The selection of the partner is one of the important toll to grow the business. The selection of partner shows the Growth and Failure of Business.

1. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
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Partnering For Success (Finding the Right Business Partner)
Q. 1. Think about your personality & work habits. What type of person (in terms of
personality & work habits) do you think you would work well with that & what type of
person do you think you’ll be in constant conflict with?
Personality refers to the combination of characteristics & qualities that form an individual’s
distinctive character. Personality affects all aspects of a person’s performance, even how he/she
reacts to situations on the job. Good personality leads to increased productivity & job
satisfaction, helping business function more efficiently.
As per the above question, talking about myself, I am of extrovert nature or have an outgoing
personality. I am a team player and can work well in groups. Outgoing personalities often work
best in the positions where they get to interact with others. On the other hand, I might not be able
to flourish in the position that keeps me behind closed doors, separated from others.
The type of person that works well with me are mentioned below:
1. Passion:
The person should be of passionate nature. He/she should as much passionate as I am
about the business/work. If he/she isn’t willing to work hard/do whatever it takes to meet
the goals, the business might not survive.
2. Reliability:
I prefer someone whom I can rely on. It is important to look out for signals that indicate
whether the person can be trusted to run the company or not.
3. Ability to build strong relationships:
As I’m more of outgoing nature, I prefer someone who has access to extensive network
of potential clients, industry influencers & investors by which I can increase the public
relations for the prosperity of the business.
4. Fiscal responsibility:
As I’m not so much aware about financial situations, it is important to have someone who
knows how to manage money & hasn’t landed in any serious financial trouble in the past.
5. Extended skills & experience:

2. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
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I would prefer someone who fills the gaps. For eg: If I’m a web developer, I would prefer
someone who brings other competencies that I need for the venture such as
marketing/finance.
6. Compatibility:
For working together, our personalities & work habits should be compatible. One should
be able to add up their views, opinions, ideas, etc. rather than having the same ideas. It is
important for us to be comfortable with the person we’ll be in business with as well.
7. Having common goals & aspirations:
It is very important for us to have the same goals towards the business. If the goals are
different, there is no use of partnering for separate goals.
8. Problem solver not a complainer:
I would prefer to work with someone who is more of a problem solver than a complainer.
Since problems may arise at any time in a business, it is important for everyone involved
to be prepared for facing the problems.
9. Attention to detail:
I give high preferences to people who tend to think of the big picture. These people not
only help us to see where the company is but where it could be in the future.
Now, moving on to the type of person which I would be in constant conflict with which is
mentioned below:
1. Resistance to change:
Change can be stressful and often result in conflict between team members since people
get stuck in their habits because they are familiar & easy to follow. Hence, I find it
difficult to co-operate with people who resist change.
2. Unclear job expectations:
Some people are very distinct and clear about their jobs responsibilities as every position
has a learning curve that plays a big role in the future success of an employee. It is
important for my co-worker to know my expectations from them. If they are unsure, it
may lead to getting unsure of how to perform efficiently and result in conflict.
3. Poor communication:

3. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
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Many conflicts happen because of poor communication. There is so much room for
misunderstanding at every stage which creates many opportunities for conflicts to arise.
4. Toxic work environment:
The way people feel about themselves & others in a workplace greatly affects the
productivity. Loving our job doesn’t only mean enjoying everyday tasks but also involves
being a part of happy working community. I would not prefer working with someone
who holds grudges towards me for some business decisions but would prefer if the person
tries to solve the problem by communicating with me.
5. Differences in personality:
It is not necessary to become friends with everyone we meet but is necessary to have a
level of mutual respect for a healthy workplace.
6. Poor work habits:
Certain habits can affect the performance of the whole team, cause irritation & spark
conflicts. I would not prefer someone who possess certain habits such as lack of
punctuality, someone who has negativity/anger towards other resulting in gossip about
others & who is disorganized & misses deadlines of the tasks assigned. These behaviors
make it difficult for everyone in a workplace to deal & cope up with.
2. Do you think, it’s a good or bad idea to form a business partnership with a close friend?
How could you go about discerning if a good friend would make for the good business
partner?
Businesses are generally done in order to make some profit. And while doing business either it is
owned solely with autocratic management system or done in partnership to ease up the burden
and may allow expanding into a more dynamic approach. And business in partnership is like a
marriage- which includes trust, communication, honesty, respect and the ability to compromise.
We also value these same traits when looking to build a business partnership.
As we all know that there are pros and cons to start up with a close friend. Similarly it also
consist some of them. So I go with the cons while choosing close friend as the partners:
 We know that we should not mix business with the pleasure; if it goes wrong it may
create hindrances and sour the relationship and may hurt the business process too.

