What to Look out for When Selecting a Business Partner
In business, it pays to be ruthless with your choices. There are important margins to maintain, profits to chase, and key relationships to uphold. When it comes to bringing someone on board to assist with the management of your company, being picky about who you select is absolutely vital. After all, this is the person you’ll be bouncing ideas of, relying on to bring new energy and vigor to the organization that you’ve poured your heart into. Here are a few things to look out for when meeting business-minded people that should inform any decision before entering into a formal and fruitful partnership.
You’re meeting a potential partner in a hotel lobby at 8 am. It’s 8:01 and they haven’t shown up. This should ring loud alarm bells: someone serious about their business image and inspired by yours ought will make sure the simple things, such as turning up on time, looking and feeling sharp, are meticulously planned. A minute or two late for an initial meeting can translate into your partner not coming through for you when it matters most.
A business partner is a hub of operations just as you are. They need to be connected to you, your colleagues and your clients on multiple platforms each day. They’ll know international rates, they’ll maintain an internet connection for emails, and they’ll never leave messages languishing in inboxes. Having someone’s clued-up on communication options and costs, like Viber rates on international calls, will add professionalism and cost-cutting to your company.
A potential partner might be a whizz with numbers or a mastermind of strategy, but when it comes down to the key area they need to excel in, success in business is all about socializing, networking and talking with people. This factor accounts for 85% of job success, so when you’re analyzing what a fellow businessperson might bring to your company, always monitor their social skills to see if they’ll be bringing real value and confidence to their role.
Leadership is a delicate one. It largely depends on what you’re looking for in the power dynamic between yourself and your new partner, but ultimately a confident, assertive person that’s in full control and knowledge of their responsibilities and workers is a crucial factor. If a businessperson displays any of these eight essential leadership skills, they might be the right fit to share the load of work with you in a self-assured manner that takes stress off you without worrying about the direction which your new partner might take your business!
Whether you’re looking to expand, hoping to bring in some fresh ideas, or humble enough to see your own shortcomings so that you can bolster your company’s leadership with a complementary partner, in the long-run, it’s important to choose widely – even brutally! Bearing in mind the above four key characteristics of driven and valuable businesspeople will ensure you make the right decision for the future.