Successful entrepreneurs like Raffy Pendery have broken new grounds in business through value-added partnerships. Having a partner can boost your business prospects, but it could also lead to chronic problems and endless disputes. In this article, we look at some of the essential qualities to look for.

1. Unique Entrepreneurial Skills

When you are starting a business, you may lack some of the essential skills that could make the venture successful. One of the main objectives of finding a business partner is to fill the skills gap by hiring someone with unique abilities.

One of the common entrepreneur mistakes is to settle for someone who has the same exact skills as you. For the partnership to be successful, it must complement both parties. By combining your unique skills, you can overcome many of the initial challenges that may come your way.

2. Passion and Motivation

Entrepreneurs like Raffy Pendery are passionate about what they do. So, it makes sense to find someone who has the same level of passion. You don’t want to work with a partner who you will have to push to fulfill their end of the bargain. They should also be self-driven and motivated to push the business forward at all times.

3. Compatibility

Even though both of you may have a unique skill set, there needs to be a sense of genuine respect between you. That means that you value your partner’s contribution, skills, and concerns, and vice versa.

When there is a strong partnership built on respect, the company can blow through the obstacles. And when you attain success, you’ll be there to celebrate each other’s accomplishments.

4. Capability to Network

When unveiling a new product or service, businessmen like Raffy Pendery tap into their networking circles for leads. When you are in the process of finding a business partner, you may want to consider someone with valuable contacts. A well-connected entrepreneur can help take your business beyond its current market boundaries. Their networks can also help with financing or other aspects of the business that you are not yet aware you need.

5. Communication Skills

Effective communication is an essential part of running the day-to-day operations of any business. Some decisions can be controversial, so it is important to communicate not to be misunderstood than to be understood. You can’t have a situation where the right hand does not know what the left one is doing.

6. Creative and Open-Minded

Whether you are a marketer or tech entrepreneur, your company will have to incorporate new ideas to be successful. An ideal partner should contribute business ideas and help you resolve conflict. They also need to be open-minded so that it is easy to share and discuss new groundbreaking strategies. That way, you are not constrained to doing business the way it has always been done, as this can stifle growth.

7. Professionalism and Ethics

If you are interviewing individuals to partner in your business, you’ll need to evaluate their sense of professionalism and ethics. You should share the same standards on business practices, compliance, and respect for clients. If there your ethical standards mismatch, that could be a source of endless conflicts that could lead to business failure.

Get the Right Partner

There are many good reasons to find a business partner. However, if you’re not careful, you could make mistakes that could cost you your venture. Entrepreneurs like Raffy Pendery encourage startups to find mentors to guide them at different building stages. There are always great insights you can tap from experienced entrepreneurs.

On our entrepreneurship blog, we previously shared some tips for picking the right business partner. But one of the most obvious options when finding a business partner is to look to your existing friends. After all, your best friend may know you better than anyone and share your passions, making them a natural fit for your business. But while this may seem like a great idea in the beginning, it can turn out to be one of the biggest entrepreneur mistakes you’ll make.

Ultimately, the choice of whether to go into business with a close friend is up to you — and whether or not it will succeed depends on a number of factors. But if you’re wondering how to start a business with your BFF, here are a few considerations to keep in mind before you forge ahead.

You Can Build a Business Based on Trust and Common Interests

If you attempt to find a business partner out of the blue, it can be tough to figure out who you can trust. If you entrust the wrong person, you could end up getting burned. While that still may be true for friends who go into business together, your existing relationship can mean that you don’t have to waste time getting to know each other and your respective business styles. What’s more, you’ll probably have a better idea of what your friend is passionate about and will know whether emotional buy-in already exists. Not only will your friend want your business to succeed for their sake, but they’ll also be invested to ensure you succeed.

Your Friend Can Provide Balance and Create a More Complete Partnership

One of the most important tips for entrepreneurs is that you should pick a business partner who can offer what you can’t. If you decide to go into business with a friend, you’re probably already very familiar with their main strengths and weaknesses. If you know that they excel in places you lack, this can actually be of huge benefit to your venture. As part of your partnership, the two of you will provide a sense of balance to each other and bring out the best in each other. That’s assuming, however, that this is the dynamic of your friendship. If you frequently find yourself in a spat with your friend or you’re too much alike, this may not bode well for your business. If you team up with a friend, make sure that their temperament and business style complements yours and makes up for what you may not have.

Business Partnerships Based on Friendship Have Higher Stakes

Although 80% of small businesses started n 2014 made it to their second year, there’s no guarantee that your business will survive. And if your business fails, it’s also possible that your friendship could end as a result. Working together can bring out other sides of each person; if you don’t have a solid plan in place to ensure communications are productive, it’s possible that working together could damage your friendship. If you do decide to go ahead and go into business together, make sure you’re both on the same page about the state of your friendship and come to an agreement to keep work and personal lives separate.

As our entrepreneurship blog shows, going into business isn’t an easy task. And while starting a venture with your friend can be an excellent idea, it’s one that should be carefully considered first. For more tips and tricks for startups and visionaries, check out our entrepreneurship blog.

Did you know that nearly 15 million Americans are self-employed on a full-time basis? The pandemic has set the stage for even more people to become entrepreneurs as businesses close and many in-person jobs are eliminated. The digital entrepreneur is more important than ever, so now could be the time to make your next career move.

But if you don’t want to go it alone or don’t know how to start a business, one of your first steps should be finding a business partner. Here’s how to find the right one.

