how do you find a good business partner
I’m gonna answer that question in
today’s episode of lunch and earn so
Risa got asked a question for one of my
YouTube followers love you guys Chris
concrete who wrote in this a I’ve been
let down by business partners several
times over the past couple years I guess
I wasn’t using the right standards to
value and business partners because they
were my friends I always seem to be the
one that come up with great ideas and
get everyone pumped up to cheap success
but then after a short time I’m the only
one still dedicated to the task I
suppose maybe different for every field
but could you make a video if you have
when I’m ready on how to find a good
business partner this is an amazing
question and one that I don’t think
enough people put real thought into the
challenge is at the start of a business
everybody’s excited right you have
nothing but hopes nothing about
potential nothing but you know big
dreams and you’re running on fumes and
energy and adrenaline and anybody who
looks good like yeah let’s do this
business you’re all excited to work
together and the challenge typically is
you find people who don’t share the same
values as you do and so yes you need to
have people who have the same who have
complementary skills why not people who
complement your weaknesses so you know
if you’re starting a programming company
you have someone who does a program when
somebody does the business side right a
lot of the tech companies of most
successful ones was started by
co-founders and it can really help boost
your success to have a partner because
it’s so hard to do everything yourself
and if you can complement that with
somebody else
it really helps shortcut that path of
success but having somebody with the
right skills isn’t enough you need to
have somebody who values the same thing
as you do works just as hard as you do
believes in the dream just as much as
you do and not enough people take the
time to really find that right person
and I said that just dive in and six
months later they end up saying what did
I get myself into so I’m gonna give you
three ways on how to find the right
business partner for your company number
one is look at people you already know
and I know you’ve been burned by friends
in the past and the the challenge of
working with friends is that you don’t
want to lose your friendship and grew in
that relationship but you need to be
able to work with people who you can
spend a good chunk of time with right
the way to find a co-founder isn’t just
to put up an ad on Craigslist and say
hey any a co-founder for my business
it’s looking at the people who are
already in your circle of friends and
your you know friends of friends people
who have some kind of association with
to get a sense of is this somebody that
I can spend a lot of time with because
you’re probably gonna spend more time
with them then your wife or girlfriend
or boyfriend or husband you’re spending
a lot of time with these people and it’s
got to be somebody who you can be around
and share those same values and the
easiest place to start is within your
own circle of friends number two is hang
out in the community that you want to be
a part of if for example you are looking
for a programmer to help you I would
start hanging around places where
programmers go if you have you know if
you don’t know any programmers yet you
have zero friends in the programming
community start hanging around that
community and you will start to meet
people go to their events attend their
seminars chat with them online right
just hang out and be a part of that
community and let people know what
you’re trying to do and you’ll start to
attract the right kind of people to you
to understand your business to help you
move your project forward and so as an
example I’m in the salsa business right
I’m have really invested in the salsa
business now and I’ve met a lot of great
people through the salsa business the
person who I hired to run the salsa
company is from the salsa community and
so by hanging around the community I get
to meet and know people who can then
help me grow that business and so the
solution isn’t just sit on the computer
and do nothing and sit at home and be
frustrated upset that you can’t find the
right business partner it’s going out
and making a new circle of friends where
your target partner is going to be start
hanging around those people start making
connections start learning from them and
talk about your idea what you’re trying
to do and you’ll start getting people
gravitate into you ask me questions want
to being a part of what you’re all about
and number three is start with a small
test this is the biggest mistake that I
feel most entrepreneurs do they rush
into a
partnership way too early again because
that looks so great on the surface it
looks so amazing there’s nothing but
dreams and hopes and possibilities and
then life gets in the way and you don’t
get the results that you want fast
enough and it’s taking you longer and
it’s more expensive and more
time-consuming and that’s when things
start to fall apart and that’s when you
really discover who these people are and
so the easiest way to get started is not
just to give up half of your company to
your partner here is to do a small test
work together on a small project see if
you like working together see if it
works see if you’re gelling off of each
other and then expand to a bigger test
and then a bigger test and then slowly
give them equity in the business if they
earn in and if you feel like this is
something that can really work I feel
most people don’t test it and I feel
that’s why most partnerships will family
so look at the people that you already
know hang out in the community that you
want to be a part of and start with a
small test believe thank you guys so
much for watching I would love to know
how you guys have gone out and found a
business partner or any stories you have
good or bad about business partners
leave in the comments below I’m really
curious to find out thank you for
watching continue to believe and I’ll
see you soon
