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What makes a good business partner?

Starting a business with another person is a huge decision to make. You will have to commit to working with this person and leaning on him or her for your financial security.

Your choice in a partner can make or break your business venture, so you must make sure you chose the right person. It is important that you evaluate the person honestly and without letting your personal feelings get in the way. SmartAsset suggests looking for some specific characteristics that are hallmarks of a good business partner.

Reliable

One of the top traits you want in a business partner is reliability. If you cannot rely on the person, things will get messy. You need to know the other person will handle his or her responsibilities and be available to help with the business on a regular basis. It is equally important that you can count on this person to do things in the best interest of the business, such as managing the finances.

Personable

Owning a business requires being able to talk to people and communicate well. You want a partner who will not have issues interacting with customers, vendors and others who he or she will work with in the course of running the business. The last thing you need is someone who cannot get along well with other people and who creates tension within your business.

Passionate

Above all else, you want to find a partner who is as passionate about the business venture as you are. Success in business often hinges on the drive of the business owners. If your partner is not as excited and committed to the business as you are, it could lead to issues down the road that hold your business back.

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