Please answer:

4. Spend some time looking at LinkedIn. How could you use LinkedIn to help find a business partner?

Finding the Right Business Partner ne thing that becomes clear to many potential look for a potential partner. Generic networking business founders, while conducting organizational events, like Chamber of Commerce mixers, are feasibility analysis, is that they need one or more usually ineffective for finding a business partner. partners to help launch their business. You might be a Instead, if you're looking for an engineer, contact Web developer who has a great idea for a Web 2.0 cooking engineering trade associations for leads or attend site, for example, but have no experience in marketing or engineering trade fairs. Social networking sites for sales. In this instance, you may need to find a partner professionals, like Linkedln, can be an effective way with marketing and sales experience to successfully to make contacts. There are also Web sites like launch and run the firm. There are five key criteria to look PartnerUp (http://partnerup.com), Founders Space for in a business partner. You want to get this right (www.foundersspace.com), and foundrs.com because picking the wrong partner or partners can lead (http://foundrs.com) that help people identify to a lot of heartaches and business challenges. business partners. 1. Know the skills and experiences you need. Make 5. Hire a lawyer. When you have identified a potential an honest assessment of the skills and experience partner and you're confident that the criteria shown you bring to the business and the gaps that remain. previously have been satisfied, you should hire a Pick someone who fills the gaps. For example, if hammer out the details. You should decide what each you're an experienced Web designer you probably partner will contribute to the business, how the equity don't want to partner with another experienced in the business will be split, what form of business Web designer. Pick someone who brings other ownership to select, what each partner's role in the competencies that you need to the venture, like company will be, and so forth. It's important to hire marketing or finance. someone who's not loyal to any specific partner (even 2. Make sure your personalities and work habits are if it's you). Hire someone who is impartial and everyone compatible. While you don't need someone who is feels good about. just like yourself, you do need to be comfortable with the person you'll be in business with. For example, if you'd rather work 16 hours a day if that is what it takes to finish a project on time, and your partner would rather quit after 8 hours a day and try to renegotiate Questions for Critical Thinking the due date for the project, that difference in work 1. Think about your personality and work habits. What styles will invariably cause conflict. Similarly, if you like type of person (in terms of personality and work to wear a coat and tie when meeting with clients and habits) do you think you'd work well with and what your partner thinks wearing blue jeans is fine, obvious type of person do you think you'd be in constant disagreements could arise. conflict with? 3. Make sure you and your partner have common 2. Do you think it's a good idea or a bad idea to form a goals and aspirations. Be sure that you and your business partnership with a close friend? How could partner are shooting for the same target. For example, you go about discerning if a good friend would make if your goal is to build a billion-dollar company but your for a good business partner? partner would be perfectly satisfied growing the 3. Provide some suggestions, other than those company to $10 million in sales and then selling out, mentioned in the feature, for places (online or offline) obvious problems could ensue. for finding a business partner. 4. Look in the right places. If you don't have some- 4. Spend some time looking at Linkedln. How could you one already in mind, it's important to know where to use Linkedln to help find a business partner