25 Best Business Partner Duos of All Time
That’s the name of a splendid slide-show article Entrepreneur Magazine published recently. I’m sure you’ll love it!
Eleven years ago I decided to leave my executive marketing position and established a company that focused on helping entrepreneurs reach business success. I knew I needed a partner that would bring the professional aspects of entrepreneurship, with experience from the startup/ Entrepreneurship/ VC world.
While looking for this partner, I met with my brother (a successful CEO and entrepreneur in soul) to ask his advice. My brother told me, “Finding a business partner is as critical as finding someone to marry”. Wow! I had not thought of it that way.
My partner came from eleven years of investor relations in one of the leading VCs that helped entrepreneurs in their fund-rising campaigns. We grew apart three years later, when she chose to dedicate her time to her two newborn grandchildren and philanthropy.
Since then, I have remained the only shareholder in my company.
Working with so many entrepreneurs and investors, I learned that when you are considering establishing a company, especially a startup company looking to raise funds, a partner is a must.
Yet, it’s a challenging issue. I believe that over the last ten years, I’ve seen it all.
I’ve seen many startups where the relationships between the partners led them to a dead-end, I’ve seen entrepreneurships and startups with great relations between its founders, and even successful startups where the good relationships between the partners help them to reach success.
I’ve also seen entrepreneurships and startups that faced big relationship challenges, worked to solve the problem, and managed to end up in a much better place.
I’d like to share some valuable tips and insights I discovered along the way; I hope you will find them valuable for both building the right base for the entrepreneurial relationships, and solving issues and struggles you will face alone the way.
Insight # 1: which is, in my opinion, the best and most powerful advice –
Find a partner that is truly passionate about your venture’s success as much as you are. As long as both partners focus and dedicate to the company’s success,, you will always be able to convince each other in the best solution for you.
Insight # 2: Be empathic to each other. Understand what your partner cares and concerns about and respect it.
Insight # 3: Once you’ve decided on your division of duties, respect them.
I had the pleasure of meeting the two founders of Tvinci, (who provided a leading solution for OTT (Over The Top) pay TV, and was acquired by Kaltura) and seeing the way they always respected each other’s position.
They respected each other’s executive roles, although they were good friends , have similar backgrounds, and have followed similar professional journeys.
Insight # 4: Never talk about your partner behind their back,..
Insight # 5: Never skip an opportunity to celebrate an achievement or success together.
You will find many more principles and analysis in the slide show article in the Entrepreneurs magazines.
I would love to hear about your challenges, successes, and struggles in your partnership experience.