A while back I wrote about the positives and negatives of joint ventures (a joint venture being a project that you do with one or more people other than yourself). One thing I didn’t really mention in the article is who you should choose as a partner, and because of that, this article is going to be all about picking the right joint venture partner.
But, before we start…
Some things just aren’t meant to be…
I think one of the things you have to remember is that some things are destined to fail, and that means that some times relationships and partnerships don’t work out. Whilst the points I’ve listed below will usually form a great joint venture team, it doesn’t always work out as everyone’s different and some people just don’t get on or work well together.
Qualities
OK, so here are some of the qualities I advise you look for in a partner:
- Enthusiasm – Probably the most important point, hence why I’ve listed it at the top. If your partner is enthusiastic about the project, they’re pretty likely to work hard and try their best to improve on the project and make it more successful.
- Knowledge – When finding a partner, you should try and think about it strategically. Ask questions such as ‘what can this person bring to the project?. If they’re bringing the same talent as you, it’s probably not worth both of you working together, but if they are strong at something that you’re not so confident about, it’s well worth working together!
- Likeability – If you don’t like someone, don’t work with them. You won’t function as a team and you won’t be as successful as you could be, so always try and find someone you get along with.
- Trustworthiness – Sorry for the long word, but it’s true… your partner needs to be worthy of your trust. If they say they’re going to do something and then don’t, it’s impossible to work with that as you always have to cover for them. In a worst case scenario, they could really mess up the project or even steal from you! Make sure you know who you’re getting involved with before you even consider making a deal with someone!
Dangers
Maybe calling them “dangers” is a bit far, but here’s some of my advice on people to stay away from…
- Control Freaks – One thing to remember is that it’s a JOINT venture. That usually means that everyone has an equal say, so if someone tries to take over it can have a negative effect on the whole project.
- Unapproachable – There’s no doubt that you’ll disagree somewhere down the line, but in this scenario you really need to have a partner that is approachable and will take criticism. If your partner can’t deal with that, they probably aren’t a great person anyway!.
What about you?
Are you in a joint venture? Is your partner a pleasure to work with? Do you have anything to add to the post? As always, I’d love to hear your views on anything mentioned in this article.
I am a sort of loner more I guess. But why I like about partners in a project is getting (and giving) feedback. Improving each other is great and that is what I love about having a partner in your business. But when you need him for something, he probably isn’t there, or he does something you really don’t want. It’s just that you can’t do your own thing anymore.
I like to get some feedback every once in a while by partners, or complete strangers. Feedback is always welcome!
Good post Simon, I like your joint venture series!
Stefan
Stefan | StudySuccessful.com’s last blog post..Procrastination: Just start
Glad you’re enjoying the posts!
Yeah, it’s always great to have someone there to encourage you to push yourself to the maximum you’re capable of!
In the “offline” world I own a recruting firm with a partner and trust is the most important thing. I think it is more difficult to have “online” partners because it is harder to really know that person.
Tycoon Blogger’s last blog post..Top Ten Reasons to use Twittley
Good point. I always try and enter in to joint ventures with people I either know in real life or have spoken to over the internet for quite a while. It’s very unlikely that I would just jump straight in to something.
You are right Tycoon in ofline world we can judge a person what he think about us and our business and what is his expertion when we have word with his. Thus we can read his mind. But in online world we can’t do this.
anthony@business coach’s last blog post..Question Time
I think you can find out if someone’s trustworthy over the internet, but it just takes time.
It would take a long time for that. And I thinks that There is few possibility for find out such partner.
anthony@business coach’s last blog post..Question Time
I agree with you that trust is the most important thing to choose any partner.
Deepak | LiveBingo’s last blog post..Layout of UK Online Bingo Site Bingochest.com
Later this year I’m going to start having some else write along side of me on JuniorBiz. I don’t know what to expect because he has 0 blogging experience. On the other hand, he’s a genius when it comes to young business and at 21-years-old, has 11 years of experience running his business. I know he has plenty of advice, but I’m not sure how well he’ll be able to put it into words.
I think credibility is another thing to look for. If you’re Problogger, then your readers will be upset if you bring aboard someone who has never written a post before. Wish me luck!
