While I would describe myself as financially secure and profitable I still am a bit wet behind the ears on business partnerships. These are some of the general attributes I found in partners in good business partnerships. I think I have had about a half dozen great business partners so far. Here are brief descriptions on some of the things that made some of them great.
Hey Asshole! If a person is willing to tell you that you are a piece of shit or that you are screwing up it is much easier to trust them and their motives than the average person email spamming you with the Joint Venture opportunity of your lifetime. If they are willing to be blunt and honest with you then you have to respect that. I found at least 4 great business partners this way.
Questions Authority: When people are willing to ask but why they not only show the courage to tell you when you are full of crap (and thus help you make better ideas) but they also are going to be more likely to find other ideas that help you out-market the competition or find holes in relevancy algorithms to outmaneuver the search engines. Where conventional wisdom is wrong great profit potential exists.
Most authority systems are hypocritical garbage designed to increase the wealth or power of the authority figures or rule makers. If you are willing to look at them from that perspective it is much easier to find potentially profitable opportunities and algorithmic holes.
Believes in You: One of my friends quit his job and is working full time building out a website for me. Behind his computer on the wall he actually wrote the word FOCUS in big black marker. After about a month of consistant growth yesterday was the first day that the website paid over 100% of his living costs (including his somewhat expensive home mortgage).
Focuses on Automation: It depends on your business models, but if people think of the scalability or ease of replication of a business model at launch that is going to typically lead to a much higher profit yield than a person who starts creating before they think about profits or automation.
Has Different Sources: Their sources may be their own experiences or channels that are not typically read by most people in your market, but generally if people can pull value from sources that are generally overlooked in your industry that is a good sign for the value they can create.
It is hard to make money doing the exact same thing everyone else is doing.
History of Execution:
One of my hyper-successful friends and business partners recently said
I do think it is all about execution though and we will not be out executed.
Having too much confidence can be a bad thing, but if you have partners that have shown the ability to follow through it is a great sign to hear them that confident.
Excitement: A person who feels they just deserve to be successful may not add much value to whatever you are doing. A person who is hard working and excited may not realize their value an / or can be trained to produce valuable work, and will be much more malleable than someone who is already stuck in their ways.
What attributes do you look for in a business partner?
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