You can still be a self-employed worker and have a business partner. You can even have employees. But finding the right business partner is sometimes easier said than done.
There are obvious advantages to starting a business with another person, such as being able to share the work, the satisfaction of having your own business and its success.
You also have someone who understands your fears, worries and fatigue. But that doesn't means you should partner up with just anyone.
It's important to choose a partner who has the same interests and the required experience to effectively contribute to the business's success. It also helps if the two of you get along, respect and trust each other.
Sometimes you have to really look hard to find the right partner. If no one you know is willing or able to take on this role, you might want to consider placing an ad in your local newspaper. You can even tell friends, family and acquaintances that you are looking for a suitable business partner. But be ready when the phone rings. Prepare an interview, analyze the candidate's resume and check his or her references. You can even prepare a chart to analyze whether or not the candidate's skills and interests match the potential work and responsibilities he or she will face as your partner. Above all, try to remain objective.
Some questions you can ask include: Why are you interested in this type of business? Why are you looking for a partner instead of doing it on your own? What are your biggest career accomplishments? How do you foresee handling financial matters, such as sharing costs and profits? As always, consulting an expert is a wise idea before creating any partnership.
