Are you thinking of hiring someone else?
Are you a solo business and wondering if you should have a partner? Are you wondering about bringing on someone to tackle the expanding workload? If so, I bet you’re wondering about the process and worrying about what you do or don’t know about it.
Signs That You MIGHT Want a Partner
- Business is picking up and you have more clients than hours.
- Business is slow and you feel like two heads are better than one.
- You’ve taken your business as far as possible yourself.
- You see the strategic value of pulling in another skill set.
- You are very creative and need a grown-up to do the grown-up things.
There are plenty of ways to look at things, obviously, but those are a few.
So let’s say you think, “Yes, I want a partner.” Here’s what I’d think about next.
A STARTER set of questions to ask
I have a few questions I wrote out for you to consider asking your prospective partner as part of your business negotiations. This isn’t all-inclusive, but I bet it’ll help you move the story ahead further.
- What exactly are each of us bringing to the partnership?
- Who is responsible for bringing in sales?
- What happens with sales revenue?
- Do we get a percentage for being the one who brings in the sale?
- Who services the account?
- Whose vote is final in the partnership?
- What are our agreements about marketing and lead generation?
- How do we handle off-time (like vacations and stuff)?
- How do we manage revenue?
- How do we manage profits?
- What type of corporation and/ or other legal documents do we need?
- What would we need to do to dissolve this?
- What will we do upon agreement to dissolve?
- What if we don’t actually agree on dissolving the company?
- What happens with any outstanding debt?
There are plenty of people talking about partnering up inside the FREE Secret Team. Maybe you’ll find your partner there. Thoughts?