There’s an interesting story about the partnering of the ice cream giant, Baskin-Robbins.
According to a post in Entrepreneur, Burton Baskin and Irvine Robbins each began their ice cream stores as separate companies at the advice of Robbins’ father. Dad thought that the men would take too much time making compromises and “kill the product’s potential.”
So only after each had launched successful separate businesses did they subsequently become business partners.
Though it would be nice if finding a compatible business partner always worked out this easily, it doesn’t always happen. However, here are some tips that might help you go from successful entrepreneur to successful business partner.
Take Time to Get to Know Your Potential Business Partner
Similar to the Baskin-Robbins story, a post at Inc. suggests taking things slow when it comes to business partnerships.
Engage in some of the other forms of business collaboration, such as jointly bidding on projects, subcontracting with another firm or principal, engaging in cross-marketing efforts, or making mutual referrals. It’s a lot easier to find someone for these more limited risks than to find a full partner.
Starting your business relationship in these “less-involved” forms of business collaboration provides you with an opportunity to see the other person in action. You’ll get to know them better, see their behavior in various business situations, hear about their business ups and downs, and get a better sense of whether they are someone you really want as a partner.
Let the Relationship Form Organically
Finding the right business partner is often compared to finding the right marriage partner. That’s why the Entrepreneur post, “How to find the perfect business partner,” suggests…
…like finding a romantic partner, unless it happens organically, finding someone to go into business with can sometimes seem hopeless.
Great advice when it comes to developing the type of relationship that endures the ups and downs of business battle. However, considering that many marriages begin when people meet through online dating services, it makes sense to find someone who can facility the right connection and help you build solid business relationships.
That’s where 3rd Eagle can help. We help find successful partnering solutions. We can instruct, mentor, and advise you on how to build strong strategic alliances with business partners. Contact us today to get started.