What You Really Need in a Business Partner

Hint — It’s not capital or skills

Altaaf Aboo

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You’re thinking about going into business with your rich uncle, your broke roommate, or the sharply dressed man you met at the bar last night.

If you’re looking to take on a business partner, you’re probably thinking of someone with either capital or a specific skill set.

Though most entrepreneurs crave something far more profound than that.

It may sound crazy, but in my experience, it’s emotional support that most entrepreneurs actually need.

Life is a whole lot less scary when you’re not doing it alone.

In this globalized world, capital and skills are far more accessible than ever before.

Before you start looking for someone to join your new venture, ask yourself, what is it that you really need in a business partner.

Focus in on your potential partners EQ rather than their IQ or bank balance.

While the divorce rate for marriages is a staggering 50%, business partner’s breakups are even higher at 80%.

This is because personality gets overlooked in favour of the more tangible things like coding ability or capital. This leads to short term gains but long term pain.

Emotional support

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There will be good times, and there will be bad times in your business. When times are bad, the fact that your partner is a great project manager won’t make things any better.

What you really need in the low days is encouragement and reassurance.

You need someone to tell you that this idea is not ridiculous and remind you of the successes you’ve already achieved.

Those who choose to go solo often find this support from family or significant others. Jeff Bezos, who is often considered a solo founder, probably got this from his then-wife, MacKenzie.

Though, bouncing ideas off someone who has a stake in the business is very different from someone who loves you and

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Altaaf Aboo

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