A successful joint business can only be when there is complete mutual understanding and mutual trust between the partners. Therefore, finding a reliable person in this matter is as important as having a strong family.
How to choose a business partner?
Personal affections and long-term friendship alone are clearly not enough to entrust a friend with participation in your business. Here, first of all, it is necessary to assess the applicant's business abilities, his punctuality, responsibility, dedication.
When choosing a partner, the least suitable person is a person who simply agrees with you on everything. He must be able to defend his point of view and be inclined to compromise. Your weaknesses, which you know about like no one else, must be balanced by their strengths.
Such a person must have professional knowledge in a specific business area, have sufficient funds to jointly expand the business on the basis of equal rights.
It is advisable that your partner has experience in management, because you have to implement personnel decisions together.
Where can I find a reliable partner?
For some in such a responsible business, the usual submission of an advertisement is suitable: " looking for a business partner ". But perhaps you should seek the help of professional business consultants. Who knows, maybe even among your clients there are people who will agree to cooperate with you. Suppliers can also be considered as possible candidates. In any case, during the time of doing business, you probably have developed personal connections. During formal and informal events, you, of course, paid attention to the business, and not only to the personal qualities of people. All these contacts will help you decide on the choice of a business partner.
How to make the right decision?
To make such a responsible decision, it is necessary, first of all, to find out the financial situation of the candidate, what business projects he had or has, and how successfully they have been implemented. You should definitely negotiate with this person. It is extremely important that during such conversations, each of you is extremely honest. Otherwise, mistrust will arise, and then the business ship will surely sink over time.
Before signing a cooperation agreement , you should discuss issues related to the assessment of monetary investments of each of you, how management and control will be carried out, and decisions will be made. Separately, it should be discussed how profits will be distributed and additional capital invested. It should also provide for the basis on which personnel issues will be resolved, and, of course, the rights to own technology, trademark and all property are stipulated in a separate line.
And, of course, such an agreement should contain a clause on the process of suspension of the partnership.
How to draw up a contract?
To draw up a partnership agreement, either yours or lawyers specializing in such matters should be involved. This is important, because in the process of work, each of you must clearly know where his powers end and common responsibility begins. In addition, a verbal agreement can be easily violated, because no one knows for certain the true intentions of any person.
