Since the age of 18, I knew I had the entrepreneur gene. I think this is a specific gene that can tell you if someone is born to be an employee or an employer. Don’t get me wrong, there is nothing bad about being an employee. In fact, employees carry much less stress and problems than entrepreneurs… I guess we should pull out stats on life expectancy on both categories ;-). The entrepreneur gene makes you a different individual. You constantly have the urge to build something; be your own boss. However, sometimes this dream turns into a nightmare; or worse, this dream is buried inside you by laziness, fear and lack of organization. This is why I decided to team up with a partner. In this post, I want to explain why. I call it the PICCA (if any MBA student wants to bring this article to his professor ;-))
Reason #1: Productivity
The purpose of building a sideline income is obviously to earn more money. The problem that comes with any small business is the time required to start it up. Most people abandon their dream due to a lack of time. Your job is demanding (and so is your wife hahaha!) and you want to spend quality time with your family and friends. Having a partner is a great opportunity where someone else is also working on the same project. Therefore, even if you have a rough week or you are on vacation, your business partner is there.
I went through a lot of personal events since I started my business in 2008; having a second child, switching jobs, finishing my MBA, etc. There were some moments I couldn’t do much for our online company as I was completely swamped. Well my partner was there to work harder on it. The good point is that I have had chances to return the favor last year as he was getting married ;-D.
Reason #2: Ideas
I’m a walking idea generator. Nonetheless, I need another person to boost and develop those ideas. We try to have brainstorming sessions every 3-4 months. We discuss web projects, topics, potential deals. When we put our 2 brains together for 2 hours, we can literally change the world.
Having an idea is one thing, having a good one is great but developing a good idea with definition requires more than one individual. This is how we turn ideas into real projects!
Reason #3: Challenge
If I was alone in my basement, I would decide everything… and make a lot of mistakes! Why is that? Simply because when you are alone; nobody is there to challenge you! So if you are about to make a mistake, no one will tell you about it. Being challenged and challenging my partner is one of my favorite sports. This is a game where you go 100% honest and you are not afraid to “smash” your partner. The only thing is that one must not take it personal ;-).
Reason #4: Complementarities
I wrote a pillar post about how to manage several blogs at the same time a few weeks ago. In this post I mentioned how important is to find people to make up for your flaws instead of looking to improve your skills in every single field. My partner is my best friend but he is also the perfect partner I could have as he is very strong in areas I barely know (and vice-versa). The complement aspect also brings a completely new perspective on any projects. It’s like looking at the medal from both sides at the same time!
Reason #5: Accountability
This is the last but the most important reason to get a partner; you will get things done. Sometimes, I don’t feel like working on my sites. I’d prefer to play Need For Speed or watch a movie. But I know that I have a partner and as I expect him to do his part of the job, he expects the same thing from me. Accountability is better than having a boss; you feel wrong if you don’t do what you have to do but it’s not the fear of being smacked by your boss; it’s triggered by the feeling that you are not being honest with your best friend. That changes the whole game!
Having a Business Partner; Is it that Perfect?
Hey, I’m sure you are reading this post and you think; “what if my partner doesn’t work? Or try to screw me?”. I guess there is a downside of having a partner too. Do you have any reasons why you would not partner-up?
|How I Suck at Not Paying Debts||Hitting 6 Figures Income at 28|
|How I Get a Huge Income Raise Each Year||Making $125K Online in 12 months|
|How I Buy Blogs||Most Debated Articles: The Primerica Saga|
|How I Have Survived My MBA||What is So Wrong With Making Money?|
|How I run multiples blogs and makes money without burning out|