to a mastermind group

    I do appreciate your reply
     
  7. jon.a
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    jon.a Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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  8. bambambam
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    bambambam Contributor

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    I read fastlane, loved it and have given copies to friends. They don’t love it like I did so that is why I’m searching for people to work together with..

    Haven’t read unscripted. Are those the 2 you’re referring to?
     
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  9. jon.a
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    jon.a Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Go get your badge...
    GOLD - I've Read The Millionaire Fastlane!
    You'll get a little more respect with it.
     
  10. LateStarter
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    LateStarter Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I echo what people here are already telling you. A partner won't help you. Partnerships are hard; harder than doing it alone. I know, I've done both.

    If you can't execute now, why would a partner want to go into business with you? You're like dead weight. Nobody needs dead weight. And no one wants to share hard earned money with dead weight.

    You don't need a partner. You need a mastermind. You need to feel accountable to someone and to see people executing like a mother to motivate you to get off your ass and do work, get over your fears, and Get Shit Done (GSD tm - LightHouse). Problem is, you need to be doing something to be a part of a mastermind worth anything. So you'd better get started.

    "How bad do you want it?" - Boom
     
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  11. Bach89
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    Bach89 Contributor Read Millionaire Fastlane

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    Hey bambambam, I can completely understand your mindset as I've been there many times. Sometimes partnerships work, sometimes they don't - I know many people making 7 figures through their partnerships, and I know just as many solopreneurs doing the same. Each path can work, so long as the partners both bring to the table something that the other person lacks.

    I've personally always been solo, but I'm always on the lookout for the right partner. Shoot me a PM (it looks like yours are turned off) and we can go from there.
     
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  12. bambambam
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    bambambam Contributor

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    Lmao noted. Thanks for that. I think you missed the mark a bit.
     
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  13. AndrewNC
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    AndrewNC Limitless Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass LEGENDARY CONTRIBUTOR

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    I'd look for red flags, and things to avoid in a partner, such as the following:

    These are all character traits you'll be able to develop within yourself, with the right understanding what motivates you to stick it through, and some other things.

    Work on improving this in yourself. I used to be in a position where I looked for others to make up the lack within me - and speaking from the epicly disastrous experience from that...become whole with yourself first.

    This could be a red flag, depending. Some people travel and work full timeand are able to handle it. For others (when I traveled part of the world before), I wouldn't be putting in 100% towards my business. I wouldn't want to partner with someone who already has on their mind to do this. But that's just me.
     
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  14. bambambam
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    bambambam Contributor

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    Thanks and will do!

    Thanks for that- you aren’t the partner I’m looking for
     
  15. mcastillo
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    mcastillo Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    These all sound like you problems... Looks like you need to learn to focus and act upon things, I feel if you have the same mindset with a partner they may be dragging you along through a business venture.
     
  16. bambambam
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    bambambam Contributor

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    A doctorate degree and a million in real estate doesn’t get much respect these days. Thanks for your input. I’ll see if I can ever focus and quit being dragged through life lol
     
  17. ThirtyOne
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    ThirtyOne Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    This seems to be the heart of the problem you are looking to solve.

    This would appear to be the solution, but it might not be. Let's break it down, I'll act as a "partner" for a moment here.

    1) trouble focusing time and effort to a single idea; bounce over to another idea....
    -Focus and effort issues are personal and really shouldn't be passed onto a business partner. That's a recipe for divorce. However, an accountability partner CAN help. Their role would be to keep you accountable to your goals. Some have even written a check for a significant amount of money (say $1000-$10k) and given it to a trustworthy accountability partner. If you don't accomplish your goal by a certain date, they depost that check into their bank account.
    2) It is not a motivation or education issue.. more of an execution problem.
    -Focus and effort ARE a motivation issue, because no matter your education or skill level, focus and effort are tools you have to get ahead. However, let's say it IS an execution problem. What I've found helps is:

    a) Set an end goal. Write it down.
    b) Now forget the end goal and write down only the very next step you need to take to get from where you are closer to the end goal.
    c) Do that step.
    d) Rinse and repeat.
    Even better if you can do a step between A and B where you work backwards from the end goal to make clear waypoints back to where you are. It helps clarify that "very next step". But if you can't do way points, forget this part.