Be Careful Who You Get Into Bed With
As an entrepreneur you’re going to come across a lot of business opportunities. There will people who want to work with you because they love your vision, enthusiasm, or for whatever reason or another.
It’s important that you always give each opportunity a lot of thought and consideration before you jump right into bed with it. There’s no crime in “dating” an opportunity and learning as much as you can about it, but make sure that you are fully comfortable with the business proposition before wedding it.
There have been many times when I’ve jumped into partnerships with people – blindly – only to see things fall apart and crumble right before me. It’s a given that there will always be ways to work with other entrepreneurs to make big things happen, but you have to choose wisely and be selective – time is money, remember.
Sometimes things may seem rosy and dandy at the first sight of a new business opportunity, but after time you’ll catch yourself saying: “Why did I get involved in this project?”
So be smart and be super selective when choosing your next (or first) business opportunity with a partner. There’s no time to waste.
I absolutely agree with those words. I also think that entrepreneurs need to establish a strong vision of what they want their company to be and where they want it to go before they simply take on any partner. You must make sure that any partnership will not take your business down a road where you didn’t plan on going.
This is one reason why with my new business venture, Broadgate Business Financial LLC, I have not taken on a partner because I want to firm establish my company’s identity as I see it.