Bringing on a business partner is a great step to advance your company

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Bringing on a business partner is a great step to advance your company

Bringing on a business partner is a great step to advance your company

When it comes to running a business, it's never easy to do by yourself.  Bringing on a business partner is a great step forward to advancing your company.  I know that when I started working online with my small start up I was doing everything on my own and thought I was efficient, but I was wrong.  I was becoming overworked and burnt out because I was working 16+ hours a day finishing work for clients, managing my own websites, answering emails, and so on.  I was beginning to miss things that were obvious because I would put them off and forget to go back to them.

Fast forward a year after I started being profitable and I knew I had to bring someone on that could alleviate some of the work so that I wouldn't be so overworked, stressed and burnt out.  It was like a blessing when I decided I wanted to bring someone on, because my friend gave me a call and asked if I had the needs for an employee.  I was super happy and said "How about partnering up and not being just an employee???" Now I knew my friend would be a good fit because he was extremely smart and already had a degree in engineering.  He designed some systems for a company he was an intern for and they still use them to this day, and that was close to 7 years ago lol.  He complimented the things I was weak at and did it amazingly, just like a good business partner should.

So that's enough about me lol.  Let's get to it, shall we.

5 reason bringing on a business partner is a great step forward for your company

Free's up your time
When you bring someone on to help you out, you're freeing yourself up in a way that you can focus on other aspects of your business.  You won't be able to just step back and watch your parnter work, you'll still have to do stuff.  You can have your business partner focus on things that you aren't efficient at and that will speed up your process because they might be better at something than you are. 

A partner can focus on things
You can focus on half of the acts per day that your business needs and your partner can focus on the other half.  If you want to just run the business and have your business partner focus on R&D to push your company even further, that's up to you.  You can flip that and focus on R&D if you want or you can do something completely different.  Think of your business partner as someone that is helping you out with difficult tasks, not someone that is just helping you out for a paycheck.

Compliments your skills with their own
A good business partner will be one that knows things you do not and you know things he/she does not.  Now you can bring people on that know what you do, but they may not be as proficient in the skills.  Let's say you're a 10/10 for SEO and they're a 4/10.  This is still good because they can pick up a campaign that you set in place if you are on vacation or sick.  If you're a bad programmer and your partner can code circles around Mark Zuckerberg, that's a great partnership because you can handle the small tasks and your partner can do the bulk of the scripts needed.

Handles work you don't want to
This isn't the main thing you want to bring a business partner on for, but sometimes is needed.  I absolutely hated answering emails when I was busy because I never had time to do it.  I would try to answer as many as I could, but if I answered them all I would be so far behind on work that was needing to be done for clients.  On the other hand, if I didn't answer the emails I would get charge backs and disputes in PayPal because the client thought that I was just trying to take their money.  I was too busy on the clients work, and my partner saw this so he stepped in to answer all the emails, which took a huge load off of my shoulders.  I was less stressed and we were more successful because he didn't mind answering 100 emails a day Bringing on a business partner is a great step to advance your company

Let's you focus on specific tasks
If you have a good partner they will know that at certain points they will have to work long hours so that you can focus on one thing.  They might know that they will have to work a 16 hour day because you're working on a website to make you both more money or you're fixing something that needs your undivided attention.  Your partner will understand and they will sacrifice their time so that you both can achieve greater heights Bringing on a business partner is a great step to advance your company

Helps with decisions
You can't always make an educated decision when it comes to running a business.  Sometimes you might make a really dumb decision that could cripple your business, but if you have a partner, they can usually tell you not to make that decision.  I've wanted to make a few big decisions but my partner did a ton of research and showed me his results, which swayed my mind for the better.  We all get dollar signs in our eyes and sometimes our partners will be able to stand in and smack some sense into us lol Bringing on a business partner is a great step to advance your company

In Conclusion:
If you are already making a good amount of money, I would suggest bringing on a business partner who will compliment your skills.  The best partners are the ones that are already smart and can learn if needed, but if they already know your niche and methods that's great.  A partner can lift burdens off of you so that you're more at ease when working.  You'll know that someone is always there to help out when you need it, and that's a great feeling when it comes to running a business Bringing on a business partner is a great step to advance your company

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I'm looking for a proper business partner for a long time now! But somehow I always seem to function better as a lone wolf instead of having one partner or multiple ones.
For years now I've tried to bring some of my friends into this business, all my attempts failed. Even though I always tried to lure the smart ones I knew had the proper skills to make it work in the long run.
They all seem to make the same mistakes and somewhere on the line, I dropped this idea altogether. It gets complicated with a partner, they might get the impression of doing too much or you might get the impression you are doing all of the work.

One of my main skills is getting clients, I good at it! So a partner that hasn't got this skills and can only implement stuff would be perfect for me, but getting into business with friends can be messy, you need to draw some clear boundaries and specific task for everybody before you start anything.
Buttom line: I always got the clients and the projects and end up doing them myself because my friend didn't hold their end of the bargaining to deliver everything on time.
Maybe I'll try again recruiting some co-workers but few have the SEO skills needed to implement the kind of projects I'm taking on a regular basis.

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It is better to have a business partner to who will help you to get done with the regular work. If it is an online business then you will have a partner who can let you be free for a few hours so you can get rest and concentrate on other aspects of your life.

If you will have a business partner then you would have options to buy new services and updates for your business. Your partner will invest his time and money. So you would not have to do it all yourself. You would have plenty of options to start a new business along with this one. your business will grow in days if someone else will be there to support you in every way.

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I agree that there are many advantages of getting a business partner, who can really work well together towards the same vision. As a stay-at-home mom, I cannot afford to go out and meet clients always. I am glad I have a business partner who does that part. He does all the client-facing work, and I just stay at home working on my own flexible hours, especially when the kids are sleeping at night. I also like that we always have discussion and brainstorming session, instead of me figuring out everything alone.

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partnership venture can be really risky if the partner is not sincere. What if he embezzles fund? However, if you need investments to upgrade your business binging a new partner can really become a great help. However, you should always partner with a person you know thoroughly. Partnership business can be good if your partner have knowledge and skills on business related work. In that case, you save money on hiring a staff.

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I understand the rationale of having a business partner. However, it depends on the kind of business that you are in. And if the prospective partner is so good in the business, that is a caveat for you. Think twice before getting that partner for he may be too smart for your own good. We had a sad experience with a business partner that we had trusted so much and in the end we were fooled by his sly demeanor.

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