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

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. 

Editor's Pick

Related Topics

Health & Wellness

Great Gift Alert: Limited-Time Deal on a Deep Tissue Massager for $69.97

Get this massager for 65% less (regularly $199) now through December 17.

Leadership

If You Want People to Follow You, Stop Being a Boss — 8 Steps to Truly Effective Leadership

Understand the key differences and embark on the journey from boss to leader with these eight vital steps. This article unveils how to inspire and lead teams with passion and purpose.

Franchise

How the NLRB's New Joint-Employer Rule Will Affect Franchisees and Franchisors and Redefine Franchise Relations

Discover the pivotal changes in the NLRB's Joint-Employer Rule and how they could reshape the dynamics of franchising.

Business News

One Rabbi Saw a Gap in the Market for Giant Menorahs. 35 Years Later, He's Gone From Selling 20 a Year to Thousands.

Menorah.net is on track to sell more than 5,000 menorahs this year, the most in its history.

Marketing

4 Marketing Budget Hacks That Will Boost Your Business in 2024

Use these tried and true tips to create a marketing budget that really moves the needle on your success in the upcoming year.

Science & Technology

10 Tips to Protect Your Device From Hackers While Traveling

Here are some helpful tips to protect your device from getting hacked at airports.