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10 questions to ask a prospective business partner

I wrote this post for this week’s Bizcrowd newsletter and thought it might be useful for a few readers here at Mobile Industry Review. Creating a partnership is fraught with difficulty. I’ve seen many work fabulously, but I’ve also seen a lot of poorly matched partnerships descend into business hell. I put together 10 questions that you might want to ask a prospective business partner before you sign the paperwork. All of the questions are derived from bitter experience!

Here’s the first section:

Some of my worst business experiences have come about because I didn’t have the confidence to start a business on my own. It’s quite difficult to admit this and writing it down in black and white makes it look even worse.

I’m an entrepreneur and I have been since my very first Tuck Shop business aged 15. Watch me striding across the stage as I present the Bizcrowd Award at the upcoming Great British Entrepreneur Awards and you wouldn’t think I’ve ever lacked for confidence. But the sad reality is that every early business I founded was with a partner because I simply couldn’t summon the courage to go it alone.

I was literally kicking myself when, both aged 21, my partner and I were offered half a million pounds each for our business from an international investment bank. He disagreed. He didn’t like the idea that the acquisition required him to take a step back. I had to politely decline the offer that would have made me before I’d even finished University.

Continue reading over at Bizcrowd.

By Ewan

Ewan is Founder and Editor of Mobile Industry Review. He writes about a wide variety of industry issues and is usually active on Twitter most days. You can read more about him or reach him with these details.

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