Evaluating Business Partnerships

A partner should provide time, money, or skills that the business owner lacks. This trade-off can accelerate progress toward business goals, and if a goal can be reached faster—such as achieving a ten-year milestone in four years—this makes the partnership valuable. When considering a potential partner, the business owner should assess whether they can achieve their objectives without one. If opportunities for collaboration are not presenting themselves, it may be wise to continue progressing independently.