Launch a startup with a partner, never alone.

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Looking for a business partner?

Not only beginners in business, but also businessmen with work experience ask themselves where and how to find a reliable business partner. After all, business success largely depends on interaction with reliable people, fruitful cooperation with companies and organizations. Generally speaking, even customers are business partners. After all, they conclude a contract of sale or provision of services. Crowdholding connects the crowd with entrepreneurs, allowing them to become a business partner and share future revenue (ie. Crowdshares). Finding business partners in the crowd gives startups a head start, enhances business performance and improves the quality of contracts concluded.

A classic example of business cooperation - people and companies that co-create, for example, accessories for their products or supplies, provide after-sales service. Cooperation with the crowd depends on the magnitude mutual benefit. The success of businesses depends on the number and quality of contracts concluded. Partners include suppliers, customers, distributors, advertising agents and employees of the enterprise.

How to find a business partner?

Where to find a business partner:

  1. Among friends and relatives who have a desire to share a business. At least, there is a possibility that such a partner will not deceive and quit the business halfway. In any case, it is worth paying attention to the competence of your partner;

  2. Branch exhibitions. Representatives of organizations interested in cooperation gather there. To participate in the exhibition you need to invest in the design of a stand and sometimes a significant cash contribution. In addition, you will have to withstand serious competition with other companies participating in the exhibition;

  3. Associations and associations. Often businessmen unite in non-profit associations to defend their interests and support cooperation. Such associations can be sought both within the industry and in related industries;

  4. Placement of information about yourself in business directories. This is called passive search, when, in fact, one is looking for the one who posted the information. The method is good in that it does not require significant effort, but results may be delayed;

  5. The Internet. For a long time already there are specialized resources designed just to find business partners. Great partners are needed at the start and finding them on Crowdholding is as easy as riding a bike.

Undoubtedly, to make your search more efficient, it makes sense to use several or even all methods at once.

What are the pros and cons of business partnerships?

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Intellectual fund.

It is more difficult to make decisions. Since you are not dealing with strategic objectives on your own, there may be difficulties in reaching a common consensus with partners.

Allocation of duties.

Stress. We will have to get along with our partners every day.

Strength in quantity. Your organization will be more seriously perceived by customers, given the greater number of employees.

A responsibility. It is necessary to be responsible for your own actions before partners.

Support. You can always rely on associates willing to share the difficulties that arise.

Control. You will not be in full control over your business, you need to learn to trust your partners.

Loyalty of banks.

 

How to organize a business partnership?

Step by step guide follows:

Step 1

Make sure that you need a business partner. Determine what exactly you expect to get from a partner in view of strengthening your market positions.  Consider some of the following questions:

  • Direction of the company's development

  • Direction you want to see;

  • Competitive advantages of your organization;

  • What is missing in the company.

It is necessary to indicate the answers to these questions in general terms. Once the goal is formulated, it is necessary to assess the possibilities of the organization to achieve it. Analyze the list of your strengths and weaknesses. The organization has the resources and experience to achieve business success; What resources or knowledge can you acquire by hiring employees? What of the above can be purchased only through business partnership? If you can meet the needs with internal resources, there is no need for business partnership. In the case of a financial problem, one should look for an investor, not a partner of the organization. But if all this does not allow you to get the necessary conditions (knowledge for development, management skills) - you need to look for a business partner with such resources.

Step 2.

Identify a suitable business partner profile. An ideal partner does not exist. However, for some qualities, you can identify a partner that is close to the ideal. Among such qualities are responsibility, level of professionalism, reliability, perseverance, diligence, openness, trust, independence and decency. How to make the right decision in a difficult situation It is possible to supplement this list with other characteristics and qualities, but these points are basic and decisive. An important quality lies in the dedication of the organization and the business idea into which the partners' financial resources and efforts are jointly invested. Also, a significant factor is the financial strength of the partner, the possibility to bring creative approaches and ideas in dealing with situations, psychological stability and healthy ambition. It should be understood that any business is waiting for failure if it does not rely on mutual trust and commitment, common goals, financial incentives. An important factor in the partnership is the complementarity of partners, meaning implies the following - one will complement the other.

Step 3.

Starting to look for a business partner. Today, there is practically no limit to the possibilities for finding business partners. An excellent place for this is the Crowhdolding. Various Internet tools allow you to find any partner using the appropriate methods: website; Blogs; Bulletin boards; mailing lists; work with specialized sites, forums; Dating in a business environment. Such simple tools allow finding the most worthy business partner, although this requires certain expenditure of money and time. Skeptical people often look for partners among friends or on recommendations. Each of these methods has individual advantages. Although not devoid of certain shortcomings. Also, we should not forget about newspaper ads, stickers of ads, flyers with the announcement. All means are good for finding a worthy business partner, everyone chooses the right variant for themselves

Step 4.

