Some entrepreneurs do the business partnership equivalent of getting married after the first date. They rush forward without evaluating more than superficial impressions about their intended partner. Some impulsive business owners enter a partnership because it seems like a good idea at the moment, not giving a whole lot of thought to whether they are well suited for working in a partnership.
Some individuals team up with total strangers and others partner with family and close friends.
Cautious folks spend months evaluating their partnering decisions, involving a team of lawyers, accountants, and other professionals. Others throw caution to the wind and move forward with little structure or formality. There are many personal and professional issues to consider in choosing a partner. Among the most sensitive are questions of cultural and religious compatibility. When we discussed going into business together, I looked for any prejudicial attitudes in his language or casual, off-guard behavior.