- January 22, 2010
- 0 Comments
I couldn’t agree more with Fabrice Grinda’s post on Why you Need a Partner. Perhaps I’m biased, since BP3 started with two co-founders. But I also have a lot of friends who own their own business. And I’ve worked for people who own their own business. And it just is true that very few people can be good at everything they need to be good at to run these businesses well. If their business makes enough money, they can hire the help they need to run their business. But early in a company’s life, it is really useful to have people on your team who ACT like owners (whether or not they are).
Finding the right partner can be problematic – but my recommendation is to try. Find someone who is different, but make sure that you appreciate and value the differences, rather than finding them annoying. And make sure the reverse is also true. This should be someone you would want to partner with no matter what the startup idea was – not just because this person makes sense for this one idea.
And if the partnership isn’t working, exit stage left and try again- but don’t make each other miserable. Life is too short to get stuck in an unhealthy business relationship. Make sure you have a fair separation agreement in place from the moment you form your business.