Nick Tart | JuniorBiz’s last blog post..Learnings from a Lemonade Stand – JJ Entry #20
Sounds like a great JV. To be honest, blogging is pretty simple to pick up in my opinion, so as long as they can produce quality content, the lack of experience shouldn’t be too bad
Really nice for someone who is looking for a partner.One thing I want to mention is over enthusiasm can kill he business. I have seen so many people who dreams too much or overlooks the condition……stay away from this kid of people
That’s one problem, but also you shouldn’t have someone who’s too enthusiastic as they’ll usually peak really early on and then find it boring after a while
Probably joint ventures are great if your other partners are trustworthy. But if you don’t trust on them then its not a JV. I did not still do any JV’s. I hope to do one in future. It may be with you too.
Harish | Blogging Kid’s last blog post..This Blog Finally Is For Sale
Sounds great!
I’m glad you find me trustworthy too.
Very good points, if you have to work for a company they will steal your ideas and get rich for them. So don’t give your ideas, just like being in a business venture never let others take the credit.
What you need to do is build a trust relationship. Test them to see if they are throwing straight dice. I know it sounds bad, but you have to screen people for a successful trustworthy relationship.
With joint ventures if there is an investment like money it is likely both parties, will take it seriously.
James King’s last blog post..Blog motivation quotes 2
Well… I have thought about doing a joint venture for a long time. I want to be able to get someone to help write targeted posts and someone with design skills. I am pretty busy in the “offline” world and would love to meet a blogger interested that I could trust.
I am looking for a situation similar to Alex and Janith at Blogussion. This is a great post with some important qualities listed.
Seth W’s last blog post..Diving into the Blogging Pool
Good tips out there! Trust is the major factor in a partner. and the partner should be mature, he/she shouldn’t delete the blog/website on small issues lol. Keep it up Teenius!
Mohnish’s last blog post..Make Money Online Without Spending Money Online
Taurians, aquarians.. read lindagoodman’s sunsigns.. i guess a good sense of humor is a must..
and having loads of patience to listen to all sides of an argument coming frm the libran herself 
Well, I blog with a Partner but its more like blogging alone.. he’s always busy to participate.. But I’m not angry about it ’cause I understand what he’s going through..
He’s way too idle but still, i dont care. My Partner is great though always late !
Enk.’s last blog post..Interview with Kovshenin (Web Developer)
Very true, very true. You covered basically all the points of choosing a partner. All the things that you listed are important.
Like you said, the most important thing is enthusiasm. However, there are many different things that can ruin a partnership. Finding the perfect partner is hard but worth it.
Jake | Web Journey’s last blog post..Creating the Perfect Notebook
First marriage is not just getting a woman and having children. There are still a lot of boys and girls who fall tray to this infactuation, end-up running away from home, committing suicide and lots of opposition from parents. So it is really important to propagate this to the new generation. So be careful for choose a partner..
Hi Simon! I just read your bio; sounds fun.
So I think you also have to give your partner incentive to do great, i.e. give them estimated results of the joint venture, give them examples of other people who have succeeded in the same way.
I’m not in a joint venture right now, but if I am willing to partner up if I find someone who’s displayed quality performance.
See you around!
Grace’s last blog post..THE Colours that Dramatically Effect your Success
I agree with grace
You have described appropriate Qualities but according to my thinking you forgot one thing that is understanding your partner should have better understanding. But you have described this topic very well i appreciate it. sorry for my last comment it was by mistaken.
Deepak | LiveBingo’s last blog post..Play Free Bingo at Littlewoodsbingo.com
You had given very good knowledge to chose a right partner. By following these step we can have a right decision. Thanks for sharing this valuable info.
anthony@business coach’s last blog post..Question Time
Luckily I’ve been a good judge of partners over the years and have managed to team up with people who work hard and back that up with great experience and knowledge.
I might work with a partner soon for my channels of blogs but there are lots of complications which needed to be sort out first…
This is not as easy as it sounds and now I understand the complication of working with a partner in any business…
I think trying to avoid a joint venture is quite hard. I always feel like there is more work that needs to be done and I cant do it all by myself. I agree that it is quite hard to find a partner that you can trust and work with.
Personally I think one of the most difficult parts are when you think the partner are delivering a bit low quality or maybe you would like him/her to form her content a bit different. Sometimes I’ve changed it a few days later but started to think I was the control freak in our team.