How to find a good business partner.

We get asked a lot about how can we qualify a partner? How do we know if a partner, distributor, franchisee, licensee, investor is going to get along with our client and be good for them?

There are some principles we abide by and some simple litmus tests we put out to see if the partner is sincere and thereafter here are some points you should do too as a good partner.

In this article we are going to talk about the signs you should look for in your partner while in the next we will talk about what you should do to look attractive.

Qualifying your partner

John C Maxwell says that 70% of the hiring is at the door. Meaning most people can’t change. You have to decide when they are at the door to invite them in or not as your partner. In other words don’t get swayed by how much money or how beautiful your partner can look.

Here are some factors that you can use to qualify if your potential partner can make the cut ;

1. Values

a. Reliability

b. Accountability

c. Trustworthiness

d. Availability

2. Financial Stability

Your partner has to have money! Think for a second if the business were to go into full swing and he or she tells you that they are out of money and need a loan.

3. Reputation

We met a young person in his early 30s who mentioned to us he owned a disco, wine bar and so forth. He seemed like a perfect partner for our client until we found out that he had a nasty habit of degrading his employees.

It helps to talk to your partner’s friends and employees.

4. Learning Capability

Can your partner learn fast and adjust to the market?

5. Business Network

Does your partner have an existing network that you can tap on to speed things up? Otherwise you might be better off building the network yourself.

While points 2 to 4 are empirical, meaning you can check directly if they are alright, point 1, the values of a person are hard to fathom.

Some tests we have done to check point 1 include when we ask the potential partner to meet at a certain time and see if they are punctual and what do they do if they are not.

Sometimes we throw out the onus of the next meeting for them to arrange to see their sincerity and professionalism.

It is quite amazing throwing out the responsibility of a meeting to that person can reveal about his/her character.

These are some key points we find that are very important in finding a right partner. In the next article, we discuss on how to be a good partner yourself to your distributor, franchisee or simply your local partner.

About Us

Curt & Co. is a business consulting company focused on the South East Asian region.

We complement our clients through extensive market research and due diligence, providing thorough, feasible and financially efficient growth methods for our clients in the region.

We provide 3 main pillars of services including

• Overseas Business Expansion Consulting

• Marketing

• Business Operations Outsource

Clients have the advantage in ​accessing our network in our help whether to meet partners, set terms for franchisees or licensees or negotiate with direct clients in closing a deal.

Our offices are located in Singapore, Indonesia, Vietnam and Philippines.

Find out more on us : www.Curtconsult.com

Contact Us : hey@curtconsult.com