When it comes to online business, the majority of companies online are solo ventures. While it’s great to have the fortitude to strike out on your own, you immerse yourself into a pool of high-stakes poker where only a small few have survived. In order to keep the odds in your favor, it can be a wise decision to select a business partner who can double your chances of winning in this competitive atmosphere.
If you’re scratching your head and wondering how you’re going to find the perfect business partner, don’t worry, this is where serial entrepreneur and investor Evan Luthra comes in. Evan has successfully worked with hundreds different business partners, and has learned from experience how to immediately evaluate whether or not a business relationship will work. I sat down with Evan to talk about how you can start searching for a person who will make your business work right alongside of you.
Here are Evan’s three best tips for locating that person, making the relationship work, and shouldering an even load to encourage faster success:
1. Relationships Are Key
Evan explains the most important aspect of finding that perfect business partner is through the relationships you already have or are currently building. In essence, this only works if you can get along with the person in the first place. Mr. Luthra suggests looking at your current selection of friends before you start meandering into the wild blue for an unknown stranger. It is possible you already know and love your business partner.
The great aspect about creating a business partnership with someone whom you already have a relationship means both of you understand what it takes to make the relationship work. You possibly already know each quirk, likes, and dislikes.
Evan says, “Being friends means you already have a great relationship. Running a business together is nothing less than actually being married. I have reached a point in my life that I mostly do business with people I am friends with first.”
When a relationship is successful it means all of the necessary ingredients have fell into place naturally. For one, trust is an important aspect of a business partnership. If you cannot trust someone, chances are you shouldn’t invite them to start a business with you.
“Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
2. Know How to Balance the Load
Next, it’s essential to find someone who can do what you can’t. In other words, if your strengths lie more behind the content on the computer screen and not so much in conversational aspects of the business, you would want someone who can compliment this in your branding.
Your business partner could be an outgoing person who everyone loves to be around. That makes your brand friendly and approachable. On the other hand, when these people come to your business website, they’re getting you’re conversational writing which couples together nicely and starts the most important aspect of the business model – building a relationship with your clients and establishing trust.
When you can work hand in hand and balance the load with the skillsets you have coupled with the skillsets your partner has, make sure you define this area not by what you have, but with what you don’t have and start from there. This is another great way to counterbalance workload and responsibility within the business as well.
3. Look For A Positive Mind
In this tough world of business, any successful person has at least one great failure story. You can never celebrate getting up if you’ve never been down. It’s not possible to stand on top of the mountain without going through the valley first.
From my conversation with Mr. Luthra, I detected a solemn look as we spoke about this topic for the piece. Evan politely explained while you are looking to succeed, make sure you understand how to learn from failure. Not only should you have a positive mindset about this aspect of your business, but your partner should also be cranially resistant when it comes to failure.
Knowing trial and error are a crucial part of your business is important. This allows both partners to gradually evolve their business by being realistic with their expectations. Evan explains, “My business partners knew to prepare for the worst and not dwell.”
“If you really look closely, most overnight successes took a long time.” – Steve Jobs
The key is to stay positive, learn from your mistakes, and keep pushing forward. If you find a partner who can help you shoulder both the responsibility and the burden of a business it’s not long before you’re both seeing success.
Finding a perfect business partner is an art form. While the majority of online startups are usually “Me, Myself, and I”, you shouldn’t totally throw this idea out. The benefits vastly outweigh the negatives and there’s nothing like realizing there’s someone else out there with your goals and dreams.
When that happens, you metaphorically build train tracks, an engine, and the train cars. One set of engines may be in the front and the other set could be located in the back, but this makes no difference. The important part is, all engines are pushing in the same direction. It’s always nice to have someone help you pull the load.
What do you look for in a successful business partner? Comment below!
5 Basketball Lessons That Taught Me How To Close Consistent Sales
If you’d like to learn how to close consistent sales in your business so you can make money and be successful, sign up for the free 90-Day Master Class hosted by the founder of Addicted2Success.com, Joel Brown.
Heart pounding. Skin prickling. Unsure of what the outcome will be. Reminding myself to focus and breathe. Sales and competitive basketball have more in common than you’d think. The same tenacity, drive, and commitment that were required for success in my athletic career were the same things I needed to become successful in sales. (more…)
6 Simple but Important Ways for Entrepreneurs to Avoid Burnout
If you’d like to learn how to avoid burning out so you can have a long and successful career, sign up for the free 90-Day Master Class hosted by the founder of Addicted2Success.com, Joel Brown.
Burnout affects professionals in every industry, but it can be particularly problematic being an entrepreneur because when it’s their own business, it can be on their mind all day, every day. It is more than just a sense of being tired. It is the state of being overwhelmed emotionally, mentally and physically, to the point that you need a break in order to keep functioning. (more…)
My Company Went Vegan to Change Our Workplace and the World
At my company, a team lunch involves veggie burgers, coconut curry with tofu, and flavorful vegan falafel. When new employees on-board, we host our welcome lunches at plant-based taquerias and delis. At our off-site gatherings, you might spot employees socializing alongside our pet dogs, cats, or our office chicken, Chickpea. (more…)
How I Helped Businesses Overcome COVID-19 Difficulties Using Facebook Ads And Online Marketing
If you’d like to learn how to maximize your time during the current pandemic so you can improve your productivity, sign up for the free 90-Day Master Class hosted by the founder of Addicted2Success.com, Joel Brown.
By now, it should be clear that COVID-19 has affected businesses worldwide. The global economy has been affected and small to medium sized businesses are really suffering. Beauty salons, retail shops, gyms, and fitness centers are closing down. Business owners are struggling with cash flow issues and have no idea what to do next as most of their walk-in customers stay home. Customers are not allowed to go out due to quarantine in respective countries and some businesses are forced to shut down due to preventive measures set by the government. (more…)
The Four Ps That Influence Effective Negotiation
8 Traits of an Effective Business Leader
Drawing Boundaries is an Essential Skill for Getting What You Want
5 Keys To Success In All Relationships
Why Body and Mind Harmony Are So Necessary for a Successful Life
55 Inspirational Quotes That Will Change Your Life
(Images) 52 Motivational Picture Quotes For An Epic Year Of Success
30 Famous Quotes That Will Inspire Success In You
72 Positive Thinking Quotes For More Inner Strength & Growth
40 Rare Motivational and Inspirational Picture Quotes
3 Prince EA Videos To Change Humanities Path To Greatness
(Video) What Is Success? An Entrepreneurial Story To Inspire You
(Inspirational Video) What If Today You Knew You Were Going To Take Your Last Breath?
How To Make Enough Money From A Blog To Quit Your Job – Kate McKibbin
How Finding Your Passion And Becoming An Entrepreneur Can Lead To Happiness – Chiquita Searle
- Motivation4 weeks ago
11 Success-Boosting Motivational Tips You Need to Hear
- Success Advice3 weeks ago
16 Everyday Habits to Boost Your Creativity
- Life4 weeks ago
5 Stress Management Techniques to Find Bliss in Life
- Life3 weeks ago
5 Essential Tips for Dealing With Uncertainty
- Life3 weeks ago
Read This If You Are Tired Of Finding Excuses For Your Inconsistency
- Life3 weeks ago
8 Ways A Digital Detox Will Increase Your Productivity
- Success Advice4 weeks ago
4 Reasons Why Teachers Make the Best Salespeople
- Success Advice3 weeks ago
How to Plan Your Day for Peak Performance