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www.4imprint.com Infographic created by www.4imprint.com, based on the Business Partners Blue Paper ® . Download Blue Paper at: http://info.4imprint.com/blue-paper/how-to-find-a-business-partner/ Sources: "The 80% Rule of Business Partnerships - The Power of Collaboration." The Power of Collaboration. N.p., n.d. Web. 10 July 2014. <http://www.petersimoons.com/2013/07/the-80-percent-rule/>. Tabita, John. "Partnerships: Boon or Ruin for Your Business?" SitePoint. N.p., 13 Nov. 2011. Web. 10 July 2014. <http://www.sitepoint.com/partnerships-boon-or-ruin-for-your-business/>. "The Pros and Cons of a General Partnership." Smallbusiness.yahoo.com/. Yahoo Small Business Advisor, 21 Apr. 2012. Web. 20 Aug. 2014.<https://smallbusiness.yahoo.com/advisor/pros-cons-gener- al-partnership-180000820.html>. Gerber, Scott. "The 10 Worst Partners For Your Start-Up." Entrepreneur.com. Entrepreneur Media, Inc., 29 June 2014. Web. 6 Aug. 2014. <http://www.entrepreneur.com/article/202434> Finding Mr. or Ms. Right: How to identify the Perfect business partner Only fools rush in More business partnerships end in divorce than marriages Some partners just aren’t the marrying type: Run … don’t walk from these Mr. and Ms. Wrongs Follow these guidelines to help you choose your match made in heaven. Your business plan just may end in happily ever after. JUST HITCHED WEDDING CHAPEL WEDDING CHAPEL 80% OF BUSINESS PARTNERSHIPS DON’T MAKE IT THE PLUNGE? Don’t walk down the aisle before you know the answers to these five key questions: 1. What is your potential partner's financial situation? 2. Is your potential partner as committed as you? 3. How would your partner handle conflict? 4. What is your partner's reputation in the community? 5. Is Mr. or Ms. Right willing to put everything in writing? A r e y o u r e a d y t o t a k e You may reproduce and distribute this infographic in its entirety. You may not create derivative works. (Licensed under the Creative Commons: http://creativecommons.org/licenses/by-nd/3.0/) Ms. Employee Sorry team, I’m always home by dinner time! Mr. Perfectionist Let’s conduct just one more comprehensive survey. Mr. College Buddy I have a great idea! Mr. Inventor Profits? What do you mean profits? Let’s conduct more R&D! Ms. [Always] Right It’s my way or the highway. Ms. Dreamer I have a dream … Mr. Spender Show me the money! Ms. CEO But what will my title be? Mr. Vacation How do I set my out of office for the next 3 weeks? Disadvantages of a partnership Strain your existing relationship Jeopardize financial standing Contribute to conflict that could endanger the company Reduce corporate independence Shift core business operations Challenge leadership framework Benefits of a partnership Pay less in taxes Split start-up costs Share risks and responsibilities Leverage skill sets, expertise and knowledge Expand networks Develop better ideas entrepreneurs choose to remain single as sole proprietors Two heads are better than one: Any marriage has its ups and downs: 72 %
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