Careful analysis of all applicants for partnerships. Choosing a business partner is an important and responsible task, which largely determines the success of business undertakings. A competent choice of a business partner will allow the business to achieve new opportunities and prospects. What should be taken into account when selecting the applicant primarily: General objectives. Leadership skills. However, the initiative of the partner should be under control. After all, reputational consequences for business can become consequence of excessive activity. Determination. Clearly set the framework for cooperation and issues, decisions on which will be taken by the partner independently. Appearance. After all, it is important to remember - the partner is the face of business. If something disturbs you in your behavior or irritates you, it's better to refuse cooperation. Remember - this person will have to spend a lot of time. Intuition will help to make the right decision. Tatyana Drusinova, senior managing partner of the company "Autograph", Moscow Intuition, professional, life experience become important helpers in making the right decision. But there are some factors that violate the reliability of the assessment. Among the main among them, one should note the time deficit, and, although very surprising, the commitment, concentration on the business problem. Of course, contact with the partner is extremely important. However, such contact should not be considered an end in itself, it should be considered as a condition for achieving a strategic goal. As a result, it is necessary to encounter a dealer - I want to believe that it is partnership with this person that will allow achieving the implementation of the planned result, however, there are significant objective concerns. After all, the psychological basis in a successful alliance is trust. There is trust between the parties, if you have an identification with another person, with the identification of something close to him. With this identification, even the most incredulous skeptics often say - "he is the same as me."

Step 5.

Evaluate the potential partner. One will have to evaluate the strengths and weaknesses of the partner in question with an honest and open discussion of all points for which special attention is required. Make a preliminary agreement indicating the strengths of each partner in the partnership, which can bring to the partnership process. Is the compatibility and complementarity of the skills of each party possible? Does the partner have sufficient financial resources? Does the partner have satisfactory quality management resources to supplement resources, manage its part of the alliance? Do you have enough powerful leverage to eliminate the partner's ability to insist on higher requirements than those originally specified? It is necessary to clearly, directly discuss the long-term strategic goals of the partnership. Do you know the actual reason for your partner's interest in your project? What place does the proposed project take in the long-term strategy of the partner? How important is the partner to your cooperation? Are the terms for achieving the goals acceptable to the partner? What resources is your partner ready to sacrifice for the sake of joint cooperation? Is the expected size of profit clearly specified? Importance is given to taking measures to exclude the possibility of alienating your know-how.

When evaluating a potential partner, it is necessary to take into account a number of such qualities:

  • Tendency to base negotiations on financial aspects only;

  • Inability to honor one's promises;

  • Preferably the attitude towards the achievement of short-term plans, the main stake is not a long-term partnership;

  • Inability to collaborate; Inclination to treat personal relationships only on the business side; When there are problems, the tendency to punish responsible persons, and not to find a solution;

  • Reluctance to share information;

  • The propensity to make contracts that exclude the possibility of a change in the future;

  • Doubtful business reputation. If one of these characteristics is identified, it is better to think about partnership with another person.

Step 6.

Conducting negotiations with a potential partner. It is during the negotiations that a structure of further interaction is created. Negotiations are open, honest. But even with trust, doubts or complex questions can not be ignored. We can not neglect corporate security issues. Indicate the intentions of each party, the terms of confidentiality, the scope of cooperation. It is on the clarity and clarity of relations that trust is built between the parties. Personal negotiations are also necessary. For most important transactions, significant time is wasted - more than originally planned. Decide what needs to be discussed, should be based on the goals of each partner, as well as the means proposed for achieving them. A number of factors need to be discussed: ownership structure and assessment of each partner's contribution; Management, adoption, control decisions; Distribution of income, if the partnership is focused on the sale of goods produced by one of the partners; The process of eliminating partnerships; The process of withdrawing from a partnership; Work with staff, hiring new staff; Details about the ownership of technology, the trademark, the list of buyers. The probability of taking all these factors into account in the initial agreement is rather low. One of the goals in business partnership ultimately becomes the possibility of working with rapidly changing circumstances and conditions. The art of negotiation: how to achieve a profitable result. The success of any partnership depends on the partnership's compliance with the goals of each party. To ensure successful work, you need to make full clarity about the objectives of the company and partner. It is not necessary that the partners are guided by the same goal. Preferably, if their goals complement each other, forming a joint strategy. Make sure that the goals of both parties are clearly reflected in the partnership agreement.

Step 7.

If you have chosen a business partner, conclude a contract. If you have an equitable distribution of shares and incomes in business, the best option is to create a legal entity. If partners are not ready to register a legal entity, a banal registration of an individual entrepreneur is possible. However, registration of a PI implies a person's responsibility with all his property. Relations of business partners: allies or rivals If such an option does not suit, and partners plan to conduct business as individuals, an agreement is recommended between them, it will also be useful to notarize it. You can insure yourself by specifying the amount of money contributed by each partner in the joint business, as well as the conditions for redistributing income from profits, the partner's share in withdrawing from the partnership. This will be a useful condition for the registration of partners as individual entrepreneurs.

Conclusion

Remember that on Crowholding a business partner can be anyone:

  • A customer or a consumer;

  • Executor (contractor) or supplier;

  • Intermediary in the general sales chain (in particular, the distributor or regional representative);

  • Manufacturer of complementary services and products

 

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Crowdholding

Crowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.



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