Is it worth having partners? The guide to defining your company's partnership

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Forming a company into a partnership is a good strategy to increase profits and diversify the team. However, it is common for partnerships to end in conflicts and legal problems.

Therefore, you should think carefully about whether this is a good option for your business and, most importantly, choose the partner who will accompany you on this journey. Read the article to the end and find out whether it is worth having partners and how to create a safe partnership from the beginning.

How do I know if it's worth having partners?
In a business partnership, each partner agrees to provide skills, expertise, and effort in exchange for an agreed share of the company's profits.

The sum of this knowledge and skills increases the chance of achieving a good result . Therefore, the first rule when deciding whether it is worth having partners is to analyze how they complement each other and can contribute to the company.

Let's take an example: you may be an excellent manager paraguay phone number lead and leader who knows how to manage and motivate your team. However, you are not good with finances and administration. Finding a partner who can handle the bureaucratic side will allow your skills to combine to cover all aspects of the company.

Diversification is always a competitive advantage. Just as you should look for a diverse team with complementary skills, the same should be true for the company's partners.

Another important point is the affinity between partners. It is worth having partners in a company when they work in harmony and share the same desires for the company.

Before making a decision, there are some points that should be taken into consideration:

Partner values and capabilities
What value will your partner bring to your business? Are his or her skills and abilities complementary to yours? As we have already said, a diverse partnership is the best path to the success and future of your company.

Division of responsibilities
What will each partner's responsibilities be? Will each partner be responsible for one area of the company or will they all coordinate together? If there is disagreement on some aspect, how will it be decided? Will someone have the strongest vote? All of these questions should be answered before starting the partnership.

Trust
It is only worth having partners if there is mutual trust between you. This is one of the main points. If there is no trust now, imagine when the future of your business is in the hands of the other person?

Even if you have good qualities, it is not advisable to form a partnership with a stranger or with someone you know little about or who already has negative references.

Objectives and vision for the future
The objectives between the partners must be aligned, as they will need to work together to grow the business and must have the same expectations for it.

To do this, compare your expectations and try to align your medium and long-term goals and desires. A company must plan for the future and carefully evaluate its prospects and growth possibilities.

We talk more about this in the article Business partnership: how to choose a partner for your company .

Security from the start
Once you have carefully assessed the strengths and weaknesses of your new partner, it is time to close the deal. You should draw up a partnership agreement that provides legal protection and rights for both the company and the partners. This agreement details the responsibilities, rights, obligations, and actions of each partner in the partnership.

To do this, it is first necessary to define the type of company that will be adopted. We have a complete article on the subject: Learn about the 10 types of business companies that exist in Brazil .

Ideally, a lawyer should be present when signing the agreement, so that neither party is harmed. A partnership is like a marriage. No one expects it to end, but everyone gets married with a prenuptial agreement.