Why have a business partner? Especially if you’re running something like an internet or network marketing business that doesn’t require renting an office space or product fulfillment. Well, very high up on the priority list is that sharing the load with someone else can literally make getting a job done fun. And fun, or enjoying your work, is a huge plus toward effectiveness and success. But here are the more rational reasons, should having fun not be enough of a motivator.

1.    Double Effort:  Two people can get done at least double the work volume of one, and often more than double. This is because when there is true symbiosis, energy and enthusiasm are amplified so more effort is focused where it needs to be, and more consistently over time. There is nothing more effective for long-term success than a good business partner!

2.    Momentum:  A business partner will fill in the gaps for you, as you will for him or her. When one of you is sick, on vacation, or just burned out, there is another person to take up the slack. When you have hit the wall and have no creative energy left to work on a particular project, your partner can take up the reins and keep things going while you recharge. This sharing back and forth sustains trust in the partnership and continually feeds energy into the business, creating much more momentum than you will have on your own.

3.    Financial Support:  There are two of you to share expenses. Yes, and profit too. But you can’t start making a profit until you become successful, and every business requires capital in order to reach that point. Not only for start-up costs, but for ongoing expenses, advertising and marketing, and so on. It is much easier to afford these expenses when you’re sharing them with a business partner, plus you’ll be far more inclined to take advantage of options you might not even consider were you paying for them by yourself.  

If this isn’t enough to convince you to get a business partner, we don’t know what will. And if you’d like to check out one of the resources that best helps us in our own partnership business, be sure and visit the link provided below.

So buddy up! And have fun while you’re at it!

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Have you and a good friend ever gotten excited about going into business together – actually being business partners? You’ve cooked up an idea about something you would both love to do, and the thought of doing it together makes it doubly enticing. And of course when you picture this new venture, it is with visions of incredible success and money, maybe even fame.

Think twice. We’re not saying your best friend might not make a good business partner; we’re simply saying to take a good hard look before going forward together. It is as possible that the association will end up in a disastrous end to the friendship as it is that it will fulfill your visions of success — in fact the odds are probably greater for the former outcome than for the latter. So if you want a business partner — and there’s every reason you should – think through those aspects that will influence success and choose that partner wisely. Here are three main areas to focus on when thinking about going into business with someone.

1.    Skills – Do your respective skills complement each other? You don’t want to be just alike. You want your respective strengths to fill in each other’s weaknesses, simply said. For instance, if one of you is highly creative and loves to design graphics and is a good writer, the other should probably be a good bookkeeper and highly business-minded. Think right brain vs. left brain . . . creative vs. down-to-business  THAT kind of match makes a good team!

2.    Managing Money – Do you and your prospective business partner agree on the general monetary game plan for your business? Are you in sync about budgetary matters? How will you manage your accounts jointly, especially if you are, for instance, doing an internet business and are in different states? How will you pay the bills? Are you organized enough to take care of this niggling detail, and who will be in charge of it? Money, unfortunately, is usually the biggest area where conflict can develop, so be sure you and your partner are in agreement about how you manage it.

3.    Practical Matters – This would be things like who does what. If you have a business that sells widgets, then how and from whence do those get mailed? Who takes the orders? Who makes sure the website gets updated, and how often, etc.? There can be dozens of these more practical details that have to be attended to every day (yes, even when one of you is on vacation), so making sure that between you and your business partner, there is a plan for them, is absolutely essential.

You probably get the idea by now. A business partner is a fantastic thing to have. We encourage it. And if you’d like to learn more about one of the ways we successfully promote our joint business, please go to the link provided below.

Here’s to you and your perfect business partner!