How to find a motivated business partner?

ciscocciein2006ciscocciein2006 Posts: 2subscriber
Can anyone recommend a way to find a motivated partner?
It seems the friends I have are all pessemistic about starting a business saying that there is too much competition, its too risky, yada yada.
So I decided its time to find some new friends...can anyone recommend a website or conference to meet like-minded people?
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Comments

  • rexiedexierexiedexie Posts: 97subscriber Silver Level Member
    Hi ciscocciein2006
    I am also seeking a business partner but have not yet found the right person after 4 years.
    Yet I have affiliate programs where I get new downline members every day. Many people just do not like to take risks or do not have enough self belief.
    You will find someone but you will have to blast your adds to the internet every day.  See my writingup posts from link below in signature.
  • bigpoppasanbigpoppasan Posts: 0subscriber
    i aqree wholeheartedly, most people seek partners for the wrong reasons such as feeling insecure about the business venture or one`s business shortcomings. I felt that same way about pitching /selling clients (i felt i could never do it), but after pushing my self and facing my insecurities, now I wouldn`t want anybody else doing it.
  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    Cisco?And.... why are you so anxious to have a business partner? Why can`t you do it on your own? The truth of the fact is, it`s hard to find people that are resposible and most of all ambitious. You don`t need a business partner... your only business partner is yourself.... from my own exprience business partners are big headaches down the road.
  • ciscocciein2006ciscocciein2006 Posts: 2subscriber
    Thank you all for replying. I too have heard it is usually better to go it alone...however...
    I am looking to start a IT recruitment firm. The reason I think I need a partner is two-fold:
    1. I am strong technically and have good knowledge of the industry but have little sales experience. I need someone who is good at selling.
    2. I don`t have the money to pay someone`s salary until the business picks up. In the IT recruitment field you ususally don`t make a dime until a successfull placement and even then there is usually a 3-6 months waiting period before getting paid. A partner may be willing to wait 6 months before seeing a check, an employee probably would not.
    Unless of course you guys have some other ideas...I would love to hear them.
  • ciscocciein2006ciscocciein2006 Posts: 2subscriber
    Forgive my naivete, but what do you mean by "downline"?
  • BluPantherBluPanther Posts: 5subscriber

    Can anyone recommend a way to find a motivated partner?
    It seems the friends I have are all pessemistic about starting a business saying that there is too much competition, its too risky, yada yada.
    So I decided its time to find some new friends...can anyone recommend a website or conference to meet like-minded people?

     
    Might I also add that you may just find a like-minded person here who could partner with you or may need your particular services.
    Blu
  • onlineeateronlineeater Posts: 16subscriber
    Forgive my naivete, but what do you mean by "downline"?Try LinkedIn. Contact mee off line with your email address I will get you an invitation. Also try the forum at www.richdad.com. They have espiring business people over there. Good Luck,John
  • SullySully Posts: 7subscriber
  • SEOExpertSEOExpert Posts: 1subscriber
    Hi,
    I looked for a partner everywhere...online, etc.  Eventually, I started going to lots of networking events.  Meetup.com will probably list entrepreneur networking events in your area...there are probably other websites in your town that list local business/networking events. 
    I met the perfect business partner at an entrepreneur meetup ...we`ve been working together since August last year and things are going great...you just need to put yourself "out there"
  • JMayJMay Posts: 0subscriber Member

    Thank you all for replying. I too have heard it is usually better to go it alone...however...
    I am looking to start a IT recruitment firm. The reason I think I need a partner is two-fold:
    1. I am strong technically and have good knowledge of the industry but have little sales experience. I need someone who is good at selling.
    2. I don`t have the money to pay someone`s salary until the business picks up. In the IT recruitment field you ususally don`t make a dime until a successfull placement and even then there is usually a 3-6 months waiting period before getting paid. A partner may be willing to wait 6 months before seeing a check, an employee probably would not.
    Unless of course you guys have some other ideas...I would love to hear them.