Consider Current or Former Coworkers

One of the best ways for the digital entrepreneur to find a business partner is to consider current or former coworkers for the job. You already know your coworkers’ work ethics because you have worked with them before. Choose the coworker who you worked well with in the past and who takes an interest in your business.

Ask a Friend

While some people may advise against it, asking a friend to be a tech entrepreneur partner can come with several benefits. You’re probably friends in the first place because you have similar interests, get along, and trust each other. Starting a business together could be a good fit. However, if the business fails, the friendship may not survive unless you have clear boundaries and strong communication from the get-go.

Go with Family

Going with a family member as a business partner might also seem like a recipe for disaster. However, many successful entrepreneurs are related. That could be because family is more likely to have similar mindsets, values, and work ethics. Communication can sometimes be easier between family members. You’ll be less likely to have a falling out if the business doesn’t succeed, as your bond will be too strong to break.

Network

For the digital entrepreneur, networking is probably a no-brainer. Online networking communities are taking the place of in-person networking opportunities nowadays, but they also have the added benefit of reaching more people. That means you’ll have more options and you can find an online networking group for almost any job.

Go to a Business Class or Training

A great way to find a business partner (when you may not even be looking for one) is in a business class or training. A new tech entrepreneur can benefit from a class by learning more about their field and by meeting other people who also have the drive to learn more. You and another student may find that you work well together and have the same ideas — a perfect recipe for a strong partnership.

Find Someone Trustworthy

No matter where you meet your next business partner, you will want to make sure that person is trustworthy. Don’t be afraid to ask for references if you’ve just met a potential partner. You should offer up references for yourself, as trust is a two-way street. It’s also a good idea to take some time to get to know someone before you dive in.

Find Someone Eager

Whether your partner is your sibling, coworker, or someone you’ve just met, they should be eager and excited to start a business with you. If they go into this new venture halfheartedly, they may not be in it for the long haul. You want someone who’s passionate about what they do and someone who wants to succeed.

Find Someone Who Complements You

You don’t need to find a business partner who is completely like-minded. In fact, someone who complements you can make the best partner. You may possess one skill set and your partner will have another. Maybe you have a knack for finances and your partner is more capable of designing a website. You will both bring valuable skills to the table, which can create equality and a nice balance.

The digital entrepreneur may need a little help in the beginning. You may want someone to bounce ideas off of, someone to make up for what you lack, or someone who’s just as willing to put themselves out there. That’s why you should take your time to find the right business partner. Look for one in the obvious places, but don’t be afraid to try unconventional outlets, as well. The main thing is to find someone you’re comfortable with and who you can see yourself building a business with.

Per data provided by Kauffman, nearly 40% of aspiring entrepreneurs in the United States are women, and the number of businesses owned by women is growing at a significant rate that will double the number of businesses owned by men. All business owners share one thing in common whether they are men or women, they need to have the ability to speak in front of the masses whether nationally or internationally. As a business owner, you need to be prepared to speak in public. The more your business grows and is recognized, the more likely it is that you may be asked to speak internationally as a public speaker. People, clients, and consumers want to know the person behind the business. The best way to show them is through public speaking engagements.

You don’t have to be nervous just thinking about being an international speaker. There are tips and techniques you can learn so you become a superb international public speaker, even if you are speaking to groups of people that speak a different language, have various perspectives, and diverse cultural backgrounds. Sure, public speaking on an international level means you need finesse and special skills, but it is not impossible to learn those skills and fine-tune your public speaking abilities.

Become a Successful International Public Speaker Using Resources from Rafferty Pendery

Remember when you were learning how to start a business as an aspiring entrepreneur? You may not have envisioned the need to be able to speak in public as part of being successful. However, common entrepreneur mistakes include avoiding public speaking. There are many resources you can use from mentors and successful entrepreneurs such as Raffy Pendery. He has already helped many businesses all over the world with their social media, marketing, expansion strategies, and much more.

Tip #1 – Market Yourself as an International Public Speaker

Marketing is a top way to expand your business. Public speaking internationally gives you the opportunity to fully market yourself globally. Be sure to project confidence in order to market yourself with poise. The more you show confidence, the more likely you will feel it too. Own the room and respectfully command attention even when you feel terrified.

Tip #2 – Organize Your Thoughts

Before speaking in front of an international audience, make sure that your thoughts are organized, concise, and clear. This is especially important for an international public speaker. You want the information about your business, products, and services to flow seamlessly. In order for that to happen, you need to keep your thoughts in order so they make perfectly good sense to all.

Tip #3 – Find Out More About Your Audience

An international public speaker needs to know the demographic of an international audience. Find out as much as you can about the nationality of your audience before you speak. Every culture has its own ideas concerning proper communication. For example, some cultures welcome eye contact, while others may not. Even how you dress is an imperative factor. Speak with event organizers ahead of time to learn everything you can about the demographics of an audience before your speaking engagement.

Tip #4 – Rehearse Relentlessly

Have you ever had the dream where you are about to speak in front of a crowd and you are speechless? Completely avoid that fear by rehearsing. Practice every day so you become 100% comfortable with what you want to say and how you say it. It will become like second nature when you are ready to speak in front of an international crowd.

Tip #5 – Pay Attention

Even the best-prepared speeches can flounder if you are not paying attention to the audience. Watch how the audience is responding to you. Gauge whether you need to slow down, or even ask the audience questions to keep them engaged and participating. You don’t want to focus so much on giving a presentation as much as you need to convey the key message about your business.