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Choose The Right Partners For Your Business

Nov 25, 2007
Before you partner with someone, find out about their history. Talk to people who have worked with them before in the past. Has the person ever cheated before? Has the person ever lied before? And the moment the person has lied or cheated before; never ever work with that person.

I've got friends who have made this mistake and they got cheated by their partners because they thought, the person would change. But this person cheated them at the end of the day.

If you play golf, one way to find out about honesty is to play golf with that person. If the person hits the ball into the swamp and he throws another ball there, you know that person has an integrity problem. So integrity is Number 1, really important.

Number 2 is to find a partner who is easy-going but at the same time not a pushover. He has to be fair.

This is opposed to finding a partner who is not willing to budge on their ideas, that's when you have problems. That's when misunderstanding sets in. So the person has got to be fair and understanding.

The third thing is, the partner you choose must be someone who's willing to work as hard as you, if not more and who's able to create a lot of value with the company. Otherwise one of you is going to get jealous, one of you is going to be pissed off thinking, why am I doing more? Why is that guy doing so much less?

And the final thing, the most important thing of all is that your partners must have complementary skills. That's what makes it special because that's what brings the team together.

In fact, sometimes I find that if everyone has the same mindset and interests, the team may not produce very good results

For example, if you were to start a creative design company, and of you are all design people, it's not going to work out. There will be no one doing the accounts, there will be no one doing the meticulous management of the staff. In a nutshell everyone's got to be different.

I have also seen a number of people who've gotten down a trap because they start off as technical experts. So they are really good at doing certain tasks but they forget that there's this whole business side of things to be done.

There are also people who say that it's very interesting to start a business, that starting a business is a great opportunity, but soon, they forget that when they start a business, it becomes a responsibility. And if there isn't a sense of responsibility to the business, the whole business setup will collapse eventually.

There are so many people out there in the market that I know who've been swindled and cheated before. And it was just within a matter of split seconds that suddenly everything collapses, just when they are not looking or paying attention.

So remember to do your homework on your partners and make sure what you bring to your team will lead you towards building up your business successfully.
About the Author
Adam Khoo is an entrepreneur, best-selling author and a self-made millionaire by the age of 26. Discover his million dollar secrets and claim your FREE bonus CD '6 Ways To Achieve Anything In Life' at Paving The Way To The Top.
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