If some want to start new business...........

If some want to start new business on partnership, which rules and regulations are useful to develop long lasting and good relationship with business partner?

 

â„–1 rule is trust. If you don't trust your partner, in his/her skills and knowledge, don't ever start partnership company.

 

No2. Find someone who will compliment your skill set. Someone who is strong where you're weak and vice versa, but with an overlap.

 

Hi all,

Any body start to new business 1st of all good marketing knowledge of product. A good relation with customer. then start a new business a long time.

 

trust and skill are must important in the any company start .

 

yea you are right ...

 

Any one start a new business first most important thinks is trust and skill required and also good marketing knowledge, good relation with customer.

 

Preferably not a close friend or family/ relative. Someone you are acquainted with , that you trust but also you can be professional with and not be emotional when it comes down to serious decision making

 

Partnership business is good, subject to good faith and compromising nature should be there in each other, besides this need strong marketing skill, management skills to get the things done in your subject business.

 

In my oppinion the most important things are skills You have and other skills Your partnership have . And very important thing is knowledge how to manage business .

 

I would say that trust is the number one factor in any relationship, including business. Its the foundation.

 

Trust is a very important aspect in general. But there are many other things you need to consider as well such as ownership rights(a lot of partnerships have a managing partner who owns 51%), investment capital, resources, and of course legalities. There's a lot of pros and cons to starting a partnership, but if you plan on starting a legitimate one, seek out the advice of an attorney, accountant, etc. Many smaller cities around the world seeking economic growth will provide these services for very cheap(heck in my area they give free consultations for entrepreneurs).

 

If someone start the he/she should follow some rules and regulation as-
1. Trust
2. Co-operate
3. Business skill
4.Time

 

Yeah you are 100% right about this thing.

 

Understanding is the key, and of course important that there is a proper platform of management thus each of you know what is your rule and where is your place is.

 

One important rule is : Make sure each and every thing is crystal clear between you and your partner.

 

No5. Keep everything on papers. Do everything legally and initially things looks good but this gets worsen with bad days in business

 

Believe in your partner and make sure that every thing you do is written down in advance. Careful planning and having a proper backup plan is the key.

 

trust, honesty and the skills are the most helpful factors in business partnership.

 

That would be a BIG mistake.Never develop GOOD relationship with biz partner.Sometimes you will have to compromise at certain things.That's not GOOD for your biz.Just try to be more professional.