Wednesday, September 8, 2010

10 Things to keep in mind when CHOOSING A BUSINESS PARTNER

10 things to keep in mind when CHOOSING A CO-FOUNDER;

from Economic Times, 6th September 2010.

1.They should have a common vision. That is the basis of their coming together.
2.There should be good chemistry between the two. They should be able to complete each others sentences.
3.The two entrepreneurs should have complementary skill sets. If one is a marketing guy, may be the other should be a techie.
4.They should have worked with each other earlier to know their style of working.
5.There should be reasonable per
sonal relationship between the two. Close personal relationships are preferable.
6.There should be no ambiguity about who is the boss. One has to be the leader.
7.More global multi-country experience helps since businesses are global today.
8.The team should be a mix of strategic thinking and tactical understanding.
9.The co-founders should understand each others strengths and weaknesses.
10.Intellectual compatibility is required else team meetings can become ineffectual.

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