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It Takes Two

. . . to tango . . . to do a lot of things. But more goes into a partnership than partners.

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This story appears in the May 2001 issue of Entrepreneur. Subscribe »

Partnerships are the most intimate relationships in business. The sins of one partner are visited on the other, and your partner's debts may become yours. Even the tightest contract won't insulate you from a crooked or incompetent co-venturer. So be careful.

First, make sure you actually need someone else. Be specific. Are you looking for money, expertise and contacts? Or do you just need someone to compensate for your weaknesses? Put camaraderie aside, and make sure your prospective business partner will truly bring something useful to the table.

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