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Does anyone have any general advice on finding a business partner? I want to find a like-minded person to start a business with. I'm done with school, I don't know a lot of people, and I don't live in a terribly big town (Grand Rapids, MI) so I imagine I have to be especially resourceful. I've checked the meetup groups around here but so far I haven't found any kind of "entrepreneur meetup." Any advice? For those of you who have business partners, how did you meet them?

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What do you mean by business partner? It's a loaded word. Do you mean an involved investor, or do you mean a person who will roll up sleeves and slog through the ups and downs of startups, contributing real sweat equity? – alphadogg Nov 18 '10 at 19:38
The latter. I'm not interested in investors. – Jason Swett Nov 18 '10 at 19:49
Jason what type of venture interests you? Can you share your educational background and experience? Business partners I have had in the past have been family (BAD IDEA) and folks where we have had the same vision, morals, goals, and appetites for business. Like finding the girl you will marry, you can look and define what you like, but cant force the marriage. – Frank Nov 18 '10 at 19:56
I'm a professional web developer (about 8 years' experience) and I suppose it would make the most sense for me to develop a software-based business. However, I'm not married to that idea. I have several invention ideas that I feel are worth pursuing as well. I want someone who can help keep me sane and someone who I can bounce ideas off of. If I can find someone who is as enthusiastic about developing a successful business as I am, and we at least have SOME overlap in skillset, I feel like I would be happy with that. – Jason Swett Nov 18 '10 at 20:11
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Participate in activities for general interests of entrepreneurs and also look for partners in the field that you are choosing to pursue a venture in. – TimJ♦ Nov 18 '10 at 20:46
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So 'business partner' has the clue. 'Business' - it's about creating and monetising value for other people. 'Partner' - you're going to be very close together for maybe a very long time.

Here's what I do.

I work really hard to meet people who share my interests. Find the groups. Complain about there not being any groups until someone corrects me and shows me the group, or I've met a bunch of people who agree there should be a group like that - and we start one.

I invest time with people knocking around business ideas. I'm looking for someone who thinks a bit like me but at least comes at things from a different angle. I'm looking for someone whose present situation and aspirations are reasonably similar to mine. And I'm looking for someone who I can imagine depending on in a crisis.

When I think I've found them, I say, "let's see what it's like actually working together." I don't care much what we do, as long as (a) it's reasonably compact; (b) it's reasonably challenging; (c) we both care about it; (d) we can both afford the limited time, cash, resource, reputation risk.

Some people I've been thinking it would be cool to work with drop out because they can't see the point. If we're going to do something, let's do something huge and amazing. But I don't want anyone to trust me that much without any actual experience of working together. Impulse partnerships just don't have that great a track record.

Then some people make other excuses. They're generally the coffee cup entrepreneurs. At the moment, this is a dream for them. The last thing they want now is to spoil the dreams of success with the mess of actually going for it. So I'm happy to hang out with them - but they're not the business partner for today.

If there's anyone left - well, now we need to get on with whatever it is. We need to agree something to do. We need to get started. We need to solve problems. We need to build trust. We'll need to cover gaps where neither of us has the experience / capability / temperament we need. And we'll succeed, or we'll fail, and we'll find out if the time was fun enough and profitable enough that it's worth doing more.

My experience is all that is going to take at least six months, and maybe much more. So meanwhile I need to know how I'm going to make ends meet, and how I'm going to continually meet more people, find more opportunities and create something meaningful independent of my search.

That's hard work.

But if you're an entrepreneur, it's exactly that hard work that will energise you, and build the network that will support venture after venture.

Good luck!

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+1 Great advice – Susan Jones Nov 20 '10 at 13:03
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There is no defined place to find trustworthy, hard-working business partners. You either know one, or are one-degree-of-separation from one. Having someone join your venture in that capacity is like a marriage. They have to be fully supportive and fully invested. They must be a good match to your personality. You may not need a business partner. You need employees willing to work for equity.

You can find a Russian bride pretty easily, but how often does that work out long-term?