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 It will be tough to manage the friendship when business when business needs to be in
priority.
 Any personal relationship you had with that friend will cease to exist once the company
starts to generate money.(most of the cases)
 When businesses are done with close friends they tend to ignore contracts(less
important). But having tight contracts is almost more important when working with a
friend so that conflicts don’t turn personal.
 In a business, it's not always that favorable to take decisions that may or may not be good
with friends. Regardless in business it should be from business point rather than
friendship.
 It would be very difficult to create, plan and follow the clearly defined business rules.
 Emotions can often override good business sense.
 The goals that we are dreaming may be different from our friends.
 It’s easy to destroy a friendship when that happens, so we end up losing our business and
friend too.
Here, working with friends in business can be an amazing experience. It can also be a real
challenge too. So it would be very tough to be judgmental if a good friend could make for the
business partners.
Since relationships as well as business are both the most important aspects to sustain for. Below
here are some of the points to be clear while choosing partners:
 Be Clear: There must be clear understanding regarding the rules, norms, policy so that it
won't create any problem. In a business, business is prioritized more rather than friends to
sustain long term.
 Be Apologetic: Having flexible human behavior helps to develop the long term
relationship in a business. If one has got the mistakes, doesn’t mean that one who has
done mistake should correct it’s the responsibility to make the mistake done. Since
partners are TEAM- Together Everyone Achieve More. Less egoistic is beneficial in
every organization. Instead of blaming it's your fault should be accepted as our fault.
 Be Helpful: An apology means a lot more when a person tries to make things right.
Being helpful is the sign of good partners.

5. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
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 Fix the problems: Not only blaming each other but also take the initiate that who can
solve the problem or have the idea would be better idea in doing partnership business.
Rather than waiting for someone else to fix the problem oneself.
 Getting things in written rather than oral: In business there must be difference
between professionalism and personal relationship. If the difference is clear we would
rather go to written form rather than oral. Hence being in written format helps to achieve
the objectives.
 Define Role from each of your strength: Everybody is not equal capable of doing the
same things. Some may have the capability of one thing and other people on other .Since
the nature of the people varies and the ability to deal with. So as per the ability and
strength the role may be defined so that it would be easier to solve the problem.
 Celebrate the victories: Victories are the greater achievements which will be much fun
celebrating with the TEAM members. It is the symbol that we can do more in the near
coming days. But being extravagant is the bad symbol too. So as per the demand it should
follow the trend.
 Match the expectations and goals: Goals may vary from one member to another so
there must be coordination among all .And there must not be vast difference between
expectation and goals. Since, expectations are the strongest hopes or beliefs that
something will happen or we can make things done.
3. Provide some suggestions, other than mentioned in the literature, for places(online or
offline) for finding a business partner?
When entrepreneurs have a business idea it is normal to look for an ally to help them make the
project a reality. This decision of experts in business management is one of the most important in
the development of the business, and should not be taken lightly. The right partner can help us
achieve our goals more quickly and efficiently. The success or failure of a business depends on
the choice of partners. So some of the suggestions for finding the right business partner are as
follows:

