to establish cooperation with a partner (or several partners) your business or to expand, take something to make it less daunting leap.
However, navigating the device and relationships with others can be difficult, especially in a business context. Whether you are considering a company, a general partnership or integration with a partner, you need to carefully consider whether this partnership-based structure is the right fit for your business.
Consider the pros and cons
Before signing any dotted lines, you should carefully consider the pros and cons of business partnerships:
benefits
- Brain Capital: Two (or three or four) heads are better than one.
- share the work: you have in the business do not wear all the hats. You can even take a vacation and leave your partner to take care of the business. You have backup. You do not even have to be in two places at. You need both a better work / life balance
- strength in numbers .: In the B2B market, you are taken more seriously if you alone a team of two or three compared to holder. Customers will realize that your business has more resources behind it, because it does
- With more people to secure access to financing .: a business loan, you may find that you easier access. Financing for your business
- support and connection .: you have someone to share success with
Disadvantages
- decision: If it is a share in equal partnership, always comes to a consensus is difficult and time consuming. There has to be a partner who can be the "tie breaker", or who gets the last word
- Stress :. Whatever your previous relationship, a partnership in a business test your ability to work successfully together, every day
- responsibility: .. you have to answer your partner (s ) - They are not simply your own boss
- [1945017Control]: you do not have total control over every aspect of your business. They are your partners at all levels must be able to rely on a good business decisions and to live with them, even if sometimes you do not agree with the way of doing things.
Find the Right Fit
in deciding whether to pursue a business partnership is only the first step -. Next, you must ensure that you find the right partner
In particular, the partnership has the right to be fit for all parties to make it succeed. Have a personal inventory of your own abilities then identify gaps that could fill a potential partner.
When a Business Partner you should look for someone who will bring a complementary set of intellectual assets for the company. To select a business partner with the exact same background, education, skills and experience is only "you two times."
havefound on the same page Get
Once you know that your partnership will be a good fit (for example, he is great at marketing and sales, while with financial planning, accounting, and business strategy big are), then you must ensure that you have the same vision, values, goals and objectives for the company.
these things together Come and. In your business plan and strategy The more you aligned from the outset are, the more successful the partnership.
Get It in Writing
When it comes to the money, you will want to make sure that you keep an open conversation with your business partners early on. There are a number of issues you need to consider:
- Who brings what in society in the form of cash, stocks, fixed assets, intellectual property, etc.?
- What is the profit-sharing agreement?
- What happens if one of the partners decides to leave the company?
- What happens if your partner is sick or not go for some reason in the business? Take pull both an owner? How much? Is it fair for the investment that you bring each?
If you include these considerations in its founding documents. If you set up a general partnership to (unincorporated), get everything in writing - even if your partner has your best friend since kindergarten, or is a close relative.
create an agreement that describes your roles and responsibilities in the company and what you are both bringing in the business financially. Your chances of long-term success are much better if you make all your arrangements, so there are no misunderstandings are.
0 Komentar