Have you ever taken a moment to consider the characteristics most important to you when choosing a business partner? Whether you are a business owner, part of an existing team, or you are currently looking for your next role, identifying key characteristics that make an ideal partner is critical. As a group, Remote COO discussed this topic during our last team call and pinpointed those we believe are integral to both our team members and our clients. Not surprisingly, since we consider our clients our business partners, we discovered the qualities we look for in team members and clients are identical. Here are our top 10 characteristics to look for in a business partner.
1 -Aligned Mission and Vision
When beginning new relationships with potential clients, customers, or interviewing for new team members, it is very important to ensure your organization’s mission and values align with theirs. When your company’s mission, vision, and values are aligned, everyone from prospective clients to potential employees know who you are and what you stand for.
2 – Compatible
Sharing a common mission or vision helps establish compatibility with a business partner. Knowing that you are both working toward the same goals and milestones is a beginning, but it is also important to make sure your personalities are able to coexist. You need not have identical personalities, but an understanding and appreciation of different perspectives and ideas and an acceptance of personality differences will go a long way. Finding a partner with a like-minded approach to the business can help keep your relationship harmonious.
3 – Passionate
When you possess a passion for your business, your success is nearly inevitable. This is because being passionate gives you a powerful edge you can use to provide the highest quality customer service or product to your clients or customers. Passion drives people to succeed and this drive is something you will want in a business partner to stay one step ahead of your competition and provide the best service or product on the market.
4 – Reliable and Trustworthy
Being unreliable is bad for any relationship. A reliable person is consistent and can be trusted that what they say they will do they actually do. If you cannot trust your partner to perform, you cannot depend on them. This makes reliability and trustworthiness imperative in any relationship – including a professional relationship.
5 – Possesses Integrity
A person of integrity has strong ethical or moral principles and follows them consistently, no matter the circumstances. A person with integrity acts with honesty, honor, and truthfulness. If you cannot trust what your partner will do in a given situation, why would you want them as your partner?
6 – Someone Who Challenges You
Without challenge, there is no change. And without change, there is no growth. In order to keep growing, find a partner who will challenge you in a positive way. Partner with someone who looks at situations from a different perspective and can ask you important questions to challenge your thought process and encourage your growth.
7 – Supportive
Just because this person may question your thought process or challenge your ideas, doesn’t mean they are negative or unsupportive of your thoughts and ideas. Be sure to understand and recognize this difference! We believe it is imperative to the success of the partnership that your partner be supportive and encouraging as well as challenging – these are NOT mutually exclusive. In fact, in the best partnerships, these go hand in hand and are optimal for success.
8 – Team-Oriented
Because we, as Remote COO employees, view ourselves as part of the bigger Remote COO team, we all agree that hiring individuals and accepting clients who also share in this team mentality is imperative to our success. This mindset encourages collaboration and fosters relationships as we all work together to meet goals and provide the best service to our clients.
9 – Ability to Compromise
Because we work in partnership with our teammates and our clients, we find that the ability to compromise is essential to the success of our organization. To foster a collaborative environment, it is often necessary to keep an open mind and learn to appreciate other opinions and ideas. When looking for a partner, this ability to compromise will aid in maintaining a collaborative environment and safeguard against a dictatorship.
10 – Communicative
And, last but certainly not least, a business partner’s ability to effectively communicate thoughts, ideas, and opinions is of the utmost importance. If you are not communicating well and often with those you work with, you may as well be working alone! Not fostering healthy and open communication between your partners is not only detrimental to your relationship, but it is also devastating to the organization. Finding a partner who is able and willing to communicate, even when it is difficult, is indispensable.
We hope our Remote COO exercise in identifying characteristics to look for in a business partner spurs you and your organization to take the time to do the same. Doing so could save you time, money, and headaches in the long run. Not identifying your needs and desires before entering into a new working partnership is a gamble and may jeopardize the future of your business. Ask the difficult questions upfront, of yourself and your potential partner, and make the right choice with the right information. If you are looking for a partner, extension of yourself, someone to join you on your entrepreneurial journey and help you grow your business, Remote COO may be the right fit for you. Connect with us, and let’s talk!