Starting your own business from the ground up is quite a bold step. It is a considerable challenge, especially if you’re on your lonesome and have to get everything up and running yourself.
That is why, ideally, you’d find a business partner to share that sweet burden of raising your fledgling business and turning it into a serious brand on the market. After all, a successful business partnership is your ticket to the big leagues.
I’d like to share with you six tips on how to find a business partner in 2022.
Describe your perfect business partner
You want to have a clear idea of who exactly are you looking for. Paint a picture, as detailed as possible, to determine the perfect kind of business partner for your company. Do you want a veteran in the field, with experience in management, or maybe a technical expert? Would you feel more comfortable with a business partner representing your own cultural demographic, or maybe you’re open to cooperating with someone from an entirely different background?
Evaluate your own strengths and weaknesses and look for a partner who will complement your competencies and nullify your shortcomings.
Polish your business plan
Work hard on making your business plan look like a worthwhile investment. Take your time and be ready to answer any and all questions potential business partners may ask. If you put in real effort and are ready to explain in detail your company’s products and services, future goals, and marketing plans, you’re that much closer to securing a good partnership.
Use your connections
Your ideal business partner is already out there, and chances are, they’re not necessarily far. You might find a potential partner if you ask around, so call on your friends and family. It’s not an uncommon practice to look for assistance within your closest circle, and those dearest to you might have a good idea of what kind of person would be ideal. You need to keep in mind, though, that friendships or deeper connections often aren’t a guarantee of a successful business partnership.
When you’ve asked your family and friends for some recommendations or just keeping an eye out, you can move to your own former colleagues or past clients. Of course, it’s largely a matter of how good your relationship is, but if you’ve parted ways on a positive note, it’s certainly worth a shot. Bear in mind that non-compete agreements are a thing, and your former client or colleague may be beholden to such a promise.
Keep track of industry events
Ideally, you would attend every event relevant to your business. Keep an eye out for conferences relating to your line of work, as well as lectures or open seminars. They are a goldmine of potential business partners or meaningful connections that might prove useful in the future.
Plus, you want to be up-to-date on all matters regarding your company so potential partners know …you mean business. Being an ever-present fixture at such events means you’re serious and proactive. These two traits will definitely appeal to a business partner.
Upgrade your social media accounts
Your online presence is a key factor. You want a potential business partner to have an opportunity to learn about you before agreeing to anything. That is why you need to brush the dust off your social media accounts and give every piece of relevant information.
Upgrade your LinkedIn profile by uploading professional-looking photography (as much as we pretend otherwise, we do judge the book by its cover), check if everything that’s been written is correct and if there’s anything else you can add.
Good business partners will always do their research and have a quick look at what kind of person is looking to convince them to work together.
Visit entrepreneur network websites
To find a business partner you should try your luck on websites dedicated to people such as yourself. Internet sites such as CoFoundersLab, StartHawk, LinkedIn, or AngelList give you the means to search for a partner online.
Some of them, like CoFoundersLab, will allow you to create a profile, and the AI algorithm will play the match-maker. It will assist you in finding exactly the kind of partner your business needs.
StartHawk, AngelList, and many other websites are also worth a try as there you’ll find plenty of entrepreneurs looking to partner up, investors, or co-founders. These websites are where business partnerships flourish, so be sure to check them out.
Let’s summarise
To find a business partner you need to put in some real effort. After all, it’s not just about finding any partner, but one that will help you grow, and whose cooperation will mean the future of the company is secure.
You need to write up a good, convincing business idea, figure out what kind of person you want to work with, as well as activate your contact network. You mustn’t also forget about attending events relevant to your line of work, and take advantage of entrepreneur network websites. If you follow these tips, you should be able to find exactly the right kind of business partner.
