The Qualities Of a Business Partner You Must Consider According to Rick Contreras and Phillip Kramer, you can either have a smooth process or struggle even worse depending on the partners you choose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Getting into business is daunting, whether you're doing it alone or have partners. According to Rick Contreras and Phillip Kramer, you can either have a smooth process or struggle even worse depending on the partners you choose. This is why it is imperative to know what to look for in a business partner.
Even before discussing the details of your business, Contreras recommends that you start by prospecting business partners. Everything comes together once you gauge their views, work ethic, and general direction in business. Kramer explains that while most people go for experienced business partners, it is not a guarantee of success. What matters is the qualities that this person brings into the equation.
Some of the most sought-after qualities in a business partner include passion, willingness to take risks, industry knowledge, work ethic, business skills and so much more. However, according to Kramer and Contreras, innovation and creativity are the top qualities to look for. With these qualities, they are able to generate new and fresh ideas, look into the future and creatively solve challenges facing the business.
With a creative and innovative business partner, especially in the digital transformation era, you can be sure that you will stay ahead of the competition. People who are dedicated to growth will always find ways to achieve their goals and stand out from others playing in the same space. Therefore, as you look for a business partner, Kramer recommends that you look for someone who will help you drive the business forward, one who sees its bigger potential and is not afraid to drive it there.Contreras further explains that a good business partner should complement you in many ways. While you share the same goal and vision, you both must specialize in certain areas of the business to allow for a smoother run.