Guide On Partnerships, Hiring, and Personnel | Tips | Choices | Success

[lala]

In the world today having a successful business means having an excellent partnership and teamwork. This is a full guide written by Glassy which will help you understand more about choosing the right partner onto making your business successful.

Section 1 - What does it mean to have a business Partner

Section 2 - Benefits of having a business partner

Section 3 - How to find the perfect partner

Section 4 - Planning

Section 5 - How to work with partner

Section 6 - Conclusion


[hide]Special thanks to Glassy for this guide.[/spoiler]

[lala]

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In Business when you make a partner or "Partner" with someone, it means that you have common business interests and you would help each other and leverage mutual strengths for greater rewards. This comes from a business structure called a partnership. There can be any number of partners that own and run the business. If an employee of the business is deemed worthy by the partners, then he may become a partner himself. The amount of ownership in the business is variable and may involve a long period of vesting based on performance. It is a HUGE promotion - infact, it is the largest promotion you can get if you work for a companyof this structure.

[lala]

There are many benefits when running a business or deal with a business
partner. These benefits help you make your business much more
successful. First key to remember is that no one, and I literally mean
no one, knows everything. We have to face it that even the smartest or
most confident people do not know everything.
That is why when having a partner with you on your business it will always be valuable to have
them around that have experience you do not have.

The reason a business partner helps is because he/she brings something
to the table, or let’s say the idea. Their ideas may me better and more
useful. The more ideas and discussion towards the business may increase
the chance of it being successful.

[lala]

We know that BestBlackHatForum is a becoming a big community
with many members that volunteer to support and help.
We also have to understand that there are members that want to earn without giving their time.
Your job is to choose the right member and right business partner.
To begin your quest to find the right partner,
think about the maturity and behavior level you prefer.
Most people automatically think that when they look smart
they are smart, but the truth is you have to act smart.

You want to first investigate your partner.
You want to make sure your partner has done personal deals and has experience himself.
Maturity and Responsibility is a key to choosing the member.
Make sure the member respects your boundaries, feelings, time, etc.
Follows through on promises, shows up on time, doesn't let people down

You want a partner that would not make you be hesitant when asking him/her questions.
You want a member that can speak to you freely with any need and without a doubt.
Remember you will be with this partner throughout the lifetime of your business.

[lala]

Planning is one of the main key to have a successful business.
When you have found the perfect partner that you believe will help you become
successful onto your business, you must come up with a designated plan.
A well performed plan that there is no doubt about.

You should have a full plan on what you are going to do with your
business and in order to make your business organized you should know
the following below. Remember the key to planning is organization.

How much is the business worth:
When planning for the business with your partner, you should come up with the
amount of deposit needed. You want to come up with a total amount
needed to make this business happen. Gather all the funds and put them
in a section that will only go towards the business.
Materials:
When you have all the funds together,
you should attend to get all the materials
sorted for the business. As organization kicks in, you should also have
all the materials by your side and in ready to use whenever you begin
onto the business.

Schedule:
A schedule will help you and your partner in many ways. Instead of
contacting the partner for the new plan on each day, have a schedule
planned out. This will sort everything to be on time and to be ready.

Contract:
A contract is extremely important when creating a business. There are
times when members decide to leave from the business and never return
and the business is all in your hands with the issues as well. Having a
contract will keep your business more organized and strictly followed to
the goals of the business.

As we all know that this is BestBlackHatForum,
and many members do business
that are not that major. Most of the time a contract is not needed for a
minor business, but when your spending a great amount then a contract
may be a good idea.

Profit Split:
With your partner you should discuss the amount of profit,
you are willing to split.
This is very important, as the member can change his mind and not
agree with the percentage of income he/she will get.

[lala]

As you can already see maintaining a business is not quite easy. There aremany things needed and many rules to follow. If a error occurs in your business there is a likely chance your business may fail. That is why you should always have everything on time and the tasks managed. Please keep in mind the better you collaborate with your business partner here at BestBlackHatForum, the better your chances are to have a successful business.

[It'sOkayNow]

Woww.. thank you very much Lala...

[killerkash]

Great share man...thanks!

[Ynwaps]

ALWAYS plan for a breakup. What happens after etc?
Write it down, get it signed.
Else you will just hurt your self and your business.

[LuckyballGoGo]

very nice topic