An easy-to-follow review of the best methods to find a business partner that you can trust
Finding a business partner can be a tricky process. You will wonder where to start in the first place, and even after having a shortlist of potential partners you should consider if they are as reliable as they say they are… or as reliable as you think they are.
Let’s dive into the first way of finding a reliable business partner…
Who do you work with? Who have you worked with?
Depending on your experience, you may have encountered tens or even hundreds of potential business partners.
Chances are that they are similar to you, work in the same field, and most importantly; a connection has already been made.
If, however, you have lost contact with some former colleagues that you would deem suitable to go into business with, or simply need to connect with new people… .
this is a fantastic tool to utilize. LinkedIn is essentially Facebook-for-professionals.
Many working people have LinkedIn accounts, especially those who have an entrepreneurial edge and are passionate about new business opportunities. You are certain to connect with colleagues, former colleagues and suggested people for you based on your connections.
LinkedIn is a workspace tool that allows you to network and connect with ‘colleagues of colleagues’ and so on. You can reach a wider audience and potentially find your ideal business partner.
Very similar to what LinkedIn enables but with a more personal and face-to-face feel…
Networking itself is a concept that platforms such as LinkedIn provides, as well as other methods which we will get onto. However, there are specific things that you can do to network…
You may find networking groups and events that occur near you. These are great opportunities to meet people who are open to and perhaps even actively looking for new business opportunities.
Similarly, and to kill two birds with one stone…
Attend Training Courses
This is likely your best bet to meet someone who is in the same situation as you are and looking for similar opportunities…
If you were to attend a training course, for example; ‘how to start a business’ – then you will find yourself in a room full of people similar to yourself and who may also be on the search for a suitable business partner.
At the very least, this is a great source for networking.
But what if you don’t have the time or are skeptical about trusting new people?…
Go Into Business With a Friend
Although complications can arise a sense of bias or hopeful optimism can come into play; there are many reasons why a friend or family member can be a better business partner to have than an acquaintance.
Your friend or family-business partner is likely to be more loyal, trustworthy and committed than an acquaintance would be due to the nature of your relationship with them.
If all else fails…
Become An Entrepreneur First…
…and then bring someone in.
You have perhaps already formulated a great business idea but may struggle to sell it to potential business partners. The easiest way to achieve this is to get your idea off the ground and show yourself and others that whatever you are doing – works.
If you agree, then be sure to utilize the best tools for an entrepreneur to succeed.
And our top tip for whichever method you choose and have found your (reliable?) business partner…
Unless you go into business with a family member, you are likely to not know your new business partner well enough – no matter how well you may think you know them. You should research your business partner…
…after all, going into business with someone is a very serious matter and the consequences of doing so with an untrustworthy partner can be disastrous.
So, why not conduct a quick background check with Nuwber? Conducting an online check on your potential business partner will help you gauge if they are the loyal, trustworthy and committed person you hope they are.
Nuwber background check will provide you with crucial information regarding potential police records, lawsuits, property ownership and so on.
If you have any apprehensions about doing this, remember: it’s nothing personal, just business.