HOW TO CHOOSE A PARTNER?

Depending on the status of the company founded, the entrepreneur may have to look for a partner. This partner is intended to support him in the maintenance and development of his business. To do so, the partner must be serious, conscientious and diligent. In addition to these few stated qualities, there are other essential criteria to consider when choosing a partner.

WORKING WITH A TRUSTWORTHY PERSON

Mutual trust is of paramount importance for all entrepreneurs who work closely together to develop their business. It is therefore out of the question to choose one’s partner by means of a classic recruitment procedure or by means of a competitive examination. It has to be someone the entrepreneur knows well: a member of his family, a former colleague, a senior manager of the company whom he could raise to the rank of partner… Of course, the person has to be qualified, experienced and ready to invest in the long term for the development of the company. Above all, it is important that the chosen partner is trustworthy. It must be an honest partner who is sincerely willing to develop the company. Mutual trust is important for all partners aspiring to fame and success!

COMMON VISION AND SHARED AMBITION

The partner has the same power as the manager of the company, even if he is just an employee and not a co-manager holding a share of the company’s capital. In other words, he has full power to express ideas, propose management and development strategies. To avoid misunderstandings between partners, the entrepreneur must then look for someone who has more or less the same visions of things as himself as far as the management of the company is concerned. This avoids repeatedly diverging opinions, which have the unfortunate tendency to delay decision-making and thus the development of the company. Choosing a partner means deciding to work with an individual ready to make common cause with himself in the management of the company.

COMPLEMENTARY SKILLS

Recruiting staff to run and develop your business means bringing together a variety of complementary skills. The same logic applies when it comes to choosing a partner. If the entrepreneur excels in communication, it can be advantageous that the chosen partner be a technician at heart. If the business manager masters the art of negotiating with partners, sponsors and clients, it would be interesting if the partner of his choice is a numbers and accounting buff. In this way, the skills complement each other and the collaboration is efficient and fruitful.

THE DIFFERENT TYPES OF SOLE PROPRIETORSHIP