Have you wanted to expand your business or have a great idea and simply don’t want to go forward alone? I completely understand the feeling of moving forward with a great idea with someone who shares your passion…but if you don’t know what to expect before forming a partnership, you simply are setting yourself up for possible failure. Statistics show that 50-70% of all business partnerships fail. It is just like marriage…..it can be complete bliss or truly difficult!

The great thing about making this decision is that you can always change your mind! How many people have abandoned the alter at the last minute? Anything is possible…a great motto to have.

When choosing a business partner, look for someone who fills in the gaps..one who brings strengths to the table or that are different.

An absolute must is to make sure you both have the same values , goals, vision and expectations.

Discuss how you will both balance everything. Create a ‘what if’ list and out into place a general guideline of what you both agree should happen so it is out on the table before hand.

Make sure your partner is someone you like! You will be working very closely and actually enjoying their company is a huge plus!

What I always like to do is find someone who has this type of arrangement and interview them! Ask them questions! Get advice and take notes!! This alone will eliminate soo many questions!

The bottom line is to truly think about how having a parnter will help you reach your goals, vision, dreams. Can you swing it alone? What are the positves and negatives of making this decision?