⚡ Get All Content for 20% Off ⚡

How to Choose a Business Partner (Infographic) Finding the perfect business partner isn't easy, but it can make or break your company.

By Rose Leadem

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Klaus Vedfelt | Getty Images

Finding the right business partner is a matter of chemistry. While it can be a tough, it's extremely important to find someone compatible with you and whose skills complement yours.

Related: 5 Things to Consider Before Getting a Business Partner

So what can you do to have a good partnership? For starters, understand your business and leadership style so you know what you need from a partner. Ask yourself questions including: Do I prefer coming up with facts and figures or brainstorming ideas? Do I like to plan things or play them by ear? Do I look at the bigger picture or focus on details? Questions such as these can help you understand what you can bring to the table in order to figure out what you need from the other person.

Related: Everything You Need to Know About Business Partnerships

Once you figure out the type of partner you need, there are a few other rules to live by. Before jumping into a partnership, you should know that person for at least a year so you've seen their true colors and have a solid grasp of who they are. Next, make sure your core values and beliefs line up. It would be no fun to butt heads later on. Lastly, draft it all out: Write out your partner's responsibilities, rights and exit strategy so everything is clear and transparent.

To learn more, check out Business Backer's infographic below.

Rose Leadem is a freelance writer for Entrepreneur.com. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.