Just like someone said, “Joint venture is like a marriage”. Choosing a person with character is vital for your business experience. While looking for a business partner for your start up it would be just ideal to consider your soul mate. It could be your friend, wife, lover, siblings and the like. Remember that any company requires start-up funds and if you have a soul mate that can pool this money and be your partner as well it would be a great combination. Being too independent also could be detrimental to your start up. Finding like-minded people who can share your business responsibilities can help. Despite having the same wavelength, ensure that your co-founder has different set of skill that does not overlap with yours.
Despite going into a partnership with your soul mate having water tight legal agreement, could avoid disappointments later. Moreover, a written agreement can have your roles and responsibilities structured. Eventually when there is a break up, it can help decide how to split the equity. Furthermore, if things do not work out well, this gives an opportunity to split without heartburns. From the beginning, it is important to identify your boss. Despite being a delicate conversation, it is important to decide on who will run the company and who will take senior positions. There cannot be two bosses and having two CEOs could only put no one in the driver’s seat. Dating sites have also turned out to be good avenues for selecting business partners for your startup.