How to Find the Right Business Partner in Your Sales Career
Finding a business partner in sales is the easy part. But finding the RIGHT business partner is easier said than done.
When looking for a potential partner, a lot has to be taken into consideration in the decision-making process.
There’s an opportunity cost and a risk-benefit analysis that must be carried out. You don’t want to end up with a lemon, after all.
The decision is not as simple as finding someone who has the same amount of experience in sales as you do or finding someone with whom you can go on an adventure together.
You must be aware that, once the business relationship is formed, it will no longer just affect your life. It will also affect your partner’s life and their family’s life.
Let’s first discuss what exactly is a business partner.
Table of Contents
What Is a Business Partner?
A business partner is someone you on-board into your sales career to help you with various aspects of it. This could be:
a) Handling and managing the inventory of products that need to be sold; b) Handling the day-to-day operations of the business – order processing and fulfillment; c) Handling customer queries – both on email and phone; d) Coordinating with various players in the supply chain to ensure smooth and efficient flow of work.
A business partner is someone you will have to rely on solely and trust, especially when it comes to crisis management. This is why you must do your due diligence and find the right person.
Why it’s important to find a Good Business Partner
Many entrepreneurs may not realize early on that your business and goals will correlate with your everyday life outside of work. In other words, any personal conflicts you may have will affect your partner and your business.
Your business is an extension of your life, so it’s important to have a strong foundation on everything that is built. This means having someone you can work with seamlessly, without disagreements about vision and goals.
Whichever partner you decide to work with, if they’re positive-minded, that’s what you’ll be inheriting and vice versa. If they have intense mood swings, that’s what you’ll be dealing with. If your partner has the vision of taking over the world, that’s what you’ll be a part of as well.
It doesn’t matter what your sales goals are. If the chemistry between you and your partner is bad, your business will suffer.
Every day, the decisions you make will be affected by how you think and feel about each other if the relationship is not strong enough.
It’s time to get real. If you’re in a bad place in life, looking for a business partner won’t solve it all for you. But what it can do is give you a solid foundation to build your life and career on, with someone who will help you every day.
Here’s what to consider when looking for a business partner:
Five Qualities to Look For in Finding Potential Business Partners
Find someone who compliments you in terms of energy and approach both at work and in play; do not look for someone to fill in the gaps.
1) To find the right partner, look for someone that is mentally stable. This person will help you carry the weight of your business.
Look for someone who is not only strong-minded but also positive and upbeat.
It’s important that you and your partner can handle stress and problems together gracefully.
If your partner is not mentally stable, you will be dealing with all of their personal issues as well. You will notice how unreliable they are, and it will affect your business and priorities.
2) When looking for potential candidates, make sure they are extremely hard workers. When you have a hardworking partner, you will feed off of their energy, and you can go full speed in reaching your goals.
A hard worker can put in all the required hours and still feel fulfilled. They also have their own time for self-care and downtime after work, so they don’t burn out quickly.
A good business partner will recognize when to take a break from work life and re-energize themselves outside of business hours.
3) Make sure your partner is as committed and dedicated to the business as you are.
If they are not, you will have to play the dual role of doing both tasks.
This person is your partner, and you need to rely on them in every aspect of the business.
You want to act on decisions together, so it’s important that you both can push for what needs to happen in the company.
4) You want your potential business partner to be ethical with great integrity. The last thing you need is a partner cutting corners, and it comes back to bite you down the road and disrupts your business and goals.
You want positive energy and positive karma around at all times. If your business partner is a good person and is ethical, you’ll feel a positive aura when planning and executing new ideas.
5) You need to find a talented business partner with great skill sets. This person will be the mastermind who helps bring all of your ideas to life.
At the end of the day, you both have to believe in each other’s expertise and talents.
You also have to learn from each other as well. If you have a strong motivation to succeed with a business partner who is talented and works as hard as you do, there is a higher chance that your business will succeed.
Regardless of the industry, find someone with a complementary skill set to yours. This means they need to know what you don’t know and vice versa. You must work together and understand each other’s business acumen.
If your business partner is manipulative and only looking out for themselves and doesn’t recognize the power of working together, it can be a serious problem.
If this person does not share the same business goals as you, they will become a liability to your business rather than an asset.
How To Go About Finding a Business Partner
Look at people you already know. People you are close with or work with can be potential business partners.
You could find the perfect person in the process of doing business on a daily basis, so keep your eyes open for someone who is professional and matches the qualities outlined above.
You need to trust this person, so it’s important that you have some sort of relationship with the potential candidate.
You can become friends with many people online before starting a business, so don’t rule out strangers just yet.
If you have not found your perfect match or cannot seem to find someone who is right for you, you can always look online to find potential business partners.
Networking is one of the best ways to meet other professionals in your industry who are potentially strong candidates for a business partnership.
You can also network through associations, groups, and forums that are either local to you or global.
Many websites connect with people who could potentially become business partners.
You must use caution when searching for potential candidates online.
When receiving messages from strangers, make sure they come from someone with reputable credentials and experience in the industry before giving them your personal information or sending money to partner up.
What Can Ruin a Business Partnership
Many things can go wrong in any given relationship. You won’t fully know if you and your partners are a great fit together until you go through turbulence and make it out stronger together.
