Perfect doesn’t exist but we can always try to find what's perfect for us. Partnerships can mean many things - a successor to transition current business to, a business who offers complementary services and products, or even a geographical satellite office to help a wider base of customers. Whatever option you’re looking for, there are 5 key tips to finding the right partner for your business.
1. All in the Family
Family ties don’t necessarily mean a perfect business match so you need to establish if a partnership will work and identifying the goals of your family members.
2. List of Qualities
Create a list of the qualities your partner would need to successfully lead your company. It will help you to be objective as you interview and will help guide you to what is really important in a partner.
3. Ask Your Top Customers
A delicate conversation to say the least but it’s important to feel out your top customers regarding their opinions on your existing employees. Your partner needs to accepted to reduce the risk of clients heading to the competition.
4. Know Their Intention
If you think you’ve found the perfect partner, make sure you know that they’re as committed as you are.
5. Get It In Writing
Be clear to your identified partner about intentions and timelines. Documentation makes it official and helps develop a sense of commitment.
Positive changes to a business take planning and, many times, money. To make the most out of both, check out the 6 Things that Can Impact Your Growth Plans.