We start the New Year with an eagerly anticipated wedding in our family. We are all very excited and a little nervous. At this late stage, the nerves are about arrangements and logistics rather than the choice of life partner, but it still made me think about the importance of choosing the right partner – in life and of course, in business.
We are trained and educated in many areas of life to make sure we are successful at what we do, but choosing the right partner is not a course at varsity. While no one is perfect (yourself included), having a list of priorities can be a great help to determine what you regard as deal breakers in a partnership and in which areas you are willing to compromise.
The moment a partner is involved it means another opinion and expectation and it implies consideration and compromise. But obviously, a partner also contributes. In business, a partner is usually selected based on the expertise, skill or financial support they can contribute. When it comes to a life partner, it might be mainly about love, emotional support and companionship. But I’ve found that even a business partner can bring you comfort when you don’t have to worry alone and a partner in marriage provides much more than emotional support and care – they also come with a skillset to complement your own. Finding the right partner and managing and maintaining a healthy relationship to the benefit of both are not easy, but when successful it can be very beneficial and enjoyable.
We know there is more to a partnership than those initial butterflies in your stomach or the deep pockets of an investor. Of course you have to do your due diligence, but let’s also consider these essential qualities in a business partner as listed by Forbes.com:
- Passion. You want your partner to have enthusiasm and share your passion and vision. Shared values, work ethic and compatibility are also essential for a long-term relationship.
- Openness. Being straightforward and honest is always the best, even when it isn’t the easiest option.
- Expertise. Regardless of the reason for finding a partner, knowledge and experience of the industry, relevant education as well as references and contacts are important contributions expected from a partner.
- Work ethic. Initial enthusiasm can be expected, but having the same priorities, expectations and commitment to efficiency will make the relationship much more successful.
- Stamina. Even if you share a dream and have complementary skills, stamina is an important quality to consider. This doesn’t only mean that your partner is a hard worker, but that it is someone who can stick it out, be determined and resourceful when things are tough.
- Diverse skills. Except if your partner is selected for a very specific skill or quality, someone who has a skill set that can be applied to your wider business, will be an enormous attribute.
- Shared values. This is something to be discussed at the beginning of a possible partnership. Having an aligned vision is good, but making decisions on the way to your goal will be much easier if you share the same core values and have confidence in your partner’s judgement.
- Track record. It is good to know that the partner you consider has been successful in a similar environment. You need someone with different and complementary skills to your own and who has insight into their own strengths and weaknesses.
- Dedicated and goal driven. Sharing the same long-term vision and being dedicated to achieving the same outcome, is the first step to a successful partnership. This will determine your approach to obstacles and enable success in dealing with challenges.
Now apply these business partnership values to a personal relationship. Of course, there is more to a romantic partnership and love and attraction do not necessarily make sense on paper, but in my opinion, it would be wise to consider most of these guidelines – whether you are in business or romantically inclined.