Choosing a business partner

This flowchart will help you figure out the best type of business partner for your start-up. It was created by The Business Backer.

Entrepreneurs might be likely to rush into a relationship based on a potential partner’s best qualities.

This infographic uses a flowchart to help the start-up founder to recognize the kind of person that they are, and the kind of person with whom they will work well in the new business.

It’s important to get to know a partner fully before committing to a business relationship.

And even if you know them well, it is good practice to create a document that outlines the rights and responsibilities that each partner has – in good times and bad.

Business partner infographic highlights:

  • Business partners can be divided into eight categories: communicators, global viewers, observers, visionaries, risk takers, practical thinkers, decision makers, and planners.
  • It’s important to choose a partner whose skill set complements your own.
  • You should know your partner for at least a year before signing anything. Think of it as a ‘dating’ process.
  • Sharing core values with a partner can be just as important as finding someone with the right background.

If you’re thinking of committing to a business partner, run through this flowchart before making any big decisions.

how to choose a business partner infographic

This infographic has been published by The Business Backer.

Share this infographic if you think it’s worth sharing. We are always curious what you are expect to find on the ToolsHero platform. We would like to receive your vision, suggestions or comments on this infographic. With clear infographics we want to help our visitors with this information for their personal use or you can apply it for business issues.

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