Interpersonal Problems

• Never enter into a business partnership with someone whom you do not know well. Even with someone you do know well, there is always the possibility of interpersonal conflict developing when things get stressful. With someone you don't know well, this risk increases exponentially. Make some effort to discover how your potential partner responds in stressful or challenging situations. The time to find this out is before you make a business commitment to him. Starting a business with a friend can be particularly fraught with difficulty; businesses stresses and disagreements can easily become inseparable from your friendship, leading to the possible dissolution of both the business and the friendship.
  
  

Unforeseen Changes

• In addition to being competent, hardworking and honest, your potential business partner should be in a stable situation in the rest of her life. Entering into a business with someone who is not stable is asking for trouble. Through no fault of her own, she may meet a new partner, move to a new city, encounter serious financial difficulties or experience any number of any deal-breaking events. One way to decrease the odds of this happening is to consider only people who are older than 40 as potential partners. This is not because older people are more competent or trustworthy, but simply because radical life changes tend to occur more frequently earlier in life.
  
  

Complementary Strengths

• When choosing a business partner, you should give some close thought to how that person's strengths interact with your own. If you have different strengths and weaknesses, the partnership might go more smoothly than if you are similar. If one person is an introverted computer whiz and the other is a back-slapping "work-the-room" kind of person, these personalities can sometimes complement each other to great effect. As long as there is enough overlap in your personalities that you are able to communicate well and get along, the contrast can work well both personally and professionally.
  
  

Dishonesty

• Dishonesty should be an immediate deal breaker in any business partnership. If you find, before forging a partnership, that the person you are considering has every cheated someone or engaged in shady dealing, end it right there. Don't be naive and listen to stories that he has changed. Even though it might be true, there are plenty of potential business partners in the world, and it isn't worth the risk to get involved with one who has a shady past.