Finding a business partner: what I'd look at before signing

I've worked with the same business partner since we were 14.

So when someone asks me how to find a business partner, my first answer isn't very practical: you might already know them.

But there are things you can look at. These are the ones I would.

1. Trust before agreement

You won't agree on everything. You don't need to.

What you need is to trust that, when you disagree, the other person is thinking about the company and not about themselves.

Partners don't need to think alike. They need to trust each other.

2. Skills that complement each other

Two people who do the same thing aren't partners. They're two employees splitting one salary.

Look for someone who's good at what you aren't. If you build, someone who sells. If you think long term, someone who executes the short term.

3. The same idea of success

This is the one that prevents the most trouble.

If one of you wants to grow fast and sell in five years, and the other wants a calm company for life, sooner or later you'll clash.

Talk about it first. How big do we want to be? How much do we want to work? What would we do if someone wanted to buy us?

4. Similar commitment

One full-time and the other "when they can" works for a while. Then it breeds resentment.

It doesn't have to be equal. It has to be clear, and you both have to accept it.

5. Everything in writing

When things are going well, it seems unnecessary. That's exactly why it's the moment to do it.

A shareholders' agreement covering who does what, how decisions are made, what happens if one of you wants out and how their share is valued.

It isn't distrust. It's looking after the relationship for when things get complicated.

Where to find a business partner

• In your professional circle. Someone you've already worked with and know how they handle pressure.
• In small projects before a company. Doing a project together is the best interview.
• Among your clients or suppliers. Sometimes the person who understands your business best is already on the other side of the table.

The test I'd run

Before signing anything, work together on something real. A project. A client. A few weeks.

You'll see how they decide, how they react when something goes sideways and how they share the credit.

That will tell you more than any conversation.

P.S. My partner answers the questions I never asked him in this interview.