In search of a partner

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DickCappels

Joined Aug 21, 2008
7,989
Moderator's note: Restarted this thread in a more suitable location. Please, only serious replies this time.
 
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Papabravo

Joined Feb 24, 2006
17,307
I don't have what you need as I understand your request. I have been where you are now and started a successful company with two partners. I have some advice for you but only if you want that advice. Best of luck in your search.
 

Papabravo

Joined Feb 24, 2006
17,307
In order to attract the kind of person you need to help launch a successful enterprise you need to have a well thought out business plan. Why? In all probability you will ask this person to work for little or no salary, but share in the equity of the enterprise. Such a person must not only be willing to take on a substantial risk, he must have an alternate income stream. The only reason a sane individual would do this is if there is a business plan he can believe in.

So how do you get a business plan? You start with the basic descriptions of the product and the associated ideas. Then you get some help from a local business school, or maker space, or community college to flesh out the things you need help with, like a marketing plan and revenue forecasts. Now you pitch the plan to potential partners and people who might fund your enterprise. People who might fund your project have access to people who can do the work.

Taking on a partner that you just met represents an extraordinary risk on your part. I would advise that you need to know such a person for 1-3 years before making that kind of commitment. Making the business plan and pitching it may just give you the time you need to evaluate those potential partners. What you want in a partner is somebody who can do the job and share the risk. Do not put a high value on academic credentials since those folks are seldom inclined to take on risky projects. They mostly want to achieve tenure and working with you does nothing toward that goal.

Those are my initial thoughts on how you should redirect your efforts.
 

Thread Starter

AleksandarK1

Joined Aug 20, 2017
14
In order to attract the kind of person you need to help launch a successful enterprise you need to have a well thought out business plan. Why? In all probability you will ask this person to work for little or no salary, but share in the equity of the enterprise. Such a person must not only be willing to take on a substantial risk, he must have an alternate income stream. The only reason a sane individual would do this is if there is a business plan he can believe in.

So how do you get a business plan? You start with the basic descriptions of the product and the associated ideas. Then you get some help from a local business school, or maker space, or community college to flesh out the things you need help with, like a marketing plan and revenue forecasts. Now you pitch the plan to potential partners and people who might fund your enterprise. People who might fund your project have access to people who can do the work.

Taking on a partner that you just met represents an extraordinary risk on your part. I would advise that you need to know such a person for 1-3 years before making that kind of commitment. Making the business plan and pitching it may just give you the time you need to evaluate those potential partners. What you want in a partner is somebody who can do the job and share the risk. Do not put a high value on academic credentials since those folks are seldom inclined to take on risky projects. They mostly want to achieve tenure and working with you does nothing toward that goal.

Those are my initial thoughts on how you should redirect your efforts.
Thank you so much.
 

atferrari

Joined Jan 6, 2004
4,474
A friend of mine, succesful owner of a company dedicated to power generation technolgy, told me once: if you need someone to do any job, hire people. Associate someone able to develope customers exclusively.

More than 20 years now he is doing very well.
 

Thread Starter

AleksandarK1

Joined Aug 20, 2017
14
A friend of mine, succesful owner of a company dedicated to power generation technolgy, told me once: if you need someone to do any job, hire people. Associate someone able to develope customers exclusively.

More than 20 years now he is doing very well.
Good advice he gave to you. I see now that that is true.

@DickCappels can you please close the thread?
 
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