Chapter 1: How to Get the Right Business Partners

There is an African proverb, "If you want to go fast, go alone. If you want to go far, go together." I believe it's true, and we should look at the phrase as a whole rather than the second section alone.

I started my entrepreneurship journey as a lone ranger. While I held a permanent job, I was freelancing after office hours. During the day, I performed my duties as a doctor and lecturer. At night, I took up multiple web design projects that enabled me to rake in some good money.

While I was doing it out of passion because I enjoy designing, there were limitations to what I could do. I was only one man, but I could complete it fast. That said, I could only do one project at a time and had to pitch for new jobs once the project ended.

For sustainable revenue, there must be continuity. I knew I had to expand my territory into other areas of creative work. As I worked during the day, I understood that my time was finite.

With that in mind, it dawned on me that I couldn't do this alone anymore.

When do we look for business partners?

As I mentioned above, we'll have the urge to grow. That itself would be the right time to look for partners. It wasn't about easing my work process, but rather, it was getting more stuff done.

There is a difference in mindset. If we thought we could delegate the work to our partners so that we have more time, that isn't a partnership. It comes under the hiring process, which I'll write about another day.

Essentially, it's about finding others who have a different skill set. Every one of us has a unique skill in which we excel. I searched for someone with skills I didn't possess. As partners, we complement each other and do not compete with each other in a similar field.

How do we find them?

Choosing the right partners can either build or break our business. Avoid rushing into creating partnerships hastily. We get excited when others express their interest in what we do. Take a step back and evaluate first.

I'll share my story of how I found mine.

I met Selena many years ago before she became one of my business partners today. We met through a collaborative event. We were running our separate businesses back then. What we did then didn't turn out well, but we kept in touch. Although she decided to return to corporate life, we became freelancing partners.

It was then I understood her innate talent in marketing. As we continued our day job, we were tag team freelancing partners at night. When there was an upcoming project, I would pitch it for her part, and she did the same for me. As a result, more work started flowing in our direction.

Years down the line, I met Daniel during the pandemic. He is another partner of mine. The way he carried himself through virtual meet-ups and communicated eloquently piqued my interest. While I ran my live shows, I offered him a seat as my banter partner. He took it up with no questions asked and committed to it weekly without fail.

Again, he had an innate skill I didn't own, the ability to speak with finesse and confidence. Plus, he's the type of guy who will be there when we need him. He'll make it happen as long as it's requested.

When I started my company officially, I opened up my partnerships with them. They accepted it with open arms without any demands.

As you see, I found them through networking events. I met up with a lot of people over the years. Identifying like-minded individuals are ingredient to looking for the right partners over time. It takes a bit of patience.

That brings us to the next point, the ingredient.

What are the partnership qualities we seek?

A Giver

I look for ones who have the heart to give. They don't expect anything in return, and I don't expect anything in return. I believe it's one of the essential qualities in partnerships. Imagine our partners a bit tad calculative our lives would be miserable living up to each other's expectations.

Trustworthiness

It's easier said than done. As much as we would get others to trust us, we ought to learn to trust others first. It works both ways, and we can only get the ball rolling once we learn to trust. However, we can't give our trust away just like that because we don't want to end up with vulnerabilities. Hence, it goes back to our point earlier that seeking partnerships takes time, as that builds trust.

Kindness

I take utmost priority in this aspect. Kindness is free, yet we hold on to it dearly. Kind people are a rarity these days. However, we must be able to identify those who are genuinely kind and those who are faking it. We don't want to see the true nature of a person only after when the person is our business partner.

Why is it essential to have the right partners?

It's similar to why we have a few close friends in life. We want someone to support us physically, emotionally and mentally when the tough gets going. In entrepreneurship, there will always be unexpected weather changes and obstacles. Without the appropriate support, we will crumble to stresses and pressures eventually.

As much as we thought money was the lifeline of all businesses, it's not entirely true. Yes, it's one of the factors, but many companies fall out because of failed partnerships. Some may fight over money, the irony. Even with an abundance of money, it can break businesses too.

If we look for cash-loaded partners with money in mind, hoping they will propel our business further, think again. When one pours out money, the person expects a return in one way or another. We don't want to end up in a position where one has more authority just because that person has the money to dictate.

Victory is always sweeter when we grind and reap the rewards together. We start as equals, sharing the same principles and humane qualities as we move one step at a time toward better days.

#entrepreneurship #choobub