The responsibilities of running a business can often be eased with a business partner. Many people find their businesses are more successful because they’re working alongside someone competent at what they do. Furthermore, a business may profit more because of a partner’s knowledge and skills when it comes to operations, innovations or interpersonal skills.
Unfortunately, many partnerships don’t last, which can create a lot of difficulties for businesses. If you’re looking to start a business partnership or you’re currently in one, then it may help to look for these signs that a partner isn’t right for you:
1. They’re non-communicative
Communication is one of the most essential factors in a business relationship. There shouldn’t be any confusion as to what a partner is meant to do for a business. A partner who isn’t able to verbalize what they want to do or what they have done for a business may not help a business grow.
2. They lack skill or knowledge
Many people search for business partners who have a strong understanding of the business world. A partner who has been in different circles should have skills and knowledge that can be brought to a business. A partner who doesn’t have any experience managing a company may only hold your business back.
3. You don’t trust them
When people look for business partners, trustworthiness is often a key characteristic. Trust allows people to rely on their partners to run the show, metaphorically speaking, while the owner manages other matters. If you have any doubts, you need to put your trust into your instincts, first.
4. You feel like they’re overly controlling
A business partnership is all about teamwork and cooperation. A partner who wants to run a business how they see fit may not see the bigger picture or hold the same values as the owner.
A lot of times, avoiding complicated business disputes starts simply by recognizing who makes a good partner and who doesn’t. A comprehensive partnership agreement can also help avoid (or resolve) disputes.