Business Partner Red Flags And How To Avoid Them

When it comes to finding a good business partner you have to make sure that you both are on the same page with what you wish to accomplish by working together. Often times we are so thankful that we have someone who we think is going to help us build, that we forget to ask questions, or we let things slide that we shouldn’t. Establishing a business that is going to last takes many factors and more than one person. You can’t build an empire alone, but be sure that the people you do decide to start a business with, or allow to work with you is also ready.

In this article I will be discussing several types of personas that you may cross in the business world and how to handle them.

The Person Who Always Agrees But Never Gives Any Input

Over the years I have attended required meetings for big companies that I worked for as well as conducted meetings of my own. When sharing the next big move that you believe the company should take or something new that could be implemented, if a person always agrees without reason ask them what do they like about your idea. The reason I say this is by asking for feedback it eliminates future conflict. Often people who just say, “Ok,” may not always completely agree with you and are afraid to speak up. There’s been too many times where I had people agree then later on express how they were upset with the decision they agreed on. Ask questions. “What do you like about that idea Bob?” “Are you certain you agree?” Find this information out so you’ll know the type of person you are working with. They also may have a thought that can make the plan even better.

The Partner Who Immediately Starts Asking You For Money

Yes, it takes money to make money but when someone who is your partner starts requesting a loan or an advance without an explanation or for personal reasons, understand that you are taking a big risk with them financially. Any money dealings should be written out with details of how it’s going to increase the company revenue overtime. Before working with anyone determine how much start up money is needed, if personal cash will be used or if a loan will be taken out. As mentioned, it should be in writing how you plan on funding your business with a list of expenses and the approximate amounts needed. Anyone who is willing to flat out gamble your money is not to be trusted with your money.

The Person Who Brags That They Work With You

This has happened to me a number of times to where people have bragged that they were working with me but behind closed doors when we were alone their energy was different. They didn’t smile and lacked interest in anything I talked about. When this happens it means the person doesn’t respect you. They are a vulture. Probably jealous for reasons they won’t admit. It’s best that as soon as they show signs of being two faced that you cut them off. Immediately.

The Individual Who Has Great Ideas But Never Starts

Now, this can be extremely draining. You have these long brainstorming conversations, the whiteboard is completely covered, you all have calculated how much potential money that can be made… And then, nothing. Absolutely nothing happens. You’re left waiting for when you all are going to get the ball rolling, but all you get is an excuse or they never bring it up again. As though the conversation never happened. These types of people are dreamers who don’t believe in their own dreams. Unfortunately you fell for their fantasy. They didn’t plan on doing anything they said they would, they just liked the attention and you gave it to them. The first time, ok, you may not have been able to tell what was going on, but the second time, just know this is a habit they have and disappointing you is something they enjoy doing. You can’t allow a person like this in your life and you’ll never build a successful business with them.

The Person Who Says They Can “Do It Better” But Never Shows You How

When you share a thought on business you are being vulnerable and it takes guts. You should be open to being critiqued but not open to being insulted. If someone is telling you that they can improve your idea but can’t write out or verbally explain it, chances are they are upset that they didn’t come up with the idea first. No one should feel bad after expressing themselves to someone they plan on working with for an assignment that can last months or even years. Dealing with a person like this causes stress and makes it to where you are afraid to tell them anything. Nothing will ever get done so you have to accept the partnership isn’t meant to be.

The Person Who Only Hears Your Ideas When They Are Coming From Other People

I remember when I worked with a well known foundation and I had given advice on how they could start getting more clients by collaborating with neighboring businesses. They smiled and nodded but there was no further comment or questions. Soon another woman was added to the team and she literally stated the same thing, we should start networking with our block. I kindly stated that I had said that the week prior and I ended up with more smiles and nods. You have two options when something like this happens, stay working with that team and say less, or leave. But by staying know you aren’t valued and you are going to end up being paid less than you are worth.

Final Thoughts:

Go where you are appreciated. Conduct interview questions when partnering with people. Get to know their character, things such as if they are an honest human and if they manage money well. Creating a business from scratch or adding someone to a business is a serious life decision. Don’t be so desperate to work with someone that you’ll take anyone.

Article By K. Crystal Carter

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Author: earthyrealist

Earthy Realist is a multidimensional company that primarily focuses on personal finance, investing strategies and wealth building. Presenting valuable content to its global viewers from news articles to premium products. It also provides businesses a platform to advertise related services. For Advertising Rates Email: EarthyRealist@gmail.com Over 100K Global Readers - EarthyRealist.com

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