The right partner won’t have too many personal problems
An individual who is dealing with addiction, a failing marriage or other issues at home may struggle to focus while at work. If your partner has too many personal problems, you may end up shouldering the burden of running the company while your partner spends his or her time doing something other than helping your organization get stronger.
Your partner should have skills that you lack
It is unusual for a single person to have mastered all the different skills needed to run a business. For instance, you may be great at creating spreadsheets but have a hard time developing relationships with customers. In such a scenario, your partner should be someone who is good at developing those relationships while you focus on the administrative side of the company.
A business partner should bring something of value to the organization
Anyone who has an ownership stake in your business should be able to add something valuable to it. For instance, this person may have connections within your industry, a customer list or expertise that few others have.
If you need help finding a partner, a business law attorney may assist you with determining the characteristics that this person should have. After you have found a partner, your lawyer may draw up a partnership agreement or other documents that govern the relationship that you have with this person. Finally, a legal professional may represent your interests if you have a dispute with a fellow owner.
