Starting a business partnership
Nearly 5 years ago my first son was born and during my maternity I decided that I didn't want to return to my full time city job. I wanted to start a business but having never done this before felt that I lacked some of the skills necessary. What I needed, was someone to complement what I knew, to fill in the essential gaps and also to provide support where necessary for my start-up which led me to start Mum Plus Business - a free business partnership service.
Coming up with a business idea is really only the beginning of creating a successful business. The first step is to analyze where your strengths and skills lie. Are you a great speaker or perhaps numbers are your thing? To make a success of a business you need a full rage of skills and expertise which is why it can be highly beneficial to work with a business partner. If you are thinking of bringing in additional support but are not in the position to pay them it is worth looking at partnership options. You could for example decide to offer a 20% share in the business but don't get too caught up. It's much better to own 80% in a successful business then owning 100% in something that is less likely to succeed.
Perhaps you are good a creating crafts but are looking for someone with great marketing skills or you could have fantastic maths skills but no business idea yet. By teaming up you are not alone, you combine skills – bringing out the best in both of you, and you can balance other commitments by being more flexible. We have put together an article with everything you need to know on developing a successful business partnership.
James Caan, renowned business entrepreneur says: "Business is built by people, and the more quality ones you have the better it is. Throughout my career I have worked with partners as I understand that it is impossible to have skills, knowledge or expertise in every area. Working with the right people in an effective partnership really can help take your business to the next level"
Click here to sign up to our free business partnership programme. Complete your profile with an image and describe what you are looking for. The more complete your profile is the more likely it is that you find your right match.