8 questions to ask when forming a business partnership – part 1

Jacob Aldridge

[ Blackboard Fridays Ep. 44 ]

There’s a phone call or email I receive most weeks, and it still excites me: somebody (client, alumni, or a completely new introduction) who has a fresh idea for their new business. As you saw in Episode 25, I can be a practical ‘wet blanket’ in encouraging these people to really test their new idea.

And that practical approach – built from my experience over many years – extends to the next part of their conversation: “I have a business partner ready to go!”

There are many reasons why businesses with multiple founders work better than solopreneurs … and many people in successful businesses who will tell you never to take on a partner at all. So how do you know if having a business partner is right for you?

More importantly, how do you know if this person (or group) is the right person to partner with?

Watch today’s episode, as we dive into the first 4 of 8 questions I encourage potential partners to ask each other, with some case studies. These are the key strategic questions where you need to know the answers are aligned. Next week we’ll ask the 4 operational questions.

And as with testing your new business idea, these are just as applicable to a new start-up as they are to an existing business looking to bring on partners, or open new product lines or geographic channels using a partnership model.


Take 5 minutes each week to focus on your business instead of dealing with the demands of working in it.

Blackboard Fridays

Originally posted at businessDEPOT.com.au

About Jacob Aldridge

Over the past 12 years, more than 300 active growth businesses in Australia, the UK, and Asia-Pacific have worked with Jacob in his role as an international business coach, partner and advisor. As Director of Advisory at businessDEPOT, Jacob continues to work one-on-one with SME businesses and principals, specialising in Real Estate businesses, while also leading the development of the Strategic Advisory services across Workshops, Group Programs, and Online business guidance.

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