Our current member at EV Hive Coworking Space, Laura Risma Dinanti, the Accounting Analyst of Eragano Indonesia, who has been developing the business for the past year shared a few tips and tricks how to choose the perfect business partner for your business. Eragano is the pioneer of agriculture startup who provides end-to-end solution for smallholder farmers that aim to improve farmers welfare number. Eragano develop solutions from upstream to downstream for farmers' households based on modern technologies.
Partnerships in business can be tricky. However, the ones that succeed in partnership can achieve much greater level of success more rapidly than if someone run the business alone. Here are some ideas that will help in building successful partnership featured Eragano.
Assess what your business needs
In the first place, ask yourself: Do I truly require a business partner to assemble an effective organization? To commence a strong built partnership, we have to firstly list down the business’s needs such as assets budget, associations and crucial aptitudes. You should obtain an ideal partner to be a representative or a self employed entity. Shortly, you have to analyse well whether partnership is highly needed and effective or not.
Similar goals for potential partner
Each person in the partnership has his own reasonings for being in the partnership. Sometimes people seek a partner for capital, sometimes for expertise or connections. These are not always expressed, yet they remain as an underlying expectation. If the expectation isn't met, the relationship can become strained as each person's expertise, motivation and personality are different. It is important to have the discussion about their goals before anything is committed. Individual needs and expectations may change over time, a clear solution or modification towards initial plan should be stated in the paper as well.
Bring values as your power to collaborate with them
Discover partners who has the same core values like your company. These are the values that are going to define your business relationship and shape the company as it grows. One method of doing this is to make a list of values that matter most to you company, and ask your potential partner to do the same. At that point, see what the overlap is and whether you can reconcile any differences. Ensure that you are clear on communication and get to the important points sooner rather than later.
Making a good relation and be loyal with your potential partner
Communication is the key. This is the most important thing to build a strong partnership. You should have the ability to discuss clearly with your partner to decide, set objectives, and drive the business forward. In the event that you band together with somebody that is hesitant, contentious, or less considerate, it will be harder to work effectively. Yes, it will take time but it is worth to develop. Relation, trust, sharing information, building up the business strategy and loyalty are the most important keys in partnering.
Carefully crafted by: Ev Hive