how do you find biz partners?

[m1522632]

Just wanted to hear real stories from successful people here..

I have a lot to bring to the table: ideas, experience, energy... maybe even access to some funding

but I cant find a business partner who could help me with shaping my ideas, motivate me and working together on my or his ideas

I am also interested to contribute to other projects.. but it looks like everyone who I saw on entrepreneurs forums doesn't take it seriously.

Any ideas how to find a good business partner?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Inphinity]

I asked this question of myself for quite a while, and I eventually came to the conclusion that, in some ways, while I had valid reasons for searching for a venture partner, it was also a subconscious excuse for limited progress. This may or may not be the case for you, I'm unsure.

That said, both the projects (yes, I know, two, bad! But it's not ) I'm working on now are partnerships - but both are with people I've known for a long long time, so I didn't really need to search too much.

That said, this forum for a start is a potential source - most people here are probably like-minded in terms of their desires and ultimate destination (well, those who aren't there yet anyway hehe) and other than that I'd suggest looking for startup and entrepreneur meetup type events in your area.

 

[Rem]

I partnered with a guy from this forum and things have gone really well. A lot of it has to do with the fact that we both understand the fastlane principles. Of course we don't always see eye to eye on some of the daily things but they usually get worked out.

But each day we have been growing our new business and spending time developing it and I see nothing but success ahead. I know I am pumped and he is also pumped!!!

 

[Brootal]

Rem- I would love to see a post about how you guys decided to partner up, how it all went down, and how things are working now.

Of course, that is if you would like to share it.

Thanks

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rem]

At some point I am sure we will. Right now we have decided to remain sort of quiet about it. And I wouldn't mention anything unless my partner also agreed. But maybe in a few months.

 

[Rickson9]

Just wanted to hear real stories from successful people here..

I have a lot to bring to the table: ideas, experience, energy... maybe even access to some funding

but I cant find a business partner who could help me with shaping my ideas, motivate me and working together on my or his ideas

I am also interested to contribute to other projects.. but it looks like everyone who I saw on entrepreneurs forums doesn't take it seriously.

Any ideas how to find a good business partner?

No offense, but speaking for myself, if I'm looking for a partner to help 1) share ideas and 2) motivate me, that would be a problem right there. If I didn't have those 2 cornerstones right there, there is a strong possibility that I'm not cut out to be an entrepreneur.

Another tell-tale signal is the inability to sell. That's huge, if not the biggest sign.

Good luck and best regards.

 

[JEdwards]

I think what you really need is a mentor....

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[CEBenz]

Another tell-tale signal is the inability to sell. That's huge, if not the biggest sign.

I'd love to hear some elaboration on this.

I think what you really need is a mentor....

x2 on what Jack said.

m1522632, I think that what you may actually have is a confidence problem. Which, could conceivably affect other areas such as sales. You need to believe in yourself as customers and potential partners will "smell" the lack of confidence so to speak.

 

[Likwid24]

I feel that you have to know someone really well to partner up with them. Most people don't show their true colors right away and when they do it might be too late. It's tough enough having a partner that you know well. There are exceptions, such as Rem, but it's a big risk. It seems like Rem got lucky finding someone he can work well with. I would say that most people in this forum have the same goals and thoughts which is important because you want someone on the same train of thought as you. If I were to partner up with somebody here, I would see a lawyer to form agreements so one person can't screw the other. This is just my opinion on what I have seen happen to people around me. Good Luck!

 

[Rem]

I'ts always a risk and it's never perfect. People have to understand that there will be disagreements and issues every day. It's tackling those, moving forward, finding solutions to that etc.

I think saying the inability to sell is a tell-tale sign is a fallacy. Everyone can bring something to the table. I know some people who can't sell at all but they are good with process, organization, structure, etc. That is why companies departmentalize. There are people who know how to market and sell. It's second nature.

I do believe motivation has to come from within. Finding someone else to motivate you is a bad start. In the end people will un-motivate you. It's the nature of working with people. Unless you are fortunate to work with motivators, you need to stay focused and motivate yourself. There are things you can do and tools you can use to stay motivated but finding a business partner to motivate you is just gonna let you down in the end.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rickson9]

I'd love to hear some elaboration.

It is my belief that being able to sell is fundamental to being successful as an entrepreneur.

I believe that it is the most important skill.

I would go so far as to say that if an individual cannot sell, they will not do well as an entrepreneur and should consider another avenue for financial success.

Best regards.

 

[Rem]

Well I just look at an entrepreneur as someone who has a vision and makes it happen. Take a look at Felix Dennis in his book called How to Get Rich. He says there are a lot smarter and more talented people than himself and as an entrepreneur he hires those talented people to run his business. He knows he isn't very good at sales, so he hires top salespeople in the industry. An entrepreneur is someone who sees the bigger picture and how all the smaller parts interconnect to produce a desired result. So pulling all your talent together into one big money tree is what an entrepreneur does.

