Questions to Ask Yourself Before Taking on a Business Partner or Investor
Happy St. Patrick’s Day! We’re not Irish but everybody is Irish on St. Paddy’s Day..and I digress..
Today I wanted to talk to you about something that I desired for many, many, many years in my jewelry business!
A Business Partner!
When I was starting out in the jewelry industry, it was a lot of pressure. In fact it still is a lot of pressure! As I started to grow, I was seeking solutions to help lighten my small business workload and the financial commitment of being a business owner.
I THOUGHT finding a business partner or investor was the way to go, but little did I realize there were many things that I wasn’t considering ahead of time.
So the story goes, my younger sister who is a super smart business lady a completely opposite skillset approached me about working together.
Jackpot! I thought this was the answer to my prayers…my business partner could be my sister!
But then reality set in for both of us!
My business wasn’t HER passion and quite frankly it was difficult for me to have someone to answer to all of the time.
For us, it didn’t work out as a business partnership. She is now rocking a career in finance working for Bloomberg (like I said, smart cookie).
Breaking up was the best thing we could have done for both of us…plus, I learned a lot about taking on a business partner in the process!
So I thought I would share with you some Questions to Ask Yourself Before Taking on a Business Partner or Investor.
Click to tweet: Questions to Ask Yourself Before Taking on a Business Partner or Investor via @Flourish_Thrive http://goo.gl/AbFrRG
I want to hear from you! In the comments below, tell us the following:
- Are you considering taking on a business partner or investor? What is your #1 concern with taking on a partner?
- If you already have a partner, what has it been like sharing ownership of your business?