Where to find partners?

[bluesky]

Has anyone successfully found good partners? How did you find them? I am interested in finding partners but don't know where to start.

Thanks,
Brian

[supportmyoffice]

To me, partnerships are like marriage. It should be someone that you get to know pretty well and that you trust. It seems a little odd to just look for a business partner with no prior relationship.

It seems like you should be doing some simple business networking...finding local groups and functions that surround your area of interest. In my city, the have regular interest groups and networking functions covering all sorts of things related to business.

You should ask yourself why you are looking for a partner. Do you feel that you want to share the load of a business startup? Do you feel that you are lacking in certain knowledge (technical, business, accounting, etc)? Are you really just looking for an investor?

If at all possible, I would try not to use a partner unless you feel it is a huge advantage to making the business successful, like you are partnering up with someone who is an expert in that field, or has lots of business experience, or covers some sort of skill set that you don't currently possess.

That's just my take on it. Partnerships can often ruin businesses. They complicate EVERYTHING.

[ntarifi dubai]

It depends on how you mean "partner".

If you mean strategic partner it just depends on what industry you are in - do a lot of networking.

If you mean a financial/ownership partner - well, be very, very, very, very careful.

[Beach Bum]

try friends or family, don't go with strangers.

Why do you need a partner?

[bluesky]

Thanks for all the info! To answer Corey's question: I am like many would-be entrepreneurs. I do not have family and friend's with tons of money nor do I want to be indebted to them if they did. Also, it is extremely difficult to find investors when you cannot assure them of big returns. Finally, I do not want to become highly indebted with getting personal loans or deplete my savings. That is why I wanted to know how to find someone who would be a financial partner, not necessarily a silent partner, but primarily a source of revenue.

Brian

[ntarifi dubai]

No one in their right mind - be it friend, family, partner, or investor - is going to put money into a company that you are not willing to take a personal financial stake and responsibility in.

If you're not willing to take on some degree of risk you should not be an entrepreneur.

However, if you have limited financial ability but will risk what you can then you need to start small. Say for example you want to open a huge store selling frisbees. You need to start selling them in small ways first and keep trying to a) increase profit/revenue and b) improve the business model so you can eventually personally get bank financing.

[Pamela Johnson]

BillR makes a good point. If you're not willing to put a significant amount of work or capital into your company, it is pretty safe to say that not many other people will want to put a significant amount of resource into your company either.

I noticed that you mentioned that you are looking for a primary source of revenue and not an investor. If by primary source of revenue, you mean that you are looking for a partner with sales or marketing experience, and not someone to just invest in your partner, you may have a lot easier time finding someone. I have found that if you are starting a business but don't have experience selling, you should either hire a salesperson (if you have the money) or find a partner who is great at selling or marketing. So many businesses with a great product seem to fail because the product wasn't properly marketed.