Here are ten things you can do to ensure that you have the best odds of partnering with the wrong person:
1. Ignore your spider sense. Animal instincts and survival skills are not appropriate in the real world. Each of the concerns that you have when things are going well will definitely melt away when times get tough.
2. Ignore your friends’ advice. No one knows your business better than you. Listening to people who care deeply about your success will only distract you.
3. Don’t do a background check. It’s all about going forward. Don’t waste your time on proven track records and reference checks, only people who live in the past waste their time on these details.
4. Synergy is over-rated. You don’t have to get along with your business partner. Life is easier when you don’t have to waste time communicating.
5. Work ethic. If your partner works 10 hours a week, from home, and you work 80 from your store or office, that’s fair.
6. Shared goals. Don’t talk about your business objectives. If you want to make a $100,000 and your partner wants to make million, both are pretty good goals. Why nitpick the details?
7. Exit planning is for the future. If your exit strategy is targeted for 2 years and your partner’s plan is for 10 years, that won’t affect anything right now. Stay focused.
8. Energy is more important than experience. Picking a partner who works really hard will make you way more money than picking a partner who works really intelligently.
9. Pick a partner on the rebound. You’re lucky your potential business partner was just laid off or fired. Now they will be focused on your business and won’t be distracted by having too much stability in their life.
10. You don’t need to trust your partner. As long as you double check every single thing that they do, there is no risk to your business.
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