Two things to look out for that can completely ruin a business partnership:
1. Ego
Having an ego is a recipe for disaster in a business partnership.
If you don’t keep your ego in check, you will allow your emotions to eat at you and the development of your business.
Instead of getting things done effectively and adequately, you’ll worry about who came up with the idea, what other people think of your business relationship, who’s the boss, etc.
Having an untamed ego will stunt the growth of your business and partnership.
2. Poor Communication
It’s tough to get through any business day without communicating with people, especially your partner.
You need to communicate not only about the general business operations of things, but you also have to express your feelings and emotions.
Being open and honest is crucial in any partnership. If you can’t be honest with each other, your partnership will become dysfunctional.
The best way to combat poor communication is by learning about each other.
This means that both of you need to be open about what’s on your mind and talk through problematic situations constructively to work towards a resolution.
Be open with what you’re thinking and feeling, talk through problems, and try to resolve them while compromising on both sides.
You can’t expect your partner to know exactly what’s on your mind – otherwise, they would be psychic! Remember that communication is key to making any partnership work.
How to Sustain Strong Business Partnerships
Excellent business partners keep in mind that this is a “partnership,” and your success is their success.
You must be excited about a huge deal made by your partner as if you closed the deal yourself. Business partners must breathe, think, and feel as one.
You should always have your partners back, even in the darkest times.
Remembering this and acting on it is important because you need to support each other at any given moment and under any circumstance.
You and your business partner/partners are birthing and raising a baby if you think about it. So to be successful at this, the home needs to be in order for future success.
How Do I Find a Startup Business Partner?
Here are some tips on how to find the perfect startup business partner:
First and foremost, make sure that they share the same passion as you do about starting and growing this new venture.
Another thing to consider is whether or not they have the financial resources to invest in your business.
Last but not least, make sure that they are well educated and experienced enough to take on this potentially life-changing opportunity with you!
A perfect startup business partner is someone who comes from a similar background as you – hobbies, values, educational attainment, etc. The more familiar you are with one another, the better!
Also, make sure to find someone who shares the same level of commitment and energy when working on this business together.
How Do You Attract Business Partners?
Attracting business partners can be challenging in the early stages of your career, especially when you are just starting.
One easy way to attract a potential business partner is to work your behind off consistently. Successful individuals want to be around other successful and hardworking people.
If you work hard and keep a positive attitude, you will attract many people to partner with you.
Another way to attract potential business partners is to join professional organizations, networking groups, associations, or clubs.
You are putting yourself out there as a potentially great business partner by making yourself visible in these networks.
Last but not least, make sure that the people around you know what your goals are and what you want to accomplish.
This will make them come to you for guidance and support as you work toward those goals.
How Hard Is It To Find The Right Business Partner?
Finding the perfect business partner can be a difficult task, especially when so many people out there want to be your partner. To find a great business partner, you first need to know what you’re looking for.
Next, understand that potential partners will come from many different sources – family, friends, school, work, etc.
It’s important to consider these networks when finding a business partner because they are more likely to have similar interests and values as you.
Remember that sometimes the best people do not come from the most obvious places. Don’t be afraid to reach out and find new people in your life who you can work with!
The right business partner is not afraid of hard work, has a strong sense of self-discipline, and knows how to manage their time correctly. They are also very passionate about what they do.
Is there a Website To Find Business Partners?
Yes! Here are a few great websites to help you find potential business partners, and even investors:
This website has helped entrepreneurs worldwide by assisting them in raising money for their projects and startups.
This is matchmaking for entrepreneurs. This website is focused on matching people who have been through the same experiences and who have similar mindsets about entrepreneurship.
Remember to think outside of the box when finding a business partner because it can be challenging to find one right off the bat.
What Are Some Benefits Of Having A Business Partner?
Having a business partner will help you build your business faster and at a higher rate than if you were to do it alone.
Your business partner can fill in the gaps you may have missed or overlooked, allowing your business to grow even more.
Also, partnering with someone else can help you keep a positive attitude and work ethic and teach you important lessons about life and business.
Having a business partner also allows for creativity and innovation because two different viewpoints will make the same project or product much better than one person alone.
How To Find a Financial Business Partner?
The first thing you want to do is find someone who has the same values you do.
Be sure that this person is similar to you in your thoughts about money and work ethic. If not, it may be hard for both of you to understand each other.
Next, look within your networks or circles for potential partners.
Just like we mentioned earlier, this means that your family and friends may be a great place to look for potential business partners. There is also the possibility of finding them on job sites and at work!
Remember that there are many different types of financial business partners – those who give you money, those who join you in investing money, etc.
So there are many different ways to find potential financial business partners! Just remember to look within your own networks first and foremost.
There are also websites that we previously mentioned for you to search and look.
Conclusion
Having a business partner can help grow your businesses, no matter what industry you are in. Remember that this person will be your best friend and your coworker, so finding someone with similar mindsets about work ethic and entrepreneurship is key!
Also, always look within yourself to see who may be the right fit for you as a business partner. You do not necessarily need to go on websites or reach out to people you don’t know – the right person could be sitting down the hall from you!
You will not regret investing in yourself and your business by finding a partner to help you grow.
