photo credit: kunalmehta
When making the decision to take on a partner for your start-up, one needs to remember to choose wisely. This person should be considered as your right hand man, someone that you will be involved with for the long hall. I recently read an article on Entrepreneur.com that gives some examples of the people to stay away from when choosing your partner that i couldn’t agree with more.
Mr. College buddy is never a good choice for several reasons. Remember his behavior in college? Unless he’s made a drastic transformation i wouldn’t suggest choosing him. He also is the one who is most likely going to forward you his new expensive address so you can mail his 50% to him every month.
Mr. Spender can’t possibly survive without a six-figure salary, lavish office and an in-house cigar roller. Price is no object when it comes to entertaining a client or flying first class.
Mr. Vacation is another one pretty similar to Mr. College buddy, they are NEVER around especially when you need them the most. Mr. Personal issues, this is the guy who has a personal reason and or excuse for everything in the book. He has a built in way out of everything that you need him to do for the company.