Much like a marriage, a business partnership is nothing to enter into lightly.
Here are the top 7 traits that I have found make up a desirable business partner:
Accountable: The most important trait in any partner is accountability. You want a partner who is accountable for his conduct, for his ideas, for his communications and his contributions. Accountability includes a bit of empathy, a touch of humility, and a whole bunch of integrity.
Skilled: You can’t know or focus on everything. You still need partners who balance you in expertise. If you are a finance guy, you need a marketing guy or a management guy, or a product/service design guy. And, vice versa. If you are not organized, there must be one partner who is.
Supportive: A great partner roots for your success. That’s not trivial or entirely common. There are millions of jerkwads, who silently pray and pray for your defeat. There are people in your life now who you know in the back of your mind hope you fail or at least stumble.
Sympatico: You and your business partner must walk the same path. If you want to build a business to sell in an exit and he wants to build a lifestyle business, so he doesn’t have to work that hard, neither of you is going to make it.
Inquisitive: The great thing about running a business is you never know what you don’t know. Entrepreneurship requires continued learning and challenging assumptions.
Reliable: Unreliable partners are embarrassing, debilitating freeloaders. Worse, you will end up picking up the slack. Your resentment will build into contempt. You’ll rue the day you picked this guy.
Clean-ish: If you find out your prospective business partner has a serious drinking or drugging pattern, you should probably run like hell. Sure, everyone has a vice. But, you want a partner who’s voice is in control.
Here’s an article to know about these qualities to look for in your partner: 7-traits-you-want-to-find-in-a-business-partner