    You could look online for a recruiting website/center. There are executives and management who "work for equity", meaning in exchange for some ownership they will work for you until there is profit...not revenue...profit, to pay their salaries. Now, everything is negotiable: enployment term, shares (ownership), salary, contingency to make sure they contribute to the company, etc. The recruiting agencies find these people for you, you merely agree to pay them a commission based on a % of the executive`s salary, payable for a length of time (like 36 months or something...) after the company starts to make profit.
    This is something you must factor into your financials to maintain a bottom-line.
  • JMayJMay Posts: 0subscriber Member

    I have tried to go at it alone for my first business and had to close it because I had such a hard time with the financing, and other points.  With this second business, I really don`t want to do it alone.  I would love to find a business partner who could write the award planning plan, and share the responsiblilites.  I have a list of venture captial firms to approach (17 pages worth), but I am completley stuck on the business plan and I can`t hire anyone, as I don`t have that kind of funding, so a business partner with execellent credit, some solid experience who could turn the plan into something awesome to present to Venture Capitalists would be of great help for me.  If anyone at SUN is interested in partnering, let me know.

    I can surely understand why you want a partner, Kat. I`m on my 4th venture with the other 3 either failing or not performing as I would`ve liked, but let me say that your concern shouldn`t be "not to fail", it should be on learning from those mistakes that cause the failure. There is a difference between looking for a team member and looking for a crutch. As an entrepreneur your job is to know "a little" about "a lot" ... in each area of your business. The Business Plan is a reflection & the marketing of that knowledge. So before that plan is drafted, your knowledge has to be there. This is probably why you`re stuck. It`ll take some work but you can do this!
    Forget about the BP right now and start off with these:
    1. What are the "core pieces" of your business? How much $$ do you need to build the "core pieces" to: give $$ to the customers in the form of the product/service; and to get $$ from the customers as a "thank you" (This is Cash Flow).
    2. How much $$ do you need to run the "core" business for a year or two (without extra stuff like your salary), if you never make any revenue. This includes contracted specialists & professionals.
    Let me remind you that other people will fund this venture, so don`t short-change your throught process or your business with "this is all I can afford".
    3. Exactly, what is the problem you intend to solve? Who has this problem? What do they look like? Where do they live? How many are there? Has anyone, or is anyone already providing a solution for this problem? Is there something they aren`t doing that you can do? What can you do better? How do you intend to let everyone know that you exist and are ready to solve the problem? How much will it cost to let them know this each year?
    These questions should help you start brainstorm on the infrastructure of the company and its business. Most sections of the Business Plan are derived from these questions. Remember, you are to know a litte about a lot.
    entrepreneur.com (elements of business plan)
    score.org (retired entrepreneurs, professionals, executives as advisors)
    Finally, investors earn a living by making money with their money, while business owners earn a living by making money with other people`s money & time. When investors fund a business, they mainly care about "security of investment", "profit on investment" and "exit of investment". They find their "security" in you, your management team, your knowledge of your market, your planned use of their money. They find their "profit" in your income statements, balance sheets, cash flow projections, and financial ratios. They find their "exits" in your Plan, your ownership agreement, and again your financials...they exit if the investment makes money, if the investment folds, or if for some reason they just have to leave the investment.JMay2007-3-3 14:42:44
  • KalaKala Posts: 0subscriber
    Hey,
    I just found out about a new website www.bizpartnerhunt.com</A> that lists business partner want ads.  And you can post your ad there for free.  I `ve heard a lot of good things about it.
  • rexiedexierexiedexie Posts: 97subscriber Silver Level Member
    Hi All
    I had a wonderful business partner who unfortunately died suddenly in 2000.
    I have been seeking a partner for 7 years, no success.
    I`m seeking someone local I live in Melbourne Australia. However now I would consider anyone from any location.
    I`m have joined every community including above mentioned and more here.
    http://www.networking.love-au.com/</A>
    See what I do
    http://www.aselectchoice.com.au/Gm/whitepagesblog.html</A>
    http://www.aselectchoice.com.au/profiles/2811A.html</A>
     
  • KalaKala Posts: 0subscriber
    Yes, I think www.bizpartnerhunt.com</A> is new, but I met my business partner on there and they are offering free perks to small businesses right now probably because it is so new.  Bizpartnerhunt.com taught me and my partner how to create and maintain our own business website for free through a "website development training conference call" and we have no web development skills or background at all.  Anyway, I was pleased with my results from posting my ad on bizpartnerhunt.
  • lucky33lucky33 Posts: 0subscriber
    hi please can you contact me,i will show you avery serious business,forget retail and wholesale,i have all ready set up the business in poland,i am short of funds,and cant go into production
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