There are many situations where an aspiring or established entrepreneur can benefit from a business partner. Maybe you’re just starting out and believing that your business idea will perform better with someone else next to you, or you have grown your company as much as possible by yourself and need another person to get on wheels with you.
It is important to know the qualities you are looking for in a business partner, but it is also important to know what to avoid. If you are looking for your ideal business partner, keep an eye on these nine types of people. Here’s why Young Entrepreneur Council experts say entrepreneurs should avoid them, as well as how these qualities will affect your relationship.
Members of the Young Entrepreneur Council advise not to partner with such people.
Photos courtesy of individual members.
1. Someone neglects that communication
Entrepreneurs should avoid partners who are not trying to be good communicators. It takes years and years of hard work to create anything, and disagreements and conflicts are inevitable. In fact, some conflicts may be desirable because someone expects your partner to challenge and push you to greater heights. Essential to resolving disagreements and conflicts in a productive and healthy way that does not cause annoyance and does not hinder the development of one’s initiative, open, transparent and empathetic communication. It is easier said than done because effective communication is an industry that has been created according to the constantly changing needs and context of the other party. As such, we can always be good communicators, and it is good to work with those of us who want to improve their communication. – Akshar Bonu, Custom Movement
2. Anyone cut corners
When looking for a business partner, an entrepreneur should literally avoid someone who has shown a tendency to cut corners. This can mean organizing previous business and not working properly with paying taxes; This may mean not treating employees or customers with respect; And that could mean an overall lack of ethical direction in business. As an entrepreneur, you should be able to articulate these ethical guidelines and your potential partner should be omnipresent on them. If they don’t, breaches of trust in the future can be fatal to the business and your personal relationship. – Kyle Mitchwood, Carolina Dodger
3. Someone who has no desire to learn
Education is the key to innovation. The most successful businessmen are the ones who are always learning. If your potential business partner has no desire or time to continue learning, you better move away. One thing we learn during the epidemic is that those who were innovative have found solutions to stay in business in the face of business instability as usual. Those who are not lifelong students tend to be more closed-minded. This feature can weaken a business relationship – especially if a partner wants to pivot or try new things. – Jared Weitz, United Capital Source Inc.
4. Someone who has another version of himself
An entrepreneur should avoid looking for a business partner who is very similar to himself. They should look for someone who lacks skills and expertise. This will help them avoid the trap of thinking that they can do everything on their own and do not need the help of others. – Christine Kimberly Marquette, Market Media, LLC
5. Someone who has no inspiration
Choosing your business partner is not a decision that should be taken lightly. There are many red flags here the biggest of which is the lack of inspiration. They may have the skills you are looking for, but you run a risk if they don’t have the motivation to do things. For example, if you work 12-hour days, it would be very frustrating for them to have only three-hour days because they do not find the motivation to work. This doesn’t mean you need someone who is a workaholic, but they need to have a sense of commitment. Otherwise, you will be picked up slack up. This quality will put unnecessary strain on your shoulders and have a negative effect on the relationship. – Nick Wendy, Stitchgolf
6. Someone who is not connected to your point of view
An entrepreneur should avoid looking for business partners who are not aligned with their vision. This will only lead to street tensions and clashes. It is important to find someone who shares your values and who you are excited about Otherwise, you will only deal with more headaches and problems. Finding someone on the same journey leads to long-term partnerships and even friendships. So, if you find a partner who shares your point of view, it’s worth keeping. – Syed Balkhi, WP Beginner
7. Someone who doesn’t question
Your business partner as an individual should not be too consensual and unquestioning. A great partnership is built on thinking and asking questions extensively to refine them. You should avoid finding a partner who can become an echo chamber of thought. This will limit your growth. Find a partner who complements your work ethic and believes in you and your point of view, but who is not afraid to take responsibility for identifying errors and correcting them at the same time. This quality, though seemingly contradictory, is actually an asset that strengthens your relationship. Avoid looking for someone who is too focused on making you happy and who agrees with what you say. It not only affects how you work together, but also the future of your organization. – Candice Georgias, Digital Day
8. Someone who is overconfident
From my experience, a business partner who thinks they know that is toxic not only for the partnership, but also for the company. I believe you need to be a free-spirited person with a global outlook to innovate and attract talent. You can’t keep talent in your company, especially a startup, if the work environment is not constructive and helpful. – Alexandru Stan, Techpon
9. Someone who is unfaithful
Finding a business partner is like finding a life partner: there are many things that may initially attract you to them — personality, skill set, network — but the quality that will keep the relationship successful is trust. You can’t create anything without true faith. If you spend half your time following someone else’s work or double-checking that you’re not burning or the ball isn’t falling, the math is simple আপনি you’re wasting 50% of your time and effort if the partnership works, and your time and If not 100% of the effort. Final Sum: This is a liability. High skills are easy to develop, but high character is difficult to develop. Character is the backbone of faith and without it you cannot have discipline, good leadership or effective cooperation. – Nic DeAngelo, we bought a quick loan