Taking on a partner?

[CCAdamson]

I am really just in the beginning phases of starting my business. Today I was having a conversation with someone who in my opinion is a complement to my own skill set. She herself has been tossing around the idea of going into business for herself but is afraid to make the leap. I didn't say anything to her about this but started thinking about a partnership (although they say the only ship that won't sail is a partnership). I believe most of you are on your own but have you ever considered a partner? If you did or if you have one what are some things you looked for in a partner? Since I really haven't even taken on a client yet it wouldn't change things from that perspective. I am just batting around ideas. Thoughts?

Thank you

[Harold Mansfield]

I work with others who I consider partners, but we're not partners in that our businesses are merged and expenses and profits shared. We're partners on a project basis.

I have never considered a partner, mainly because I've never met anyone who has any skills that I would need to grow, or that understands what working for yourself really means.
Anyone who has ever approached me with a partnership idea was depending on me doing all the work and them just coming up with ideas.

Starting a business is hard, and in the beginning most times money is tight until you start earning a regular stream of customers. A lot of people can't deal with that and bail at the first sign of trouble.

So if you're really considering a partner, make sure it's someone who not only brings something to the table, but that is in position to start a business financially, and work through the lean times to build the business.

[Freelancier]

Partners are very similar to spouses. Know who you're getting into bed with. You don't just need a complementary skill set, you need to make sure that you think the same way about the business, have similar business goals, have similar work ethics (and just plain ethics), and have the financial pockets to survive the tough times that always come.

[Owen]

I would prefer a partner over working alone. However, don't jump to just working with this person, even if they're close friends. You most likely haven't worked with them in the corporate world :)

[CCAdamson]

The person I am considering actually is someone I know from the corporate world not a friend. Start up capital is minimal for this business, mostly stationary costs at this point. Not to say there aren't some outlying costs but minimal.

She brings some solid analytical and organizational skills that could make her a good partner.

To that end I am still not sure I want to have a partner but I am considering it.

[Freelancier]

Start up capital is minimal for this business, mostly stationary costs at this point.
Except for living. That costs money. If you both don't have at least 6 months in the bank, your runway may not be long enough for takeoff. And sometimes it takes a year or more to make a decent wage. People always underestimate that part.