Partnering for profits and who you should bring on board

Partnering for profits and who you should bring on board

When it comes to running a business, you will almost always need a partner.  There aren't many successful entrepreneurs who don't have dedicated business partners who help them run everything day to day.  I know that I was running a "successful" business before I brought in my partner, but I had too many things going on and was actually starting to get bad reviews because I couldn't get to all the work that was needed.  And if I did get the work done, I missed a bunch of emails and that eventually turned into hate-mail and charge backs because people didn't think I was doing what I was suppose to.  For this reason, I brought on my business partner who automated a ton of stuff and that free'd me up to do what I do best, bring in traffic and sales

Bringing on a partner to help you with your work doesn't mean that just anyone will be a perfect match for the job requirements.  Sure you can bring someone on and train them how to do everything, but that will just mean you're doing even more work while trying to get everything else done.  The partner you're bringing on should know about your company and fill a void so that you can focus on other things.

What you need to look for in a partner
Like Minded: 
A partner can't just be someone who is looking for a job.  They have to think and act just like you in order to achieve the most success when it comes to working online.  I could bring my mom on board to do a bunch of work for me, but she doesn't know anything in my field and would just be taking up a business role.  If I brought on someone who does marketing, web design, email marketing, etc. they will fill up a role at the company and this would free up some of my time so I can focus on other things.

Skillful:
It's one thing to bring on a partner that is like minded, but if they don't have any skills, they will just be a waste of space.  The partner I brought on had a bachelors in engineering and knew his way around software.  He was also great at talking to people and taught himself how to program in PHP, so he was extremely valuable to me. 

Friendship and Business: 
A good partner will know how to separate your friendship from business decisions.  You will more than likely make some bad decisions down the road, and if your friend isn't there to tell you you're being dumb, you will likely continue down a dark road and mess up more things.  Your business partner can't put your emotions into the equation because that will just make it so the wrong decisions are being made.  Personal emotions need to stay out of business decisions at all costs.


If you're just starting off and you want to partner up with someone, that's awesome!  It's not always needed in the beginning since there won't be as much work as you think.  I would suggest setting up everything on your own and eventually brining on a partner.  I say this because you don't know if your business is going to take off, if it doesn't, you just gave away a portion of a company that isn't making much money.  If you bring on a partner later on down the road, you can get the best partner possible because you're already generating results, which is what they're looking for.  A good partner won't just settle for $2 in the beginning, they want to see you making something and there needs to be potential.  Think of them as an investor, they want to know you're already showing potential before they will invest in you.  Your partner won't necessarily invest any money, but they will invest all of their time and effort to make the business as big of a success as possible



In Conclusion:
Not all partners are created equal and you will need to find the ones who will be the best fit for you.  You can't just get someone off of the street, I would recommend hiring someone prior to partnering with them so you can see their drive.  Find someone that fills a void in your business, or multiple ones, and you will be glad you did.


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Thanks!

Razzy