Choosing the right partner for your business can be life-changing… in both a GOOD and a BAD way. Unfortunately, most end in the later (and they can get quite messy).
I personally know 11 different people in the “online marketing” space that saw their business ended with both partners suing each other. Of course, there are many factors that lead to these businesses imploding – but here’s one commonality I witnessed.
The Partners Skills Were Too Similar
That’s right – there were too much alike. In order for it to work, you must choose someone with complementary skills. For example…
The Starter: If you enjoy coming up with the big ideas. And creating the products and marketing funnels – but you are not the details person – you CANNOT team with another “starter”. You need a “finisher”.
The Finisher: If you like doing the day to day and the details… and you enjoy split-testing and conversions, you are the “finisher”. The best fit for you is a “starter”.
When two excited “starters” get together – there are lots of great ideas, but nothing gets done. Or, if it does finally get launched, it dies quickly as they both bore of this business quickly. This leads to hard feelings and a split.
When to “finishers” get together – nothing really gets started. Lots of talk and detailed market research. Maybe they even try to raise funds, but alas, this too falls apart after years of work and no money in the till. The ends result is the same.. they split.
Take emotion out of it and find the RIGHT partner.
P.S. If you want to build your own business with no partners and tons of recurring revenue – here’s your answer.