Smaller businesses, such as the one I just started, it certainly helps to be able to sell since I can't afford to hire talent. But in the end, if you are creative enough and can't sell, you can still be a successful entrepreneur. That is my belief.

 

[m1522632]

No offense, but speaking for myself, if I'm looking for a partner to help 1) share ideas and 2) motivate me, that would be a problem right there. If I didn't have those 2 cornerstones right there, there is a strong possibility that I'm not cut out to be an entrepreneur.

Another tell-tale signal is the inability to sell. That's huge, if not the biggest sign.

Good luck and best regards.

Your signals don't tell anything...most of businesses have been started by several people. So as I already said in another post, your contacts, connection and partners are more more important than all brilliant ideas or all other skills that you may have.
When you have a biz partner(s) it helps move your work forward by discussion and bouncing ideas... and yes it's a kind of motivations.

Inability to sell? Not everyone is born to be a sales manager. But if you are a successful businessman you can hire sales managers to work for you.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[m1522632]

there are several important skills. sales are important but not number one.

It's also important:
to see an opportunity and be able to use it
to have really outstanding social skills
to be able to take a risk
being creative and thinking out of the box
ok..ok.. the last one (which I don't like): hardworking

 

[Rickson9]

Your signals don't tell anything...most of businesses have been started by several people. So as I already said in another post, your contacts, connection and partners are more more important than all brilliant ideas or all other skills that you may have.
When you have a biz partner(s) it helps move your work forward by discussion and bouncing ideas... and yes it's a kind of motivations.

Inability to sell? Not everyone is born to be a sales manager. But if you are a successful businessman you can hire sales managers to work for you.

I hope you're right and that you can prove me wrong.

Good luck and best regards!

 

[m1522632]

I'd love to hear some elaboration on this.



x2 on what Jack said.

m1522632, I think that what you may actually have is a confidence problem. Which, could conceivably affect other areas such as sales. You need to believe in yourself as customers and potential partners will "smell" the lack of confidence so to speak.

I don't have any problems with confidence and actually I don't see any logics in your conclusion.
I think having a biz partner help you develop your idea further thanks to the natural process of discussing, collaboration and bouncing ideas which also stimulate and motivate.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rickson9]

You may find this useful (or not):

The Easiest Way to Succeed as an Entrepreneur | Altucher Confidential

Best regards.

 

[rcdlopez]

I normally try to avoid finding a business partner because in my view, partnering up with someone to start a business is like getting married. You both conceive and "give birth" to your business idea and therefore both of you are equally attached to the company.

And when partnerships die it can be as nasty and emotional as getting divorced.

I usually try and outsource tasks or find someone to employ on aspects which I am no good at (sales, product creation, etc) and avoid partnering up with someone if I can. You’re better off making them an employee or contractor rather than give them ownership of your baby.

On the subject of Felix Dennis, he mentions as well that ownership is the KEY to building wealth. Don’t give up ownership unless you ABSOLUTELY HAVE TO.

Similar to matrimony, I will only think about partnering up if I were to meet a partner who I regularly do business with and I go to time and time again, and we both jive well together.

I've had a few business partners in the past and sadly all of them have ended just like my relationships with women; with arguments and name calling.

So my opinion is, avoid it unless you meet that "special" business partner you do business with too often.

 

[theBiz]

@Rickson --James Altucher is god, just in a nerdy version.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DeletedUser2]

My experience in partners.
I have had good ones, and terrible ones.

the 2 I have right now are by far the best ones I have ever had.

Its best to judge your partners by what you lack.

most people pick partners because they are alot alike

I think its better to pick partners that help you do better at what you suck at.

that being said. what do YOU bring to the table? if I had to motivate my partner every day. I would be forced to shoot them

and BTW, Sales is still THE most important skill. period. behind EVERYTHING else. you come up with an idea? great, that took 20 min. you cant sell it for the next 4 months? your bankrupt.



Here is Some thing I wrote about business partners a while back

http://s3.amazonaws.com/rcsV11/rcsV11paperlessons/5-partnersV11.pdf

and the simple worksheet I wrote to pick better partners


http://s3.amazonaws.com/rcsV11/rcsV11bonuses/lesson5-partners-bonus-worksheets.pdf

These are things I wrote back in 2008 - 2009

just and FYI
'


Z

 

[andyredsox]

For me, finding the best business partner, is someone who is also a business minded person like you. So that when it comes to ideas and suggestions, there's no conflict in each of you. Someone that is taking a business seriously, and someone that will do anything for the business.