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1. Trust: Trust is one of the integral parts of business relationship. So we need to find
someone whom we can genuinely enjoy, like and trust. Mistrust is very difficult to
overcome and can doom a partnership.
2. Choose someone who shares common values: Successful partners generally agree on
standards regarding what is desirable, undesirable, good, and bad. These values guide
their actions, judgments, and choices. Your values shape your personal and professional
identities so they typically carry a strong emotional charge. So we should look for
someone who values honesty and practices good personal and business ethics.
3. Find someone who wants to grow and will support your growth: From birth to death,
each of us is consistently moving through a process of change. Sometimes, we are not
aware of the changes we're experiencing. And, sometimes change is viewed as a threat to
the status quo. Successful partners embrace change and growth, knowing that this attitude
benefits them both individually and as a team.
4. Find someone who have ability to resolve conflicts: When people share a close
connection, competing and avoiding are not effective conflict management strategies.
Instead, successful partners will use proactive and strategic approaches to conflict
management such as accommodation, compromise, and collaboration to resolve their
differences.
5. Find someone that can offer resources and credibility to the business: A business
partner with a secure business network, industry connections, client list or specific
credentials and expertise can also increase the value of business and improve the chances
of achieving long-term success.
6. Good communication and trust: Having confidence and a good communication skills
are very important qualities in business. The right partner should be a person with whom
you can have an efficient and constructive communication.
7. Choose a partner without a lot of personal baggage: It is very important to choose a
partner who doesn’t struggle with serious challenges in his/her personal life as it may
carry over into the business. Running a business takes focus, time and tremendous
energy, so if a partner is dealing with one personal crisis, it may effect in the business.
8. Find a partner that bring skills and experience to the business: The right partner must
have the qualities or skills that you do not have. A good business partner should have

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skills that support and compliment your own. The more skills you and your partner bring
to the business together the easier it will be to start, plan, grow, and run your business.
9. Open-Mindedness: Another quality that can be great to look for in a business partner is
the ability to keep an open mind. Collaborating with someone who isn’t receptive to
different ideas or perspectives could be difficult.
10. Respect: Respect is a necessary element to forming a successful partnership. The main
purpose of forming a partnership is to achieve success as a team. You should never
partner with someone that you do not respect. You may not value the opinion and efforts
of someone you do not respect at least on a professional level.
Therefore, a strategic part to achieve success in business is to choose the right partners. For this
reason, this stage requires a lot of reflection and time.
4. Spend some time looking at partner up. To what extent would you be comfortable using
this service to try to locate a business partner?
Partnership business stands for the business which is started with different partner with mutual
understanding to achieve the same goal. The relationship and the understanding of the partners
must be clear before starting the business. There must be the same goal before starting the
business.
The selection of the partners in the partnership business is really too hard to decide. The future of
the business totally depends upon the members involved to run the business. The member of the
business should have the same motive to run the business. The partners of the business must be
from different field while selecting of the partners to start the business.
The partners should have different knowledge about the business so that they can tackle any
situation of the business. The changes in the business world can be easily adoptable by all
partners so the partnership business can grow with the positive motive. The challenge in every
business is growing day by day. There is the necessary to have the different knowledge of the
external world by the team members, to grow the business and competitive with the other.

8. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
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The partners of the business are selected according to the business structure and motive. There
must be necessary of the different partners of different field to grow the business. All the
members of the business must be of different area or field with different knowledge to grow the
business with the same motive of the business. All the members of the business must have the
same objective and aim so they work together to achieve the goal.
The mutual agreement between them should be done before going in the partnership business.
There must be the fulfillment of the government rule and the legal agreement should be clearly
made among them before starting the business.
The difference in the partnership understanding and the mismatch on their behavior and there
working standard can create the conflict among the partners. They all should have been pre
covered their duties, responsibility, working standard and all the habitual work habit so they can
work freely among them. All the objective, rules & regulations, protocol etc. should be clearly
defined so that they partner selection and the working in the company will be smooth which
leads to growth of the company.
The togetherness of all the partners towards the single motive focuses to achieve the desired
goals of the business. The mutual understanding is necessary among the partners to run the
business in long run and achieve the long run goal of the company. There is the high chance to
create biasness and misunderstanding among the partners but all the biasness and
misunderstanding should be shot out among them in the starting point so, they can mutually
work for long.