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My wife is a Russian Bride!!! :) Ukraine actually! :) I would have mail ordered her, but i met her here in the states. – Frank Nov 18 '10 at 20:03
I should have said "mail order". Apologies are in order. I won't edit as a "Mea Culpa"! Thanks for not flaming me. – alphadogg Nov 18 '10 at 20:06
So, alphadogg, what's the take-away point here? Just go on living my life and I run into someone by chance? I completely agree with everything you said, but I didn't find anything in your answer that seemed like a suggestion. – Jason Swett Nov 18 '10 at 20:17
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#alpha is right, the take-away is that you cannot force these relationships. Just like friendships, or intimate relationships such as a spouse, a business parter is something that does come along. The important thing to realize is that many people will come along. Some to exploit you, some with good intentions, some with bad. The best thing you can do is make a list of characteristics that are important in a partner (in life or buisness) that way you seek out and spend time with individuals that are a good match. Look at yourself first and determine what makes you a good partner, and ... – Frank Nov 18 '10 at 20:21
define what a good partner is. Both for youself so you can aim to be that, and for your search. As for the search part, Alpha is right, you cannot Mail order the right partner. Although i have had great success with mail ordering employees! :) – Frank Nov 18 '10 at 20:21
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up vote 1 down vote

I'm exactly where you are right now. I'm a software developer and I'm looking for a biz co-founder. My answer to this is: Go to as many meetups and entrepreneurial events as possible. There are a lot of biz guys who are looking for techies like you and me. Talk to them as much as possible. If you have your own idea (like I do) - it would be harder because usually they have their own ideas and try to recruit you for 10% of equity :)

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Just out of curiosity, what kind of developer? I'm mainly a LAMP developer. – Jason Swett Nov 19 '10 at 20:32
I'm LAMP as well (mainly PHP) – Salmon Nov 23 '10 at 22:01
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Are you sure you need a business partner? I have generally been the kind of person who finds an idea, and executes on it. Most people who want to be my business partner have ideas, and no execution.

I would recommend you do a bit of soul searching into why you are looking for a partner. The most successful partners tend to excel in different areas - typically one in tech and the other in sales, and can augment the others weakness.

If you have the skills to execute on your idea, I would recommend you just start working today. If you don't already have a natural partner, plan on hiring help after you get revenue instead of giving up 50% equity for a partner you may not really need.

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I have the ideas, the skills to execute them, and I've been executing them for the last several months (foodnearyou.org). It's just no FUN without a business partner and there's no one to turn to occasionally to say, "Does this make sense? What do YOU think of this?" I trust my own decision-making skills, but without someone to bounce ideas off of, it kind of feels like fumbling around in the dark. – Jason Swett Nov 19 '10 at 13:44
So, you want a mentor, not a partner. Or, what I mean is that a partner is a broader thing that includes mentors. You could find another unseasoned individual, and that would make two people fumbling in the dark! :) I would say get to talking with local angel groups. – alphadogg Nov 19 '10 at 14:31
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What role would you like you partner to play? Do you need a business help, sales, or technology? If you have an idea for business -- it'll be easier to identify what you potential partner is.

Can you do this business by yourself? Talk to others that have business experience, partnerships are the hardest business to run. Search this board for posts on this topic.

Best of luck.

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That's a good question. I suppose I need all three, but in the short term I want someone who can get right in there and share the work with me. I'm a web developer and my current idea is software-based, so I would want someone with at least some experience building websites. I hadn't thought about it in those terms before, or at least I hadn't come right out and said it, so I think you just helped me narrow down my search a little bit. Thanks. – Jason Swett Nov 19 '10 at 13:47
Can you outsource work? It's cheaper than giving a part of the ownership and it's always easier to switch providers, than partners. – usabilitest Nov 19 '10 at 20:43
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Jason, there are people who want to bounce ideas and take on business ideas with you. I would love to talk to you and see if we can work together. I have been looking to gather up a team to do a couple different start up projects. Lets talk and see if we can work together.

Ed

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