I’m gonna answer that question in
today’s episode of lunch and earn so
Risa got asked a question for one of my
YouTube followers love you guys Chris
concrete who wrote in this a I’ve been
let down by business partners several
times over the past couple years I guess
I wasn’t using the right standards to
value and business partners because they
were my friends I always seem to be the
one that come up with great ideas and
get everyone pumped up to cheap success
but then after a short time I’m the only
one still dedicated to the task I
suppose maybe different for every field
but could you make a video if you have
when I’m ready on how to find a good
business partner this is an amazing
question and one that I don’t think
enough people put real thought into the
challenge is at the start of a business
everybody’s excited right you have
nothing but hopes nothing about
potential nothing but you know big
dreams and you’re running on fumes and
energy and adrenaline and anybody who
looks good like yeah let’s do this
business you’re all excited to work
together and the challenge typically is
you find people who don’t share the same
values as you do and so yes you need to
have people who have the same who have
complementary skills why not people who
complement your weaknesses so you know
if you’re starting a programming company
you have someone who does a program when
somebody does the business side right a
lot of the tech companies of most
successful ones was started by
co-founders and it can really help boost
your success to have a partner because
it’s so hard to do everything yourself
and if you can complement that with
somebody else
it really helps shortcut that path of
success but having somebody with the
right skills isn’t enough you need to
have somebody who values the same thing
as you do works just as hard as you do
believes in the dream just as much as
you do and not enough people take the
time to really find that right person
and I said that just dive in and six
months later they end up saying what did
I get myself into so I’m gonna give you
three ways on how to find the right
business partner for your company number
one is look at people you already know
and I know you’ve been burned by friends
in the past and the the challenge of
working with friends is that you don’t
want to lose your friendship and grew in
that relationship but you need to be
able to work with people who you can
spend a good chunk of time with right
the way to find a co-founder isn’t just
to put up an ad on Craigslist and say
hey any a co-founder for my business
it’s looking at the people who are
already in your circle of friends and
your you know friends of friends people
who have some kind of association with
to get a sense of is this somebody that
I can spend a lot of time with because
you’re probably gonna spend more time
with them then your wife or girlfriend
or boyfriend or husband you’re spending
a lot of time with these people and it’s
got to be somebody who you can be around
and share those same values and the
easiest place to start is within your
own circle of friends number two is hang
out in the community that you want to be
a part of if for example you are looking
for a programmer to help you I would
start hanging around places where
programmers go if you have you know if
you don’t know any programmers yet you
have zero friends in the programming
community start hanging around that
community and you will start to meet
people go to their events attend their
seminars chat with them online right
just hang out and be a part of that
community and let people know what
you’re trying to do and you’ll start to
attract the right kind of people to you
to understand your business to help you
move your project forward and so as an
example I’m in the salsa business right
I’m have really invested in the salsa
business now and I’ve met a lot of great
people through the salsa business the
person who I hired to run the salsa
company is from the salsa community and
so by hanging around the community I get
to meet and know people who can then
help me grow that business and so the
solution isn’t just sit on the computer
and do nothing and sit at home and be
frustrated upset that you can’t find the
right business partner it’s going out
and making a new circle of friends where
your target partner is going to be start
hanging around those people start making
connections start learning from them and
talk about your idea what you’re trying
to do and you’ll start getting people
gravitate into you ask me questions want
to being a part of what you’re all about
and number three is start with a small
test this is the biggest mistake that I
feel most entrepreneurs do they rush
into a
partnership way too early again because
that looks so great on the surface it
looks so amazing there’s nothing but
dreams and hopes and possibilities and
then life gets in the way and you don’t
get the results that you want fast
enough and it’s taking you longer and
it’s more expensive and more
time-consuming and that’s when things
start to fall apart and that’s when you
really discover who these people are and
so the easiest way to get started is not
just to give up half of your company to
your partner here is to do a small test
work together on a small project see if
you like working together see if it
works see if you’re gelling off of each
other and then expand to a bigger test
and then a bigger test and then slowly
give them equity in the business if they
earn in and if you feel like this is
something that can really work I feel
most people don’t test it and I feel
that’s why most partnerships will family
so look at the people that you already
know hang out in the community that you
want to be a part of and start with a
small test believe thank you guys so
much for watching I would love to know
how you guys have gone out and found a
business partner or any stories you have
good or bad about business partners
leave in the comments below I’m really
curious to find out thank you for
watching continue to believe and I’ll
see you soon
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