Bad partnerships is one of the biggest reasons why businesses fail. There are many ways in which people can start a business but the novice in this field go for a partnership so that they can benefit from the experience of an individual. You will find dozens of people in your circle who are really enthusiastic about starting their own business in Umm Al Quwain Free Zone and some of them want to start with an expert guiding them through in the form of a mentor/partner.

There are some aspects you need to assess before going for a partner regarding any business. Making right decision at the right time is important. In this blog, I will try to list 5 of them so that you can make sure you are not partnering with the wrong person.

1. Understanding about the Business

This is probably the most important factor that you need to consider. If someone has referred an individual for your business, find out if they understand what your business is all about. You need a partner who truly understands your point of view in starting a particular business right from the scratch. It can include looking for a web design agency to create a website of your choice right till launching your business to your audience.

2. Handling Day-to-Day Business Affairs

This is another important aspect. You just cannot assume that all the work related to the daily operations of your business will handled by your partner. Or you will be solely responsible for that and your partner will be a sleeping partner. In a partnership, you need to understand that it is responsibility of not one but both the partners to come up with a plan to oversee and manage the daily operations. A person just cannot sit idle thinking that as I have provided the capital, I am not responsible to manage anything on a daily basis.

3. Ability to Handle Challenges and Issues

There are times when newly established companies face stern tests in the form of a challenge. This can range from a price war with a competitor, coping up with a new regulation from the government or just facing a query from an angry customer. As stated in the previous point, you need a partner who is reliable enough to handle daily operations and that’s why he must be able to cope up with a challenge that can come your way anytime.

4. A Tech-Savvy Person

You may be starting an apparel business which requires knowledge about garments and types of clothing. But having a tech-savvy person can be of immense value to you as he can complement you on every step of applying a new strategy or incorporating a radical new change in your website making it more extremely easy to use for your customers. Small Business website design can be one aspect that can make your website stand out from the rest. In a nutshell, you definitely need a person who knows what’s hot in the industry and how to make apt changes in your website or operations.

5. An Organized Person

You will definitely need a person who is organized. Period. I mean, this is one of the basic requirements of a professional person and if he is going to be your partner and offer you all the support in running a SME/startup, this is one quality that is a must-have. Keeping their data intact and offer you support whenever you need it is one ability that will benefit you in the long term. I hope you will really appreciate this blog and the information provided in it. Please take out some time in giving your valuable feedback in the comments section below.