5 Ways To Know If Someone Is Your Perfect Business Partner
Complementary skillsets. Founding a startup with five co-founders is rare. “We were able to make it work because each of us focused on building a separate component of the startup: design, hardware, finance, operations, software. I find that conflict is more common when founders share the same skill set because they end up stepping on each others’ toes,” she explains.
Shared values. While your expertise should vary widely, co-founders should all share the same values. These values include being respectful to each other at all times, even during intense conflict, and maintaining integrity and honesty. Taking risks is the best way to learn. Liu and her business partners are inherently optimistic people and believe there’s a solution to every challenge. They are motivated by the opportunity to build game-changing technology. Shared values matter because they shape how your startup team will be built and nurtured.
A version of this story appeared on the StartupCollective, a virtual mentorship program designed to help millions of entrepreneurs start and grow businesses. It was launched by the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs.
Are you a one of two or more co-owners of a small business? Take advantage of our special registration deal for business partners and co-owners attending the 2015 Black Enterprise Entrepreneurs Summit! To learn more about this special discounted offer, click here!
The Black Enterprise Entrepreneurs Summit hosted by Nationwide is set for May 13-16, 2015 at the Hyatt Regency Atlanta. Expect innovative sessions, high-powered speakers, and an early peek at the products, trends, and services you’ll need to stay ahead of the curve. To register and find out more, visit www.blackenterprise.com/es/. Join us at the Entrepreneurs Summit, Where Innovation and Capital Meet.
